Equities analysts expect The Middleby Co. (NASDAQ:MIDD) to post earnings per share of $1.56 for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have provided estimates for The Middleby’s earnings, with the highest EPS estimate coming in at $1.69 and the lowest estimate coming in at $1.35. The Middleby posted earnings of $1.46 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 6.8%. The firm is expected to report its next quarterly earnings results on Thursday, May 6th.
According to Zacks, analysts expect that The Middleby will report full year earnings of $6.85 per share for the current fiscal year, with EPS estimates ranging from $6.29 to $7.20. For the next year, analysts expect that the company will report earnings of $7.90 per share, with EPS estimates ranging from $7.55 to $8.51. Zacks’ EPS averages are a mean average based on a survey of sell-side research firms that follow The Middleby.
The Middleby (NASDAQ:MIDD) last announced its quarterly earnings results on Sunday, February 28th. The industrial products company reported $1.62 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.42 by $0.20. The firm had revenue of $729.30 million for the quarter, compared to analyst estimates of $694.90 million. The Middleby had a net margin of 10.28% and a return on equity of 15.18%. The business’s revenue for the quarter was down 7.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.00 EPS.
A number of equities research analysts have weighed in on MIDD shares. Robert W. Baird lifted their price objective on The Middleby from $161.00 to $192.00 and gave the company an “outperform” rating in a report on Monday, March 1st. KeyCorp upped their price target on The Middleby from $180.00 to $195.00 and gave the company an “overweight” rating in a research report on Monday, March 22nd. Citigroup lifted their price objective on The Middleby from $140.00 to $185.00 and gave the company a “neutral” rating in a report on Thursday, March 11th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell increased their target price on shares of The Middleby from $140.00 to $185.00 and gave the stock a “neutral” rating in a research report on Monday, March 15th. Finally, JPMorgan Chase & Co. initiated coverage on shares of The Middleby in a research report on Thursday, February 25th. They issued a “neutral” rating and a $140.00 price target on the stock. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $164.22.
NASDAQ MIDD traded up $2.38 on Wednesday, reaching $164.96. The company’s stock had a trading volume of 2,132 shares, compared to its average volume of 790,463. The Middleby has a 52 week low of $46.61 and a 52 week high of $172.95. The company has a current ratio of 2.08, a quick ratio of 1.15 and a debt-to-equity ratio of 0.89. The firm has a market cap of $9.18 billion, a PE ratio of 34.01 and a beta of 1.77. The business has a 50-day moving average price of $159.42 and a 200 day moving average price of $132.58.
Institutional investors have recently made changes to their positions in the stock. Captrust Financial Advisors lifted its position in shares of The Middleby by 31.2% in the fourth quarter. Captrust Financial Advisors now owns 408 shares of the industrial products company’s stock worth $53,000 after purchasing an additional 97 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of The Middleby by 7.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,610 shares of the industrial products company’s stock valued at $208,000 after acquiring an additional 110 shares in the last quarter. TRUE Private Wealth Advisors grew its holdings in shares of The Middleby by 11.8% in the 4th quarter. TRUE Private Wealth Advisors now owns 1,350 shares of the industrial products company’s stock valued at $174,000 after acquiring an additional 142 shares in the last quarter. Profund Advisors LLC increased its position in shares of The Middleby by 4.8% in the fourth quarter. Profund Advisors LLC now owns 3,638 shares of the industrial products company’s stock valued at $469,000 after acquiring an additional 165 shares during the last quarter. Finally, Corbenic Partners LLC bought a new stake in The Middleby during the fourth quarter worth about $26,000.
The Middleby Company Profile
The Middleby Corp. engages in the design, manufacture, marketing, and distribution of foodservice equipment. It operates through the following segments: Commercial Foodservice Equipment Group, Food Processing Equipment Group, Residential Kitchen Equipment Group, and Corporate and Other. The Commercial Foodservice Equipment Group segment manufactures, sells, and distributes foodservice equipment for the restaurant and institutional kitchen industry.
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