Middleby (MIDD) to Release Quarterly Earnings on Thursday

Middleby (NASDAQ:MIDD) is scheduled to issue its quarterly earnings data before the market opens on Thursday, October 31st. Analysts expect the company to announce earnings of $2.48 per share for the quarter. Parties interested in listening to the company’s conference call can do so using this link.

Middleby (NASDAQ:MIDD) last posted its quarterly earnings data on Thursday, August 1st. The industrial products company reported $2.39 EPS for the quarter, topping the consensus estimate of $2.31 by $0.08. Middleby had a net margin of 9.90% and a return on equity of 15.25%. The business had revenue of $991.55 million for the quarter, compared to analyst estimates of $994.05 million. During the same quarter in the previous year, the firm posted $2.47 earnings per share. Middleby’s quarterly revenue was down 4.7% on a year-over-year basis. On average, analysts expect Middleby to post $10 EPS for the current fiscal year and $10 EPS for the next fiscal year.

Middleby Trading Down 1.6 %

NASDAQ:MIDD opened at $138.00 on Wednesday. Middleby has a one year low of $109.59 and a one year high of $161.01. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.50 and a quick ratio of 1.43. The company’s 50-day simple moving average is $137.38 and its 200 day simple moving average is $133.81. The firm has a market capitalization of $7.42 billion, a P/E ratio of 19.22 and a beta of 1.58.

Analysts Set New Price Targets

MIDD has been the topic of several research reports. JPMorgan Chase & Co. boosted their price objective on shares of Middleby from $118.00 to $120.00 and gave the stock an “underweight” rating in a research note on Friday, August 2nd. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $164.00 target price on shares of Middleby in a report on Saturday, September 14th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $164.00 target price on shares of Middleby in a report on Friday, September 13th. Robert W. Baird lifted their target price on shares of Middleby from $155.00 to $169.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Finally, KeyCorp decreased their target price on shares of Middleby from $175.00 to $160.00 and set an “overweight” rating for the company in a report on Monday, July 15th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Middleby currently has a consensus rating of “Moderate Buy” and an average target price of $156.17.

About Middleby

The Middleby Corporation designs, markets, manufactures, distributes, and services foodservice, food processing, and residential kitchen equipment worldwide. Its Commercial Foodservice Equipment Group segment offers conveyor, combi, convection, baking, proofing, deck, speed cooking, and hydrovection ovens; ranges, fryers, and rethermalizers; steam cooking, food warming, catering, induction cooking, and countertop cooking equipment; heated cabinets, charbroilers, ventless cooking systems, kitchen ventilation, toasters, griddles, charcoal grills, professional mixers, stainless steel fabrication, custom millwork, professional refrigerators, blast chillers, cold rooms, ice machines, and freezers; soft serve ice cream, coffee and beverage dispensing, home and professional craft brewing equipment; and fry dispensers, bottle filling and canning equipment, IoT solutions, and controls development and manufacturing.