Brokerages Expect Middleby Corp (MIDD) Will Post Earnings of $1.63 Per Share

Equities research analysts expect that Middleby Corp (NASDAQ:MIDD) will announce $1.63 earnings per share (EPS) for the current quarter, according to Zacks. Four analysts have made estimates for Middleby’s earnings, with the lowest EPS estimate coming in at $1.55 and the highest estimate coming in at $1.68. Middleby posted earnings per share of $1.48 during the same quarter last year, which would indicate a positive year-over-year growth rate of 10.1%. The business is scheduled to issue its next earnings results on Tuesday, February 26th.

On average, analysts expect that Middleby will report full year earnings of $5.98 per share for the current year, with EPS estimates ranging from $5.89 to $6.05. For the next financial year, analysts expect that the firm will post earnings of $6.93 per share, with EPS estimates ranging from $6.70 to $7.20. Zacks’ EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Middleby.

Middleby (NASDAQ:MIDD) last posted its earnings results on Wednesday, November 7th. The industrial products company reported $1.56 EPS for the quarter, missing the consensus estimate of $1.57 by ($0.01). The firm had revenue of $713.30 million during the quarter, compared to the consensus estimate of $731.46 million. Middleby had a net margin of 11.45% and a return on equity of 22.14%. Middleby’s revenue for the quarter was up 20.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.36 earnings per share.

Several research firms have commented on MIDD. Seaport Global Securities upgraded Middleby from a “neutral” rating to a “buy” rating in a research report on Wednesday, November 14th. BidaskClub upgraded Middleby from a “hold” rating to a “buy” rating in a research report on Tuesday, November 13th. Zacks Investment Research downgraded Middleby from a “buy” rating to a “hold” rating in a research report on Tuesday, November 13th. Buckingham Research upgraded Middleby from a “neutral” rating to a “buy” rating and increased their target price for the company from $115.00 to $174.00 in a research report on Monday, September 24th. Finally, TheStreet upgraded Middleby from a “c+” rating to a “b-” rating in a research report on Wednesday, September 5th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company. Middleby has an average rating of “Buy” and a consensus price target of $139.83.

Middleby stock opened at $112.01 on Tuesday. The company has a quick ratio of 0.99, a current ratio of 1.88 and a debt-to-equity ratio of 1.24. The stock has a market capitalization of $6.25 billion, a price-to-earnings ratio of 19.13 and a beta of 1.88. Middleby has a 12 month low of $98.06 and a 12 month high of $138.89.

A number of institutional investors have recently bought and sold shares of the business. EdgePoint Investment Group Inc. increased its stake in shares of Middleby by 152.2% in the second quarter. EdgePoint Investment Group Inc. now owns 5,005,532 shares of the industrial products company’s stock valued at $522,678,000 after buying an additional 3,020,865 shares during the period. Janus Henderson Group PLC increased its stake in shares of Middleby by 29.1% in the second quarter. Janus Henderson Group PLC now owns 2,683,129 shares of the industrial products company’s stock valued at $280,172,000 after buying an additional 604,451 shares during the period. Waddell & Reed Financial Inc. increased its stake in shares of Middleby by 98.8% in the second quarter. Waddell & Reed Financial Inc. now owns 799,138 shares of the industrial products company’s stock valued at $83,446,000 after buying an additional 397,157 shares during the period. Capital Research Global Investors increased its stake in shares of Middleby by 6.8% in the third quarter. Capital Research Global Investors now owns 3,719,552 shares of the industrial products company’s stock valued at $481,124,000 after buying an additional 235,328 shares during the period. Finally, First Trust Advisors LP acquired a new stake in shares of Middleby in the third quarter valued at about $13,832,000.

About Middleby

The Middleby Corporation designs, manufactures, markets, distributes, and services foodservice, food processing, and residential kitchen equipment in the United States, Canada, Asia, Europe, the Middle East, and Latin America. Its Commercial Foodservice Equipment Group segment offers cooking and warming equipment for quick and full-service restaurants, convenience stores, retail outlets, hotels, and other institutions.

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Earnings History and Estimates for Middleby (NASDAQ:MIDD)

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