Q1 2020 Earnings Estimate for Middleby Corp Issued By Jefferies Financial Group (NASDAQ:MIDD)

Middleby Corp (NASDAQ:MIDD) – Analysts at Jefferies Financial Group upped their Q1 2020 earnings estimates for Middleby in a report released on Wednesday, November 6th. Jefferies Financial Group analyst S. Boroditsky now anticipates that the industrial products company will post earnings of $1.70 per share for the quarter, up from their previous forecast of $1.63. Jefferies Financial Group also issued estimates for Middleby’s Q3 2020 earnings at $1.80 EPS, FY2020 earnings at $7.48 EPS, Q1 2021 earnings at $1.77 EPS, Q3 2021 earnings at $1.95 EPS, FY2021 earnings at $7.90 EPS and FY2022 earnings at $8.39 EPS.

Middleby (NASDAQ:MIDD) last posted its quarterly earnings data on Wednesday, November 6th. The industrial products company reported $1.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.63 by $0.09. Middleby had a net margin of 11.27% and a return on equity of 21.17%. The company had revenue of $724.00 million during the quarter, compared to the consensus estimate of $760.88 million. During the same period in the previous year, the firm posted $1.56 EPS. The firm’s revenue was up 1.5% compared to the same quarter last year.

Other analysts also recently issued reports about the stock. Citigroup lowered their price target on shares of Middleby from $138.00 to $125.00 and set a “neutral” rating for the company in a research note on Wednesday, August 14th. Buckingham Research set a $153.00 price target on shares of Middleby and gave the stock a “buy” rating in a research note on Wednesday, August 7th. BidaskClub raised shares of Middleby from a “sell” rating to a “hold” rating in a research note on Wednesday, October 23rd. ValuEngine downgraded shares of Middleby from a “hold” rating to a “sell” rating in a research note on Monday. Finally, Zacks Investment Research raised shares of Middleby from a “sell” rating to a “hold” rating and set a $126.00 price target for the company in a research note on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $141.57.

Shares of NASDAQ MIDD traded up $1.43 during mid-day trading on Friday, reaching $120.05. 192,300 shares of the company were exchanged, compared to its average volume of 406,974. Middleby has a 52 week low of $96.65 and a 52 week high of $142.98. The company has a quick ratio of 1.01, a current ratio of 2.10 and a debt-to-equity ratio of 1.11. The stock has a market capitalization of $6.94 billion, a PE ratio of 19.68 and a beta of 1.63. The company’s 50 day moving average price is $116.65 and its 200 day moving average price is $125.61.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Quantamental Technologies LLC purchased a new position in shares of Middleby during the second quarter valued at about $40,000. Steward Partners Investment Advisory LLC purchased a new stake in Middleby in the second quarter worth about $66,000. Tower Research Capital LLC TRC grew its holdings in Middleby by 5,606.7% in the third quarter. Tower Research Capital LLC TRC now owns 856 shares of the industrial products company’s stock worth $100,000 after purchasing an additional 841 shares during the period. CNB Bank grew its holdings in Middleby by 266.4% in the third quarter. CNB Bank now owns 894 shares of the industrial products company’s stock worth $105,000 after purchasing an additional 650 shares during the period. Finally, Quest Capital Management Inc. ADV purchased a new stake in Middleby in the third quarter worth about $114,000. Institutional investors own 94.74% of the company’s stock.

In related news, Director Robert A. Nerbonne purchased 455 shares of Middleby stock in a transaction that occurred on Wednesday, August 14th. The shares were bought at an average price of $111.21 per share, for a total transaction of $50,600.55. Following the completion of the transaction, the director now directly owns 1,282 shares of the company’s stock, valued at $142,571.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.98% of the stock is owned by insiders.

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 foodservice equipment for quick and full-service restaurants, convenience stores, retail outlets, hotels, and other institutions.

Recommended Story: Cash Flow Analysis in Stock Selection

Earnings History and Estimates for Middleby (NASDAQ:MIDD)

Receive News & Ratings for Middleby Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Middleby and related companies with MarketBeat.com's FREE daily email newsletter.