Analysts expect that Middleby Corp (NASDAQ:MIDD) will report earnings of $0.38 per share for the current fiscal quarter, according to Zacks. Five analysts have made estimates for Middleby’s earnings, with the lowest EPS estimate coming in at $0.24 and the highest estimate coming in at $0.46. Middleby posted earnings per share of $1.70 in the same quarter last year, which suggests a negative year over year growth rate of 77.6%. The firm is scheduled to report its next earnings results on Wednesday, August 5th.
On average, analysts expect that Middleby will report full year earnings of $4.00 per share for the current year, with EPS estimates ranging from $3.85 to $4.25. For the next fiscal year, analysts expect that the firm will post earnings of $5.16 per share, with EPS estimates ranging from $3.85 to $6.36. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research analysts that cover Middleby.
Middleby (NASDAQ:MIDD) last issued its quarterly earnings data on Thursday, May 7th. The industrial products company reported $1.46 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.39 by $0.07. Middleby had a net margin of 12.10% and a return on equity of 20.40%. The company had revenue of $677.50 million for the quarter, compared to the consensus estimate of $677.37 million. During the same quarter in the prior year, the firm earned $1.24 earnings per share. The firm’s revenue for the quarter was down 1.4% compared to the same quarter last year.
In other Middleby news, Director Robert A. Nerbonne acquired 1,750 shares of the company’s stock in a transaction dated Wednesday, May 13th. The stock was purchased at an average price of $56.76 per share, with a total value of $99,330.00. Also, Director Robert A. Nerbonne acquired 2,700 shares of the company’s stock in a transaction dated Friday, May 29th. The stock was acquired at an average cost of $72.73 per share, with a total value of $196,371.00. Following the purchase, the director now owns 2,443 shares of the company’s stock, valued at $177,679.39. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 7,660 shares of company stock valued at $495,723. Company insiders own 1.98% of the company’s stock.
A number of hedge funds have recently bought and sold shares of MIDD. Verus Capital Partners LLC purchased a new position in Middleby in the fourth quarter valued at $31,000. Point72 Hong Kong Ltd bought a new stake in shares of Middleby in the fourth quarter valued at approximately $64,000. Penserra Capital Management LLC grew its position in Middleby by 111.9% during the fourth quarter. Penserra Capital Management LLC now owns 784 shares of the industrial products company’s stock worth $86,000 after buying an additional 414 shares in the last quarter. Rockefeller Capital Management L.P. grew its holdings in shares of Middleby by 416.6% during the 4th quarter. Rockefeller Capital Management L.P. now owns 904 shares of the industrial products company’s stock worth $99,000 after purchasing an additional 729 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its stake in Middleby by 532.9% during the first quarter. Canada Pension Plan Investment Board now owns 1,886 shares of the industrial products company’s stock worth $107,000 after buying an additional 1,588 shares in the last quarter. Institutional investors and hedge funds own 96.34% of the company’s stock.
Shares of MIDD stock traded down $0.11 on Friday, reaching $74.98. The stock had a trading volume of 1,186,621 shares, compared to its average volume of 1,918,086. The stock has a market cap of $4.17 billion, a P/E ratio of 11.68 and a beta of 1.64. Middleby has a 1 year low of $41.73 and a 1 year high of $142.98. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.46 and a current ratio of 2.48. The company has a 50 day simple moving average of $72.74 and a 200 day simple moving average of $84.71.
Middleby Company Profile
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.
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