The Middleby Corporation (MIDD) Expected to Announce Earnings of $1.38 Per Share

Equities research analysts expect The Middleby Corporation (NASDAQ:MIDD) to report $1.38 earnings per share (EPS) for the current quarter, Zacks reports. Four analysts have made estimates for The Middleby Corporation’s earnings. The lowest EPS estimate is $1.33 and the highest is $1.42. The Middleby Corporation posted earnings per share of $1.35 during the same quarter last year, which would suggest a positive year over year growth rate of 2.2%. The company is expected to issue its next earnings results on Wednesday, August 9th.

According to Zacks, analysts expect that The Middleby Corporation will report full-year earnings of $5.66 per share for the current year, with EPS estimates ranging from $5.50 to $5.85. For the next year, analysts forecast that the company will report earnings of $6.18 per share, with EPS estimates ranging from $5.96 to $6.35. Zacks’ EPS calculations are a mean average based on a survey of sell-side research analysts that cover The Middleby Corporation.

The Middleby Corporation (NASDAQ:MIDD) last issued its quarterly earnings results on Tuesday, May 9th. The industrial products company reported $1.26 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.12. The firm had revenue of $530.30 million during the quarter, compared to the consensus estimate of $542.50 million. The Middleby Corporation had a return on equity of 23.45% and a net margin of 13.16%.

Several research analysts have recently commented on the company. Zacks Investment Research raised The Middleby Corporation from a “sell” rating to a “hold” rating in a report on Thursday, March 2nd. BMO Capital Markets reissued an “outperform” rating and issued a $155.00 target price (down from $160.00) on shares of The Middleby Corporation in a report on Wednesday, May 17th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $144.00.

Hedge funds and other institutional investors have recently bought and sold shares of the company. YorkBridge Wealth Partners LLC boosted its position in The Middleby Corporation by 14.1% in the first quarter. YorkBridge Wealth Partners LLC now owns 728 shares of the industrial products company’s stock valued at $102,000 after buying an additional 90 shares during the period. Van ECK Associates Corp boosted its position in The Middleby Corporation by 7.7% in the first quarter. Van ECK Associates Corp now owns 780 shares of the industrial products company’s stock valued at $106,000 after buying an additional 56 shares during the period. Advisory Services Network LLC bought a new position in The Middleby Corporation during the first quarter valued at $125,000. Bronfman E.L. Rothschild L.P. boosted its position in The Middleby Corporation by 0.9% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 1,029 shares of the industrial products company’s stock valued at $140,000 after buying an additional 9 shares during the period. Finally, Integrated Investment Consultants LLC bought a new position in The Middleby Corporation during the first quarter valued at $149,000. Hedge funds and other institutional investors own 95.55% of the company’s stock.

Shares of The Middleby Corporation (NASDAQ:MIDD) traded up 0.04% on Monday, reaching $131.22. The company had a trading volume of 340,368 shares. The firm has a market capitalization of $7.55 billion, a PE ratio of 24.95 and a beta of 1.74. The company has a 50-day moving average price of $132.71 and a 200-day moving average price of $134.95. The Middleby Corporation has a 52-week low of $108.45 and a 52-week high of $150.87.

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The Middleby Corporation Company Profile

The Middleby Corporation is engaged in the design, manufacture and sale of commercial foodservice, food processing equipment and residential kitchen equipment. The Company operates in three segments: the Commercial Foodservice Equipment Group, the Food Processing Equipment Group and the Residential Kitchen Equipment Group.

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