Middleby (MIDD) to Release Earnings on Thursday

Middleby (NASDAQ:MIDD - Get Free Report) is scheduled to post its quarterly earnings results before the market opens on Thursday, October 31st. Analysts expect Middleby to post earnings of $2.48 per share for the quarter. Individual that wish to register for the company's earnings conference call can do so using this link.

Middleby (NASDAQ:MIDD - Get Free Report) last released its earnings results on Thursday, August 1st. The industrial products company reported $2.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.31 by $0.08. Middleby had a return on equity of 15.25% and a net margin of 9.90%. The firm had revenue of $991.55 million for the quarter, compared to analyst estimates of $994.05 million. During the same quarter last year, the firm posted $2.47 EPS. The company's 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 Stock Performance

Shares of MIDD traded up $1.96 during mid-day trading on Thursday, hitting $138.08. The company's stock had a trading volume of 397,280 shares, compared to its average volume of 485,794. The stock's 50-day moving average is $137.44 and its two-hundred day moving average is $134.21. The firm has a market capitalization of $7.42 billion, a PE ratio of 18.96 and a beta of 1.58. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.43 and a current ratio of 2.50. Middleby has a one year low of $109.59 and a one year high of $161.01.

Wall Street Analyst Weigh In

MIDD has been the topic of several research analyst reports. Raymond James began coverage on shares of Middleby in a research report on Friday, June 28th. They issued a "market perform" rating on the stock. KeyCorp lowered their price target on Middleby from $175.00 to $160.00 and set an "overweight" rating on the stock in a research note on Monday, July 15th. Robert W. Baird raised their price objective on Middleby from $155.00 to $169.00 and gave the stock an "outperform" rating in a research report on Friday, August 2nd. Canaccord Genuity Group restated a "buy" rating and set a $164.00 price objective on shares of Middleby in a research report on Friday, September 13th. Finally, JPMorgan Chase & Co. raised their target price on Middleby from $118.00 to $120.00 and gave the stock an "underweight" rating in a research report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $156.17.

Middleby Company Profile

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.