The Middleby Corporation (NASDAQ:MIDD) Set to Announce Earnings on Wednesday
The Middleby Corporation (NASDAQ:MIDD) will be posting its quarterly earnings results after the market closes on Wednesday, August 9th. Analysts expect The Middleby Corporation to post earnings of $1.38 per share for the quarter.
The Middleby Corporation (NASDAQ:MIDD) last announced its earnings results on Tuesday, May 9th. The industrial products company reported $1.26 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.14 by $0.12. The Middleby Corporation had a return on equity of 23.45% and a net margin of 13.16%. The company had revenue of $530.30 million for the quarter, compared to analyst estimates of $542.50 million. On average, analysts expect The Middleby Corporation to post $5.65 EPS for the current fiscal year and $6.22 EPS for the next fiscal year.
Shares of The Middleby Corporation (NASDAQ:MIDD) traded down 0.94% on Tuesday, reaching $128.73. The company had a trading volume of 42,027 shares. The Middleby Corporation has a 52 week low of $108.45 and a 52 week high of $150.87. The company has a 50 day moving average of $125.96 and a 200-day moving average of $132.97. The company has a market capitalization of $7.41 billion, a P/E ratio of 24.47 and a beta of 1.82.
MIDD has been the subject of a number of recent analyst reports. BMO Capital Markets reaffirmed an “outperform” rating and set a $155.00 price target (down from $160.00) on shares of The Middleby Corporation in a report on Wednesday, May 17th. Zacks Investment Research downgraded The Middleby Corporation from a “buy” rating to a “hold” rating in a report on Friday, May 12th. Wellington Shields raised The Middleby Corporation from a “hold” rating to a “gradually accumulate” rating in a report on Tuesday, July 11th. BidaskClub downgraded The Middleby Corporation from a “sell” rating to a “strong sell” rating in a report on Friday, June 23rd. Finally, Seaport Global Securities initiated coverage on The Middleby Corporation in a report on Thursday, June 29th. They set a “neutral” rating and a $128.00 price target for the company. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $141.67.
About The Middleby Corporation
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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