The Middleby Corporation (MIDD) Set to Announce Quarterly Earnings on Monday
The Middleby Corporation (NASDAQ:MIDD) will be issuing its quarterly earnings data after the market closes on Monday, November 6th. Analysts expect the company to announce earnings of $1.42 per share for the quarter.
The Middleby Corporation (NASDAQ:MIDD) last issued its quarterly earnings results on Wednesday, August 9th. The industrial products company reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.38 by $0.01. The business had revenue of $579.34 million during the quarter, compared to the consensus estimate of $587.49 million. The Middleby Corporation had a return on equity of 23.05% and a net margin of 13.38%. On average, analysts expect The Middleby Corporation to post $5.53 EPS for the current fiscal year and $6.13 EPS for the next fiscal year.
Shares of The Middleby Corporation (NASDAQ:MIDD) traded down 0.605% during midday trading on Monday, reaching $116.401. The company’s stock had a trading volume of 231,502 shares. The company has a market cap of $6.71 billion, a P/E ratio of 21.802 and a beta of 1.82. The Middleby Corporation has a 12-month low of $109.66 and a 12-month high of $150.87. The stock’s 50-day moving average price is $122.59 and its 200-day moving average price is $126.65.
In related news, Director Gordon Obrien sold 5,600 shares of the company’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $121.41, for a total value of $679,896.00. Following the completion of the sale, the director now directly owns 11,050 shares of the company’s stock, valued at approximately $1,341,580.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director John R. Miller III sold 8,500 shares of the company’s stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $118.50, for a total value of $1,007,250.00. Following the completion of the sale, the director now directly owns 16,000 shares of the company’s stock, valued at $1,896,000. The disclosure for this sale can be found here. 2.00% of the stock is owned by corporate insiders.
Several research analysts have recently issued reports on MIDD shares. Susquehanna Bancshares Inc started coverage on The Middleby Corporation in a research report on Wednesday, September 27th. They set a “positive” rating and a $141.00 price objective for the company. BidaskClub cut The Middleby Corporation from a “sell” rating to a “strong sell” rating in a research report on Friday, August 11th. Robert W. Baird lowered their price objective on The Middleby Corporation from $145.00 to $142.00 and set an “outperform” rating for the company in a research report on Friday, August 11th. Zacks Investment Research cut The Middleby Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, September 19th. Finally, Citigroup Inc. reaffirmed a “neutral” rating and set a $130.00 price objective on shares of The Middleby Corporation in a research report on Thursday, September 7th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. The Middleby Corporation currently has an average rating of “Hold” and an average price target of $142.50.
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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