Analysts forecast that Middleby Corp (NASDAQ:MIDD) will announce earnings per share (EPS) of $1.81 for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for Middleby’s earnings, with estimates ranging from $1.79 to $1.83. Middleby reported earnings of $1.79 per share in the same quarter last year, which indicates a positive year over year growth rate of 1.1%. The business is expected to issue its next quarterly earnings report on Wednesday, February 26th.

According to Zacks, analysts expect that Middleby will report full year earnings of $6.75 per share for the current fiscal year, with EPS estimates ranging from $6.46 to $6.88. For the next financial year, analysts anticipate that the firm will post earnings of $7.47 per share, with EPS estimates ranging from $7.39 to $7.51. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that follow Middleby.

Middleby (NASDAQ:MIDD) last released its earnings results on Wednesday, November 6th. The industrial products company reported $1.72 earnings per share for the quarter, beating analysts’ consensus estimates of $1.63 by $0.09. Middleby had a return on equity of 20.81% and a net margin of 11.55%. The company had revenue of $724.00 million during the quarter, compared to analyst estimates of $760.88 million. During the same quarter in the previous year, the company posted $1.56 EPS. Middleby’s revenue for the quarter was up 1.5% on a year-over-year basis.

A number of research analysts have commented on MIDD shares. Wellington Shields lowered Middleby from a “gradually accumulate” rating to a “hold” rating in a research report on Thursday, November 7th. Zacks Investment Research raised Middleby from a “sell” rating to a “hold” rating and set a $126.00 price target for the company in a research report on Wednesday, October 23rd. TheStreet lowered Middleby from a “b-” rating to a “c” rating in a research report on Thursday, August 29th. Citigroup reduced their target price on Middleby from $138.00 to $125.00 and set a “neutral” rating on the stock in a report on Wednesday, August 14th. Finally, Buckingham Research set a $153.00 target price on Middleby and gave the stock a “buy” rating in a report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Middleby has an average rating of “Hold” and a consensus price target of $141.57.

In related news, Director Robert A. Nerbonne purchased 455 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The shares were bought at an average price of $111.21 per share, for a total transaction of $50,600.55. Following the purchase, the director now directly owns 1,282 shares of the company’s stock, valued at approximately $142,571.22. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert A. Nerbonne purchased 420 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was bought at an average price of $120.24 per share, for a total transaction of $50,500.80. Following the purchase, the director now directly owns 1,282 shares in the company, valued at $154,147.68. The disclosure for this purchase can be found here. Corporate insiders own 1.98% of the company’s stock.

Institutional investors have recently bought and sold shares of the stock. Royal Bank of Canada grew its stake in shares of Middleby by 2.4% in the 2nd quarter. Royal Bank of Canada now owns 94,486 shares of the industrial products company’s stock worth $12,821,000 after buying an additional 2,189 shares during the last quarter. Andra AP fonden boosted its stake in Middleby by 77.9% during the 2nd quarter. Andra AP fonden now owns 20,100 shares of the industrial products company’s stock valued at $2,728,000 after purchasing an additional 8,800 shares during the last quarter. Leith Wheeler Investment Counsel Ltd. boosted its stake in Middleby by 2.2% during the 3rd quarter. Leith Wheeler Investment Counsel Ltd. now owns 37,875 shares of the industrial products company’s stock valued at $4,428,000 after purchasing an additional 810 shares during the last quarter. Pictet Asset Management Ltd. boosted its stake in Middleby by 33.4% during the 2nd quarter. Pictet Asset Management Ltd. now owns 354,060 shares of the industrial products company’s stock valued at $48,046,000 after purchasing an additional 88,590 shares during the last quarter. Finally, Aperio Group LLC boosted its stake in Middleby by 1.6% during the 2nd quarter. Aperio Group LLC now owns 16,105 shares of the industrial products company’s stock valued at $2,185,000 after purchasing an additional 258 shares during the last quarter. Institutional investors own 94.48% of the company’s stock.

MIDD traded up $0.42 during midday trading on Tuesday, reaching $119.00. 217,400 shares of the company’s stock traded hands, compared to its average volume of 405,011. The firm has a fifty day moving average of $116.86 and a two-hundred day moving average of $125.40. The stock has a market capitalization of $6.68 billion, a price-to-earnings ratio of 19.51 and a beta of 1.63. The company has a debt-to-equity ratio of 1.05, a current ratio of 2.05 and a quick ratio of 1.00. Middleby has a 52 week low of $96.65 and a 52 week high of $142.98.

About Middleby

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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