Middleby (NASDAQ:MIDD) Posts Earnings Results, Misses Estimates By $0.15 EPS

Middleby (NASDAQ:MIDDGet Free Report) announced its quarterly earnings results on Thursday. The industrial products company reported $2.33 earnings per share for the quarter, missing analysts’ consensus estimates of $2.48 by ($0.15), Briefing.com reports. The firm had revenue of $942.81 million for the quarter, compared to the consensus estimate of $996.60 million. Middleby had a return on equity of 15.25% and a net margin of 9.90%. The company’s revenue for the quarter was down 3.9% compared to the same quarter last year. During the same period in the prior year, the business earned $2.35 earnings per share.

Middleby Stock Performance

Middleby stock traded up $0.46 during trading hours on Friday, hitting $130.16. The company had a trading volume of 1,366,312 shares, compared to its average volume of 499,707. The firm has a market cap of $7.00 billion, a PE ratio of 18.20 and a beta of 1.58. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.50 and a quick ratio of 1.43. Middleby has a one year low of $111.75 and a one year high of $161.01. The firm has a 50-day moving average of $136.96 and a 200 day moving average of $133.74.

Analyst Upgrades and Downgrades

Several research firms recently commented on MIDD. Robert W. Baird boosted their price objective on shares of Middleby from $155.00 to $169.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Canaccord Genuity Group cut their price objective on shares of Middleby from $164.00 to $155.00 and set a “buy” rating on the stock in a research report on Friday. JPMorgan Chase & Co. boosted their price objective on shares of Middleby from $118.00 to $120.00 and gave the company an “underweight” rating in a research report on Friday, August 2nd. KeyCorp cut their price target on shares of Middleby from $175.00 to $160.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. Finally, Canaccord Genuity Group reissued a “buy” rating and set a $164.00 price target on shares of Middleby in a research report on Saturday, September 14th. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $154.67.

View Our Latest Report on MIDD

Middleby Company Profile

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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.

See Also

Earnings History for Middleby (NASDAQ:MIDD)

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