Reports Strong First-Quarter Financial Results The Middleby (NASDAQ:MIDD)

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Earnings results for The Middleby (NASDAQ:MIDD)

The Middleby Corporation is expected* to report earnings on 11/05/2020 before market open. The report will be for the fiscal Quarter ending Sep 2020. According to Zacks Investment Research, based on 6 analysts’ forecasts, the consensus EPS forecast for the quarter is $1.02. The reported EPS for the same quarter last year was $1.72.

The Middleby last issued its quarterly earnings results on August 5th, 2020. The industrial products company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.14. The company had revenue of $472 million for the quarter, compared to the consensus estimate of $445.90 million. Its quarterly revenue was down 38.0% compared to the same quarter last year. The Middleby has generated $7.02 earnings per share over the last year and currently has a price-to-earnings ratio of 20.0. The Middleby has confirmed that its next quarterly earnings report will be published on Thursday, November 5th, 2020.

Analyst Opinion on The Middleby (NASDAQ:MIDD)

5 Wall Street analysts have issued ratings and price targets for The Middleby in the last 12 months. Their average twelve-month price target is $96.50, predicting that the stock has a possible downside of 6.45%. The high price target for MIDD is $120.00 and the low price target for MIDD is $86.00. There are currently 2 hold ratings and 3 buy ratings for the stock, resulting in a consensus rating of “Buy.”

The Middleby has received a consensus rating of Buy. The company’s average rating score is 2.60, and is based on 3 buy ratings, 2 hold ratings, and no sell ratings. According to analysts’ consensus price target of $96.50, The Middleby has a forecasted downside of 6.4% from its current price of $103.15. The Middleby has only been the subject of 1 research reports in the past 90 days.

Dividend Strength: The Middleby (NASDAQ:MIDD)

The Middleby does not currently pay a dividend. The Middleby does not have a long track record of dividend growth.

Insiders buying/selling: The Middleby (NASDAQ:MIDD)

In the past three months, The Middleby insiders have not sold or bought any company stock. Only 2.41% of the stock of The Middleby is held by insiders.

Earnings and Valuation of The Middleby (NASDAQ:MIDD

Earnings for The Middleby are expected to grow by 24.07% in the coming year, from $4.32 to $5.36 per share. The P/E ratio of The Middleby is 20.03, which means that it is trading at a more expensive P/E ratio than the market average P/E ratio of about 19.27. The P/E ratio of The Middleby is 20.03, which means that it is trading at a less expensive P/E ratio than the Industrial Products sector average P/E ratio of about 30.94. The Middleby has a P/B Ratio of 2.97. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

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