The Middleby Corp (NASDAQ: MIDD) has reported earnings for its first fiscal quarter (ending March 31) of $1.61 versus $1.85 for the same period a year ago — a decline of -13%. This result fell short of the consensus estimate of $2.29 by $-0.68. For the latest four quarters through March 31, E.P.S. were $7.24 versus $8.37 for the same period a year ago — a decline of -14%.
Recent Price Action
On 5/8/24, The Middleby Corp (NASDAQ: MIDD) stock declined by -2.3%, closing at $138.58. Moreover, trading volume in this decline was exceptionally high at 226% of normal. Relative to the market the stock has been strong over the last nine months but is unchanged during the last week.
Current PriceTarget Research Rating
Reflecting future returns on capital that are forecasted to exceed the cost of capital, MIDD is expected to continue to be an important Value Builder.
Middleby has a current Value Trend Rating of B (Positive). This rating combines inconsistent signals from two proprietary PTR measures of a stock’s attractiveness. Middleby has a neutral Appreciation Score of 53 but a good Power Rating of 75, triggering the Positive Value Trend Rating.
Rating Review
In light of this new information we are reviewing our current Overall Rating of B. This review will be completed in the next several days.
Be the first to comment