Middleby (NASDAQ:MIDD) Updates FY 2025 Earnings Guidance

Key Points

• Middleby updated its FY 2025 earnings guidance, projecting earnings per share (EPS) between $8.650 and $9.050, lower than the consensus estimate of $9.475.
• The company plans to report revenues of $3.8 billion to $3.9 billion, which also falls short of the consensus revenue estimate of $3.9 billion.
• Following the guidance update, Middleby’s stock rose by 3.8%, reflecting investor reactions to the revised forecasts.

Middleby (NASDAQ:MIDD - Get Free Report) issued an update on its FY 2025 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 8.650-9.050 for the period, compared to the consensus estimate of 9.475. The company issued revenue guidance of $3.8 billion-$3.9 billion, compared to the consensus revenue estimate of $3.9 billion. Middleby also updated its Q3 2025 guidance to 2.040-2.190 EPS.

Middleby Trading Down 0.4%

Shares of NASDAQ MIDD traded down $0.46 during trading hours on Friday, reaching $119.71. The stock had a trading volume of 1,252,786 shares, compared to its average volume of 1,060,553. The company has a current ratio of 2.57, a quick ratio of 1.73 and a debt-to-equity ratio of 0.64. The firm has a market cap of $6.42 billion, a price-to-earnings ratio of 15.23 and a beta of 1.58. The business's fifty day moving average price is $144.33 and its two-hundred day moving average price is $148.46. Middleby has a 52-week low of $118.09 and a 52-week high of $182.73.

Middleby (NASDAQ:MIDD - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The industrial products company reported $2.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.20 by $0.15. The firm had revenue of $977.86 million during the quarter, compared to analyst estimates of $979.59 million. Middleby had a return on equity of 14.14% and a net margin of 11.06%. Middleby's quarterly revenue was down 1.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.39 earnings per share. Analysts expect that Middleby will post 9.11 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Canaccord Genuity Group reduced their price target on Middleby from $186.00 to $162.00 and set a "buy" rating for the company in a research report on Thursday. Barclays reduced their target price on shares of Middleby from $180.00 to $165.00 and set an "overweight" rating for the company in a report on Monday, July 21st. Robert W. Baird lowered their price target on shares of Middleby from $188.00 to $162.00 and set an "outperform" rating on the stock in a report on Thursday, May 8th. Wall Street Zen lowered shares of Middleby from a "buy" rating to a "hold" rating in a research note on Sunday, July 20th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Middleby from $145.00 to $125.00 and set an "underweight" rating for the company in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $159.00.

Insider Activity

In other Middleby news, Director Edward P. Garden purchased 249,339 shares of Middleby stock in a transaction dated Tuesday, May 13th. The shares were acquired at an average cost of $149.59 per share, with a total value of $37,298,621.01. Following the completion of the transaction, the director owned 3,088,263 shares in the company, valued at approximately $461,973,262.17. This trade represents a 8.78% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders acquired 437,910 shares of company stock worth $65,243,811 over the last 90 days. Corporate insiders own 6.18% of the company's stock.

Hedge Funds Weigh In On Middleby

Several hedge funds have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Middleby by 90.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 432 shares of the industrial products company's stock valued at $66,000 after purchasing an additional 205 shares during the last quarter. Focus Partners Wealth boosted its stake in shares of Middleby by 344.7% during the 1st quarter. Focus Partners Wealth now owns 2,228 shares of the industrial products company's stock worth $339,000 after acquiring an additional 1,727 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Middleby by 6.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 157,149 shares of the industrial products company's stock valued at $23,884,000 after buying an additional 9,936 shares in the last quarter. 98.55% of the stock is owned by institutional investors and hedge funds.

About Middleby

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.