Wall Street analysts forecast that Middleby (MIDD) will report quarterly earnings of $2.50 per share in its upcoming release, pointing to a year-over-year decline of 5.7%. It is anticipated that revenues will amount to $995.24 million, exhibiting a decline of 1.3% compared to the year-ago quarter.

The current level reflects a downward revision of 0.8% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.

Before a company announces its earnings, it is essential to take into account any changes made to earnings estimates. This is a valuable factor in predicting the potential reactions of investors toward the stock. Empirical research has consistently shown a strong correlation between trends in earnings estimate revisions and the short-term price performance of a stock.

While investors typically rely on consensus earnings and revenue estimates to gauge how the business may have fared during the quarter, examining analysts' projections for some of the company's key metrics often helps gain a deeper insight.

In light of this perspective, let's dive into the average estimates of certain Middleby metrics that are commonly tracked and forecasted by Wall Street analysts.

Analysts expect 'Revenue- Commercial Foodservice' to come in at $599.71 million. The estimate points to a change of -4.5% from the year-ago quarter.

Analysts predict that the 'Revenue- Residential Kitchen' will reach $186.56 million. The estimate points to a change of -1.3% from the year-ago quarter.

Analysts' assessment points toward 'Revenue- Food Processing' reaching $208.71 million. The estimate indicates a year-over-year change of +8.9%.

View all Key Company Metrics for Middleby here>>>

Over the past month, shares of Middleby have returned -1.6% versus the Zacks S&P 500 composite's -0.5% change. Currently, MIDD carries a Zacks Rank #3 (Hold), suggesting that its performance may align with the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

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