Equities analysts expect Nomad Foods Ltd (NYSE:NOMD) to post sales of $593.20 million for the current quarter, Zacks reports. Two analysts have provided estimates for Nomad Foods’ earnings. The lowest sales estimate is $589.88 million and the highest is $596.52 million. Nomad Foods reported sales of $539.40 million in the same quarter last year, which would suggest a positive year over year growth rate of 10%. The business is expected to report its next earnings results on Tuesday, November 27th.
According to Zacks, analysts expect that Nomad Foods will report full-year sales of $2.48 billion for the current financial year, with estimates ranging from $2.47 billion to $2.49 billion. For the next year, analysts anticipate that the business will report sales of $2.62 billion per share, with estimates ranging from $2.57 billion to $2.69 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Nomad Foods.
Nomad Foods (NYSE:NOMD) last announced its earnings results on Thursday, August 9th. The company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.04. Nomad Foods had a net margin of 8.19% and a return on equity of 10.61%. The business had revenue of $488.20 million during the quarter, compared to analysts’ expectations of $482.81 million. During the same period in the prior year, the company earned $0.23 earnings per share. The business’s revenue was up 6.6% compared to the same quarter last year.
NOMD has been the topic of a number of recent analyst reports. Zacks Investment Research lowered shares of Nomad Foods from a “hold” rating to a “sell” rating in a research note on Wednesday, July 11th. Credit Suisse Group initiated coverage on shares of Nomad Foods in a research note on Tuesday, July 17th. They set an “outperform” rating and a $24.00 price target on the stock. UBS Group boosted their price target on shares of Nomad Foods from $21.00 to $23.00 and gave the stock a “buy” rating in a research note on Friday. Wells Fargo & Co boosted their price target on shares of Nomad Foods from $23.00 to $25.00 and gave the stock a “buy” rating in a research note on Friday. Finally, ValuEngine lowered shares of Nomad Foods from a “buy” rating to a “hold” rating in a research note on Tuesday, May 29th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $21.50.
Several institutional investors have recently modified their holdings of the company. Envestnet Asset Management Inc. increased its stake in shares of Nomad Foods by 8.2% during the second quarter. Envestnet Asset Management Inc. now owns 44,983 shares of the company’s stock worth $863,000 after acquiring an additional 3,409 shares during the period. Gabelli Funds LLC grew its position in Nomad Foods by 50.0% during the second quarter. Gabelli Funds LLC now owns 18,000 shares of the company’s stock worth $345,000 after buying an additional 6,000 shares during the period. Investec Asset Management LTD grew its position in Nomad Foods by 11.9% during the second quarter. Investec Asset Management LTD now owns 6,437,533 shares of the company’s stock worth $123,536,000 after buying an additional 682,974 shares during the period. Investec Asset Management PTY Ltd grew its position in Nomad Foods by 371.1% during the second quarter. Investec Asset Management PTY Ltd now owns 224,975 shares of the company’s stock worth $4,332,000 after buying an additional 177,221 shares during the period. Finally, Massey Quick Simon & CO. LLC acquired a new position in Nomad Foods during the second quarter worth about $274,000. Institutional investors and hedge funds own 76.61% of the company’s stock.
Shares of NYSE:NOMD traded down $0.06 on Friday, reaching $19.78. The company’s stock had a trading volume of 948,679 shares, compared to its average volume of 895,187. Nomad Foods has a 52-week low of $13.73 and a 52-week high of $20.07. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.90 and a current ratio of 1.30. The stock has a market capitalization of $3.45 billion, a price-to-earnings ratio of 17.50, a PEG ratio of 1.46 and a beta of 0.53.
About Nomad Foods
Nomad Foods Limited manufactures and distributes frozen foods in Western Europe. The company offers fish products, including fish fingers, coated fish, and natural fish; vegetables, such as peas and spinach; and poultry and meat products comprising nuggets, grills, and burgers. It also provides meals products that include ready to cook noodles, pasta, lasagne, pancakes, and other ready-made meals; and other products, such as soups, pizzas, and bakery goods.
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