Wall Street analysts expect that Nomad Foods Ltd (NYSE:NOMD) will report $709.22 million in sales for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Nomad Foods’ earnings, with estimates ranging from $701.32 million to $718.34 million. Nomad Foods posted sales of $662.50 million in the same quarter last year, which would indicate a positive year over year growth rate of 7.1%. The company is scheduled to announce its next earnings report on Thursday, May 9th.
On average, analysts expect that Nomad Foods will report full-year sales of $2.65 billion for the current year, with estimates ranging from $2.63 billion to $2.65 billion. For the next year, analysts forecast that the business will post sales of $2.71 billion, with estimates ranging from $2.69 billion to $2.72 billion. Zacks’ sales calculations are an average based on a survey of analysts that cover Nomad Foods.
Nomad Foods (NYSE:NOMD) last announced its quarterly earnings data on Thursday, February 28th. The company reported $0.33 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.34 by ($0.01). Nomad Foods had a net margin of 7.93% and a return on equity of 10.02%. The company had revenue of $701.58 million for the quarter, compared to the consensus estimate of $673.67 million.
A number of analysts have recently weighed in on NOMD shares. TheStreet upgraded shares of Nomad Foods from a “c” rating to a “b” rating in a report on Friday, March 29th. UBS Group set a $25.00 target price on shares of Nomad Foods and gave the stock a “buy” rating in a report on Friday, March 1st. Finally, Zacks Investment Research upgraded shares of Nomad Foods from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a report on Tuesday, January 22nd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $23.50.
Several institutional investors have recently bought and sold shares of the company. Boston Partners boosted its holdings in shares of Nomad Foods by 4.1% during the fourth quarter. Boston Partners now owns 11,830,603 shares of the company’s stock worth $197,808,000 after purchasing an additional 464,523 shares during the period. Investec Asset Management LTD lifted its holdings in Nomad Foods by 3.9% in the fourth quarter. Investec Asset Management LTD now owns 6,174,039 shares of the company’s stock worth $103,230,000 after buying an additional 233,156 shares during the period. Brown Advisory Inc. lifted its holdings in Nomad Foods by 1.2% in the fourth quarter. Brown Advisory Inc. now owns 4,655,967 shares of the company’s stock worth $77,848,000 after buying an additional 54,670 shares during the period. Samlyn Capital LLC purchased a new stake in Nomad Foods in the fourth quarter worth about $60,166,000. Finally, Acadian Asset Management LLC lifted its holdings in Nomad Foods by 19.6% in the fourth quarter. Acadian Asset Management LLC now owns 3,135,570 shares of the company’s stock worth $52,427,000 after buying an additional 514,220 shares during the period. Institutional investors own 68.96% of the company’s stock.
Shares of NYSE:NOMD traded up $0.04 on Tuesday, reaching $20.40. 826,619 shares of the company traded hands, compared to its average volume of 1,109,069. Nomad Foods has a 52 week low of $15.87 and a 52 week high of $21.81. The stock has a market capitalization of $3.97 billion, a P/E ratio of 14.47, a price-to-earnings-growth ratio of 1.41 and a beta of 1.30. The company has a current ratio of 1.12, a quick ratio of 0.71 and a debt-to-equity ratio of 0.85.
About Nomad Foods
Nomad Foods Limited, together with its subsidiaries, produces, markets, and distributes frozen foods in the United Kingdom, Italy, Germany, Sweden, France, Norway, Austria, Spain, and rest of 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.
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