Brokerages expect Nomad Foods Ltd (NYSE:NOMD) to post $702.00 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Nomad Foods’ earnings, with estimates ranging from $698.12 million to $705.87 million. Nomad Foods posted sales of $701.58 million in the same quarter last year, which suggests a positive year-over-year growth rate of 0.1%. The firm is expected to announce its next quarterly earnings results on Thursday, February 27th.
On average, analysts expect that Nomad Foods will report full-year sales of $2.59 billion for the current year, with estimates ranging from $2.58 billion to $2.60 billion. For the next fiscal year, analysts forecast that the firm will report sales of $2.66 billion, with estimates ranging from $2.66 billion to $2.67 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow Nomad Foods.
Nomad Foods (NYSE:NOMD) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.25 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.01. Nomad Foods had a net margin of 6.43% and a return on equity of 9.50%. The company had revenue of $540.00 million for the quarter, compared to the consensus estimate of $543.51 million. During the same quarter last year, the firm posted $0.26 EPS. The firm’s revenue was up 1.7% compared to the same quarter last year.
Several research analysts have issued reports on the stock. Deutsche Bank initiated coverage on shares of Nomad Foods in a report on Wednesday, December 11th. They set a “buy” rating and a $27.00 target price on the stock. Zacks Investment Research upgraded shares of Nomad Foods from a “sell” rating to a “buy” rating and set a $25.00 price target for the company in a report on Friday. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $25.29.
NOMD stock opened at $21.27 on Tuesday. Nomad Foods has a 1-year low of $17.22 and a 1-year high of $23.06. The business has a 50-day moving average price of $21.34 and a 200 day moving average price of $20.95. The company has a market capitalization of $4.16 billion, a P/E ratio of 15.09, a PEG ratio of 1.68 and a beta of 1.03. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.70 and a quick ratio of 1.21.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Venturi Wealth Management LLC purchased a new position in shares of Nomad Foods in the 3rd quarter worth approximately $92,000. Toronto Dominion Bank acquired a new stake in Nomad Foods in the second quarter valued at approximately $158,000. Massey Quick Simon & CO. LLC purchased a new position in Nomad Foods in the third quarter worth $167,000. Ellington Management Group LLC purchased a new position in Nomad Foods in the second quarter worth $218,000. Finally, Bailard Inc. acquired a new position in shares of Nomad Foods during the third quarter worth $334,000. 78.31% of the stock is currently owned by institutional investors and hedge funds.
Nomad Foods Company Profile
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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