Brokerages expect Nomad Foods Limited (NYSE:NOMD) to post $710.97 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Nomad Foods' earnings. The highest sales estimate is $731.00 million and the lowest is $675.92 million. Nomad Foods reported sales of $659.44 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 7.8%. The business is scheduled to issue its next quarterly earnings report on Thursday, August 5th.
According to Zacks, analysts expect that Nomad Foods will report full-year sales of $3.20 billion for the current financial year, with estimates ranging from $3.06 billion to $3.27 billion. For the next fiscal year, analysts expect that the business will post sales of $3.43 billion, with estimates ranging from $3.14 billion to $3.58 billion. Zacks' sales calculations are an average based on a survey of research analysts that cover Nomad Foods.
Nomad Foods (NYSE:NOMD) last released its earnings results on Thursday, May 6th. The company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.08. The company had revenue of $707.40 million during the quarter, compared to the consensus estimate of $701.67 million. Nomad Foods had a return on equity of 12.40% and a net margin of 8.90%. Nomad Foods's revenue was up 3.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.33 EPS.
Several research firms have weighed in on NOMD. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of Nomad Foods in a research report on Wednesday, June 9th. Zacks Investment Research downgraded Nomad Foods from a "hold" rating to a "sell" rating in a research report on Thursday, July 15th. Finally, Credit Suisse Group lifted their target price on Nomad Foods from $31.00 to $32.00 and gave the company an "outperform" rating in a research report on Tuesday, March 30th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company. The company currently has a consensus rating of "Buy" and a consensus target price of $29.67.
NYSE NOMD opened at $26.69 on Friday. The firm has a market cap of $4.60 billion, a P/E ratio of 19.06 and a beta of 0.72. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.77 and a current ratio of 1.13. The firm has a 50-day moving average price of $29.21. Nomad Foods has a 1-year low of $21.52 and a 1-year high of $31.85.
A number of hedge funds have recently bought and sold shares of the stock. Vaughan Nelson Investment Management L.P. purchased a new stake in Nomad Foods during the second quarter worth approximately $45,113,000. Cooper Financial Group purchased a new stake in Nomad Foods during the second quarter worth approximately $258,000. Schroder Investment Management Group lifted its stake in Nomad Foods by 16.0% during the first quarter. Schroder Investment Management Group now owns 6,555 shares of the company's stock worth $180,000 after purchasing an additional 904 shares during the last quarter. Factorial Partners LLC lifted its stake in Nomad Foods by 2,646.0% during the first quarter. Factorial Partners LLC now owns 1,702,520 shares of the company's stock worth $62,000,000 after purchasing an additional 1,640,520 shares during the last quarter. Finally, Voloridge Investment Management LLC lifted its stake in Nomad Foods by 37.2% during the first quarter. Voloridge Investment Management LLC now owns 234,599 shares of the company's stock worth $6,442,000 after purchasing an additional 63,644 shares during the last quarter. Hedge funds and other institutional investors own 75.59% of the company's stock.
Nomad Foods Company Profile
Nomad Foods Limited 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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