Nomad Foods Ltd (NYSE:NOMD) Expected to Announce Earnings of $0.34 Per Share

Analysts expect Nomad Foods Ltd (NYSE:NOMD) to announce earnings per share of $0.34 for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Nomad Foods’ earnings. The highest EPS estimate is $0.36 and the lowest is $0.33. Nomad Foods posted earnings per share of $0.28 in the same quarter last year, which would suggest a positive year-over-year growth rate of 21.4%. The business is expected to issue its next quarterly earnings report on Thursday, November 5th.

On average, analysts expect that Nomad Foods will report full-year earnings of $1.57 per share for the current year, with EPS estimates ranging from $1.52 to $1.61. For the next year, analysts forecast that the business will post earnings of $1.72 per share, with EPS estimates ranging from $1.69 to $1.74. Zacks’ earnings per share averages are a mean average based on a survey of research firms that follow Nomad Foods.

Nomad Foods (NYSE:NOMD) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.04. The business had revenue of $599.00 million for the quarter, compared to the consensus estimate of $596.27 million. Nomad Foods had a net margin of 7.96% and a return on equity of 9.69%. The business’s revenue was up 11.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.27 EPS.

A number of equities research analysts have recently issued reports on the stock. Citigroup boosted their price target on shares of Nomad Foods from $26.00 to $29.00 and gave the company a “buy” rating in a research note on Friday, August 7th. TheStreet raised shares of Nomad Foods from a “c+” rating to a “b” rating in a research note on Tuesday, August 25th. Berenberg Bank downgraded shares of Nomad Foods from a “buy” rating to a “hold” rating and boosted their price target for the company from $22.00 to $24.00 in a research note on Thursday, September 3rd. Jefferies Financial Group restated a “buy” rating and issued a $25.00 price objective on shares of Nomad Foods in a report on Thursday, August 6th. Finally, Zacks Investment Research upgraded shares of Nomad Foods from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a report on Friday, June 19th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Nomad Foods currently has an average rating of “Buy” and a consensus target price of $25.89.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Tower Research Capital LLC TRC boosted its holdings in shares of Nomad Foods by 609.1% in the 1st quarter. Tower Research Capital LLC TRC now owns 1,957 shares of the company’s stock valued at $36,000 after buying an additional 1,681 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Nomad Foods by 166.5% in the 2nd quarter. PNC Financial Services Group Inc. now owns 2,300 shares of the company’s stock valued at $50,000 after buying an additional 1,437 shares in the last quarter. Bartlett & Co. LLC acquired a new position in shares of Nomad Foods in the 2nd quarter valued at $60,000. CFM Wealth Partners LLC acquired a new position in shares of Nomad Foods in the 1st quarter valued at $59,000. Finally, Financial Management Professionals Inc. acquired a new position in shares of Nomad Foods in the 2nd quarter valued at $70,000. Institutional investors own 75.71% of the company’s stock.

Shares of Nomad Foods stock traded up $0.16 on Friday, reaching $25.01. The company had a trading volume of 1,339,902 shares, compared to its average volume of 1,321,078. The firm’s 50 day moving average price is $24.93 and its two-hundred day moving average price is $21.61. The firm has a market cap of $5.03 billion, a PE ratio of 23.16 and a beta of 0.81. Nomad Foods has a 52-week low of $14.08 and a 52-week high of $26.40. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.35 and a current ratio of 1.68.

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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Earnings History and Estimates for Nomad Foods (NYSE:NOMD)

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