Nomad Foods Ltd (NOMD) Expected to Announce Quarterly Sales of $585.38 Million

Wall Street analysts expect that Nomad Foods Ltd (NYSE:NOMD) will report $585.38 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Nomad Foods’ earnings. The lowest sales estimate is $579.19 million and the highest is $596.52 million. Nomad Foods posted sales of $539.40 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 8.5%. The firm is scheduled to announce its next quarterly earnings results on Tuesday, November 27th.

According to Zacks, analysts expect that Nomad Foods will report full year sales of $2.47 billion for the current year, with estimates ranging from $2.46 billion to $2.49 billion. For the next fiscal year, analysts expect that the company will report sales of $2.62 billion per share, with estimates ranging from $2.59 billion to $2.65 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Nomad Foods.

Nomad Foods (NYSE:NOMD) last announced its quarterly earnings data on Thursday, August 9th. The company reported $0.28 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.04. Nomad Foods had a return on equity of 10.44% and a net margin of 8.19%. The firm had revenue of $488.20 million for the quarter, compared to analysts’ expectations of $482.81 million. During the same period last year, the business posted $0.23 earnings per share. The firm’s revenue for the quarter was up 6.6% on a year-over-year basis.

NOMD has been the topic of several research analyst reports. Wells Fargo & Co initiated coverage on Nomad Foods in a research note on Thursday, June 28th. They set an “outperform” rating and a $23.00 price objective on the stock. ValuEngine cut Nomad Foods from a “buy” rating to a “hold” rating in a research note on Tuesday, May 29th. UBS Group increased their target price on Nomad Foods from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Friday, August 10th. Credit Suisse Group assumed coverage on Nomad Foods in a research report on Tuesday, July 17th. They issued an “outperform” rating and a $24.00 target price on the stock. Finally, Zacks Investment Research raised Nomad Foods from a “sell” rating to a “hold” rating in a research report on Tuesday, July 17th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Nomad Foods has an average rating of “Buy” and an average price target of $22.17.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Oppenheimer Asset Management Inc. increased its position in Nomad Foods by 13.7% in the second quarter. Oppenheimer Asset Management Inc. now owns 22,250 shares of the company’s stock worth $427,000 after buying an additional 2,673 shares during the period. Envestnet Asset Management Inc. increased its position in Nomad Foods by 8.2% in the second quarter. Envestnet Asset Management Inc. now owns 44,983 shares of the company’s stock worth $863,000 after buying an additional 3,409 shares during the period. First Mercantile Trust Co. increased its position in Nomad Foods by 48.4% in the second quarter. First Mercantile Trust Co. now owns 11,190 shares of the company’s stock worth $215,000 after buying an additional 3,650 shares during the period. Gabelli Funds LLC increased its position in Nomad Foods by 50.0% in 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. Finally, Quantbot Technologies LP increased its position in Nomad Foods by 114.2% in the first quarter. Quantbot Technologies LP now owns 12,190 shares of the company’s stock worth $191,000 after buying an additional 6,500 shares during the period. 73.14% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NOMD opened at $20.41 on Tuesday. Nomad Foods has a 12-month low of $14.32 and a 12-month high of $21.15. The firm has a market cap of $3.56 billion, a P/E ratio of 17.99, a PEG ratio of 1.02 and a beta of 0.62. The company has a current ratio of 1.36, a quick ratio of 0.90 and a debt-to-equity ratio of 0.90.

Nomad Foods Company Profile

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

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