Brokerages Anticipate Nomad Foods Ltd (NYSE:NOMD) Will Post Quarterly Sales of $603.57 Million

Brokerages expect Nomad Foods Ltd (NYSE:NOMD) to post sales of $603.57 million for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Nomad Foods’ earnings, with the lowest sales estimate coming in at $596.10 million and the highest estimate coming in at $609.17 million. Nomad Foods posted sales of $582.48 million in the same quarter last year, which suggests a positive year over year growth rate of 3.6%. The firm is scheduled to announce its next earnings results on Thursday, August 8th.

On average, analysts expect that Nomad Foods will report full year sales of $2.61 billion for the current financial year, with estimates ranging from $2.59 billion to $2.63 billion. For the next financial year, analysts anticipate that the firm will post sales of $2.67 billion, with estimates ranging from $2.65 billion to $2.71 billion. Zacks’ sales calculations 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 issued its earnings results on Thursday, May 9th. The company reported $0.47 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.09. Nomad Foods had a net margin of 5.83% and a return on equity of 9.84%. The firm had revenue of $617.80 million for the quarter, compared to analysts’ expectations of $613.77 million. During the same quarter last year, the company posted $0.35 earnings per share. Nomad Foods’s revenue was up 14.6% on a year-over-year basis.

A number of equities analysts have issued reports on NOMD shares. 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. Zacks Investment Research cut shares of Nomad Foods from a “buy” rating to a “hold” rating in a report on Wednesday, March 6th. TheStreet raised Nomad Foods from a “c” rating to a “b” rating in a report on Friday, March 29th. Citigroup initiated coverage on Nomad Foods in a report on Thursday, May 23rd. They set a “neutral” rating and a $24.00 price target on the stock. Finally, DA Davidson initiated coverage on Nomad Foods in a report on Wednesday, June 19th. They set a “buy” rating and a $26.00 price target on the stock. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $24.14.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Samlyn Capital LLC acquired a new position in shares of Nomad Foods during the fourth quarter valued at approximately $60,166,000. Norges Bank acquired a new position in shares of Nomad Foods during the fourth quarter valued at approximately $27,591,000. Laurion Capital Management LP acquired a new position in shares of Nomad Foods during the first quarter valued at approximately $19,971,000. Marshall Wace LLP increased its stake in shares of Nomad Foods by 592.0% during the first quarter. Marshall Wace LLP now owns 1,007,633 shares of the company’s stock valued at $20,606,000 after acquiring an additional 862,031 shares during the period. Finally, Sycomore Asset Management acquired a new position in shares of Nomad Foods during the fourth quarter valued at approximately $13,564,000. 77.55% of the stock is currently owned by institutional investors.

NYSE NOMD traded up $0.61 during trading hours on Friday, reaching $21.36. The company’s stock had a trading volume of 1,451,204 shares, compared to its average volume of 1,106,072. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.15 and a current ratio of 1.54. The company has a 50-day moving average of $21.20. Nomad Foods has a 52 week low of $15.87 and a 52 week high of $22.67. The company has a market cap of $3.96 billion, a PE ratio of 15.15, a PEG ratio of 1.64 and a beta of 1.09.

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

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