$603.57 Million in Sales Expected for Nomad Foods Ltd (NYSE:NOMD) This Quarter

Analysts forecast that Nomad Foods Ltd (NYSE:NOMD) will report $603.57 million in sales for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Nomad Foods’ earnings. The highest sales estimate is $609.17 million and the lowest is $596.10 million. Nomad Foods posted sales of $582.48 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 3.6%. The firm is scheduled to issue its next earnings report before the market opens on Thursday, August 8th.

According to Zacks, analysts expect that Nomad Foods will report full-year sales of $2.61 billion for the current fiscal year, with estimates ranging from $2.59 billion to $2.63 billion. For the next financial year, analysts expect that the company will post sales of $2.67 billion, with estimates ranging from $2.65 billion to $2.71 billion. Zacks’ sales averages are a mean average based on a survey of research firms that follow Nomad Foods.

Nomad Foods (NYSE:NOMD) last announced its quarterly earnings results on Thursday, May 9th. The company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.09. The business had revenue of $617.80 million for the quarter, compared to the consensus estimate of $613.77 million. Nomad Foods had a net margin of 5.83% and a return on equity of 9.84%. Nomad Foods’s revenue for the quarter was up 14.6% on a year-over-year basis. During the same period last year, the company posted $0.35 EPS.

NOMD has been the topic of a number of analyst reports. ValuEngine downgraded shares of Zumiez from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. DA Davidson initiated coverage on shares of Nomad Foods in a research report on Wednesday, June 19th. They issued a “buy” rating and a $26.00 price target on the stock. Goldman Sachs Group initiated coverage on shares of Tricida in a research report on Wednesday, June 26th. They issued a “buy” rating and a $48.00 price target on the stock. TheStreet downgraded shares of Twin Disc from a “b-” rating to a “c+” rating in a research report on Tuesday, June 11th. Finally, Zacks Investment Research downgraded shares of ExlService from a “hold” rating to a “sell” rating in a research report on Wednesday, July 10th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $24.17.

Hedge funds have recently made changes to their positions in the business. New York State Common Retirement Fund boosted its stake in Nomad Foods by 13.7% in the fourth quarter. New York State Common Retirement Fund now owns 124,154 shares of the company’s stock valued at $2,076,000 after acquiring an additional 14,988 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Nomad Foods by 9.7% during the fourth quarter. Bank of New York Mellon Corp now owns 513,168 shares of the company’s stock worth $8,580,000 after buying an additional 45,405 shares during the period. Advisor Group Inc. boosted its stake in shares of Nomad Foods by 87.1% during the fourth quarter. Advisor Group Inc. now owns 4,338 shares of the company’s stock worth $72,000 after buying an additional 2,020 shares during the period. Northern Trust Corp boosted its stake in shares of Nomad Foods by 5.1% during the fourth quarter. Northern Trust Corp now owns 376,259 shares of the company’s stock worth $6,291,000 after buying an additional 18,324 shares during the period. Finally, Natixis Advisors L.P. boosted its stake in shares of Nomad Foods by 24.1% during the fourth quarter. Natixis Advisors L.P. now owns 154,932 shares of the company’s stock worth $2,590,000 after buying an additional 30,112 shares during the period. Hedge funds and other institutional investors own 77.55% of the company’s stock.

Shares of NYSE:NOMD traded down $0.02 during mid-day trading on Tuesday, reaching $22.73. The stock had a trading volume of 861,577 shares, compared to its average volume of 806,431. The company has a market cap of $4.42 billion, a price-to-earnings ratio of 16.12, a PEG ratio of 1.83 and a beta of 0.96. The stock has a 50 day moving average of $21.37. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.15 and a current ratio of 1.54. Nomad Foods has a twelve month low of $15.87 and a twelve month high of $22.97.

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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