Nomad Foods Ltd (NYSE:NOMD) Expected to Announce Quarterly Sales of $617.47 Million

Wall Street brokerages expect that Nomad Foods Ltd (NYSE:NOMD) will post sales of $617.47 million for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Nomad Foods’ earnings. The highest sales estimate is $632.35 million and the lowest is $609.17 million. Nomad Foods reported sales of $616.85 million in the same quarter last year, which indicates a positive year-over-year growth rate of 0.1%. The firm is scheduled to issue its next earnings results on Thursday, November 14th.

On average, analysts expect that Nomad Foods will report full year sales of $2.61 billion for the current financial year. For the next fiscal year, analysts expect that the business will post sales of $2.67 billion, with estimates ranging from $2.65 billion to $2.69 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Nomad Foods.

Nomad Foods (NYSE:NOMD) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.30 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.05. Nomad Foods had a return on equity of 9.88% and a net margin of 6.35%. The business had revenue of $537.80 million for the quarter, compared to the consensus estimate of $534.87 million. During the same period last year, the business earned $0.28 EPS. The firm’s revenue was up 10.2% compared to the same quarter last year.

A number of brokerages recently weighed in on NOMD. Citigroup began coverage on Nomad Foods in a research note on Thursday, May 23rd. They issued a “neutral” rating and a $24.00 price objective on the stock. Barclays set a $25.00 price objective on Nomad Foods and gave the company a “buy” rating in a research note on Friday, August 9th. DA Davidson assumed coverage on Nomad Foods in a research report on Wednesday, June 19th. They issued a “buy” rating and a $26.00 price target on the stock. ValuEngine downgraded Nomad Foods from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, Goldman Sachs Group assumed coverage on Nomad Foods in a research report on Wednesday, June 26th. They issued a “buy” rating and a $25.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. Nomad Foods has an average rating of “Hold” and a consensus price target of $24.17.

Shares of NOMD stock traded up $0.60 during trading on Thursday, reaching $20.60. The company had a trading volume of 1,133,321 shares, compared to its average volume of 1,059,230. The firm’s 50 day simple moving average is $22.00 and its two-hundred day simple moving average is $20.93. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.54 and a quick ratio of 1.15. Nomad Foods has a one year low of $15.87 and a one year high of $23.06. The company has a market capitalization of $3.94 billion, a PE ratio of 14.61, a PEG ratio of 1.69 and a beta of 0.96.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Steward Partners Investment Advisory LLC bought a new stake in shares of Nomad Foods during the second quarter valued at approximately $29,000. Investors Research Corp bought a new stake in shares of Nomad Foods during the first quarter valued at approximately $41,000. Advisory Services Network LLC increased its position in shares of Nomad Foods by 133.4% during the second quarter. Advisory Services Network LLC now owns 3,545 shares of the company’s stock valued at $76,000 after purchasing an additional 2,026 shares during the period. First Bank & Trust increased its position in shares of Nomad Foods by 32.9% during the second quarter. First Bank & Trust now owns 3,882 shares of the company’s stock valued at $83,000 after purchasing an additional 960 shares during the period. Finally, Advisor Group Inc. increased its position 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 valued at $72,000 after purchasing an additional 2,020 shares during the period. 77.71% of the stock is currently owned by institutional investors.

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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