Brokerages Anticipate Nomad Foods Ltd (NOMD) Will Announce Earnings of $0.25 Per Share

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Equities research analysts expect that Nomad Foods Ltd (NYSE:NOMD) will post earnings per share of $0.25 for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Nomad Foods’ earnings, with the highest EPS estimate coming in at $0.28 and the lowest estimate coming in at $0.23. Nomad Foods posted earnings of $0.29 per share in the same quarter last year, which would indicate a negative year-over-year growth rate of 13.8%. The business is expected to issue its next quarterly earnings report before the market opens on Thursday, November 8th.

According to Zacks, analysts expect that Nomad Foods will report full-year earnings of $1.29 per share for the current financial year, with EPS estimates ranging from $1.17 to $1.37. For the next financial year, analysts expect that the company will report earnings of $1.41 per share, with EPS estimates ranging from $1.33 to $1.52. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that follow Nomad Foods.

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

Several analysts have commented on the company. Zacks Investment Research upgraded Nomad Foods from a “sell” rating to a “hold” rating in a report on Thursday, October 11th. Barclays assumed coverage on Nomad Foods in a report on Friday, October 5th. They issued an “overweight” rating for the company. Wells Fargo & Co lifted their price target on Nomad Foods from $23.00 to $25.00 and gave the company a “buy” rating in a report on Friday, August 10th. UBS Group lifted their price target on Nomad Foods from $21.00 to $23.00 and gave the company a “buy” rating in a report on Friday, August 10th. Finally, Credit Suisse Group started coverage on Nomad Foods in a report on Tuesday, July 17th. They issued an “outperform” rating and a $24.00 price target for the company. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Nomad Foods presently has a consensus rating of “Buy” and an average price target of $22.17.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NOMD. Fort L.P. acquired a new position in Nomad Foods during the 2nd quarter worth approximately $126,000. Toronto Dominion Bank acquired a new position in shares of Nomad Foods in the 2nd quarter valued at approximately $158,000. Carlson Capital Management acquired a new position in shares of Nomad Foods in the 3rd quarter valued at approximately $203,000. First Mercantile Trust Co. raised its position in shares of Nomad Foods by 48.4% in the 2nd quarter. First Mercantile Trust Co. now owns 11,190 shares of the company’s stock valued at $215,000 after purchasing an additional 3,650 shares in the last quarter. Finally, Sanders Morris Harris LLC acquired a new position in shares of Nomad Foods in the 3rd quarter valued at approximately $227,000. 73.16% of the stock is currently owned by institutional investors and hedge funds.

NOMD opened at $19.11 on Friday. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.36 and a quick ratio of 0.90. The stock has a market capitalization of $3.39 billion, a price-to-earnings ratio of 16.91, a price-to-earnings-growth ratio of 0.96 and a beta of 0.89. Nomad Foods has a 12 month low of $14.32 and a 12 month high of $21.15.

About Nomad Foods

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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