Nomad Foods (NOMD) Updates FY18 Earnings Guidance

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Nomad Foods (NYSE:NOMD) issued an update on its FY18 earnings guidance on Thursday morning. The company provided earnings per share guidance of 1.14-1.17 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.18. Nomad Foods also updated its FY 2018 guidance to $1.30-1.33 EPS.

Shares of NOMD stock opened at $20.51 on Friday. Nomad Foods has a 52 week low of $14.32 and a 52 week high of $21.45. The firm has a market capitalization of $3.36 billion, a P/E ratio of 18.15, a price-to-earnings-growth ratio of 0.95 and a beta of 0.89. The company has a quick ratio of 0.90, a current ratio of 1.36 and a debt-to-equity ratio of 0.90.

Nomad Foods (NYSE:NOMD) last announced its quarterly earnings results on Thursday, November 8th. The company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.01. Nomad Foods had a return on equity of 10.44% and a net margin of 8.19%. The company had revenue of $531.00 million during the quarter, compared to analyst estimates of $514.37 million. During the same quarter last year, the firm posted $0.22 earnings per share. The firm’s revenue was up 15.7% on a year-over-year basis. Sell-side analysts anticipate that Nomad Foods will post 1.34 EPS for the current fiscal year.

NOMD has been the subject of a number of research analyst reports. Wells Fargo & Co raised their price target on Nomad Foods from $23.00 to $25.00 and gave the stock a buy rating in a research note on Friday, August 10th. UBS Group raised their price target on Nomad Foods from $21.00 to $23.00 and gave the stock a buy rating in a research note on Friday, August 10th. Barclays initiated coverage on Nomad Foods in a research note on Friday, October 5th. They issued an overweight rating for the company. Zacks Investment Research lowered Nomad Foods from a hold rating to a strong sell rating in a research note on Thursday. Finally, TheStreet upgraded Nomad Foods from a d rating to a c rating in a report on Tuesday, October 16th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of Buy and a consensus target price of $22.17.

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

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