Zacks: Brokerages Anticipate Nomad Foods Limited (NOMD) Will Announce Quarterly Sales of $525.17 Million

Brokerages predict that Nomad Foods Limited (NYSE:NOMD) will report sales of $525.17 million for the current quarter, Zacks reports. Two analysts have made estimates for Nomad Foods Limited’s earnings. The highest sales estimate is $528.87 million and the lowest is $521.46 million. Nomad Foods Limited reported sales of $490.33 million during the same quarter last year, which would suggest a positive year over year growth rate of 7.1%. The company is scheduled to announce its next earnings results before the market opens on Tuesday, November 28th.

On average, analysts expect that Nomad Foods Limited will report full-year sales of $525.17 million for the current fiscal year, with estimates ranging from $2.26 billion to $2.28 billion. For the next financial year, analysts forecast that the firm will report sales of $2.30 billion per share, with estimates ranging from $2.29 billion to $2.30 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Nomad Foods Limited.

Nomad Foods Limited (NYSE:NOMD) last announced its quarterly earnings results on Friday, August 25th. The company reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.03. Nomad Foods Limited had a net margin of 3.56% and a return on equity of 7.93%. The company had revenue of $458.10 million for the quarter, compared to analysts’ expectations of $459.51 million. During the same quarter in the previous year, the business posted $0.19 earnings per share. Nomad Foods Limited’s quarterly revenue was up .5% on a year-over-year basis.

Separately, Zacks Investment Research lowered Nomad Foods Limited from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 15th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $15.00.

A number of hedge funds have recently made changes to their positions in NOMD. Janus Henderson Group PLC purchased a new position in Nomad Foods Limited in the 2nd quarter valued at $38,402,000. GMT Capital Corp purchased a new position in Nomad Foods Limited in the 2nd quarter valued at $36,674,000. Victory Capital Management Inc. lifted its holdings in Nomad Foods Limited by 296.5% in the 2nd quarter. Victory Capital Management Inc. now owns 3,206,030 shares of the company’s stock valued at $45,237,000 after purchasing an additional 2,397,440 shares in the last quarter. Boston Partners lifted its holdings in Nomad Foods Limited by 28.9% in the 3rd quarter. Boston Partners now owns 8,252,928 shares of the company’s stock valued at $120,245,000 after purchasing an additional 1,852,022 shares in the last quarter. Finally, Laurion Capital Management LP purchased a new position in Nomad Foods Limited in the 2nd quarter valued at $25,466,000. Institutional investors own 78.17% of the company’s stock.

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About Nomad Foods Limited

Nomad Foods Limited manufactures and distributes frozen foods primarily in the United Kingdom, Italy, Germany, Sweden, France, and Norway. The company’s frozen food products include fish, vegetables, poultry products, and ready meals. It sells its products directly or through distribution arrangements to supermarkets and large food retail chains under the Birdseye, Findus, and Iglo brands.

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