Q1 2018 EPS Estimates for Nomad Foods Limited Increased by Analyst (NOMD)

Nomad Foods Limited (NYSE:NOMD) – Research analysts at SunTrust Banks raised their Q1 2018 earnings per share estimates for shares of Nomad Foods in a research report issued on Thursday, April 12th. SunTrust Banks analyst W. Chappell now expects that the company will earn $0.38 per share for the quarter, up from their previous estimate of $0.37. SunTrust Banks also issued estimates for Nomad Foods’ Q2 2018 earnings at $0.34 EPS, Q3 2018 earnings at $0.33 EPS, FY2018 earnings at $1.40 EPS, Q4 2019 earnings at $0.40 EPS and FY2019 earnings at $1.52 EPS.

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Nomad Foods (NYSE:NOMD) last issued its quarterly earnings data on Thursday, March 22nd. The company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.01. The business had revenue of $508.20 million for the quarter, compared to analysts’ expectations of $503.84 million. Nomad Foods had a net margin of 6.96% and a return on equity of 9.43%. The business’s revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the company earned $0.13 EPS.

NOMD has been the topic of a number of other research reports. Zacks Investment Research raised shares of Nomad Foods from a “hold” rating to a “strong-buy” rating and set a $19.00 price objective on the stock in a research note on Saturday, March 17th. ValuEngine raised shares of Nomad Foods from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Nomad Foods currently has an average rating of “Buy” and an average target price of $18.50.

Shares of NYSE NOMD opened at $16.08 on Friday. The company has a market cap of $2,719.58, a PE ratio of 14.23 and a beta of 0.79. Nomad Foods has a 12 month low of $11.27 and a 12 month high of $17.32. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.63 and a current ratio of 1.07.

Several large investors have recently made changes to their positions in NOMD. Bank of New York Mellon Corp lifted its position in shares of Nomad Foods by 72.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 138,648 shares of the company’s stock valued at $2,020,000 after buying an additional 58,386 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of Nomad Foods by 312.9% during the 3rd quarter. Ameriprise Financial Inc. now owns 657,590 shares of the company’s stock valued at $9,581,000 after buying an additional 498,333 shares in the last quarter. Macquarie Group Ltd. purchased a new position in shares of Nomad Foods during the 3rd quarter valued at approximately $487,000. JPMorgan Chase & Co. lifted its position in shares of Nomad Foods by 1,457.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 637,162 shares of the company’s stock valued at $9,252,000 after buying an additional 596,251 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its position in shares of Nomad Foods by 105.4% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 42,814 shares of the company’s stock valued at $624,000 after buying an additional 21,970 shares in the last quarter. Hedge funds and other institutional investors own 74.19% of the company’s stock.

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Nomad Foods Company Profile

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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