Wall Street brokerages expect Nomad Foods Ltd (NYSE:NOMD) to announce $0.27 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Nomad Foods’ earnings. The lowest EPS estimate is $0.25 and the highest is $0.28. Nomad Foods posted earnings per share of $0.29 during the same quarter last year, which would suggest a negative year over year growth rate of 6.9%. The firm is expected to report its next quarterly earnings report before the market opens on Thursday, November 8th.
On average, analysts expect that Nomad Foods will report full-year earnings of $1.35 per share for the current fiscal year, with EPS estimates ranging from $1.33 to $1.37. For the next year, analysts expect that the company will post earnings of $1.48 per share, with EPS estimates ranging from $1.39 to $1.54. Zacks Investment Research’s EPS calculations are an average based on a survey of research firms that follow Nomad Foods.
Nomad Foods (NYSE:NOMD) last announced its quarterly earnings data on Thursday, August 9th. The company reported $0.28 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.04. The company had revenue of $488.20 million for the quarter, compared to the consensus estimate of $482.81 million. Nomad Foods had a return on equity of 10.44% and a net margin of 8.19%. Nomad Foods’s quarterly revenue was up 6.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.23 EPS.
Several equities research analysts have weighed in on the company. Zacks Investment Research cut Nomad Foods from a “buy” rating to a “hold” rating in a report on Tuesday, September 4th. TheStreet upgraded Nomad Foods from a “d” rating to a “c” rating in a report on Tuesday, October 16th. Wells Fargo & Co upped their target price on Nomad Foods from $23.00 to $25.00 and gave the stock a “buy” rating in a report on Friday, August 10th. UBS Group upped their target price on Nomad Foods from $21.00 to $23.00 and gave the stock a “buy” rating in a report on Friday, August 10th. Finally, Barclays assumed coverage on Nomad Foods in a report on Friday, October 5th. They issued an “overweight” rating for the company. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Nomad Foods has an average rating of “Buy” and a consensus target price of $22.17.
Shares of NOMD stock opened at $19.48 on Friday. Nomad Foods has a twelve month low of $14.32 and a twelve month high of $21.15. The firm has a market capitalization of $3.39 billion, a price-to-earnings ratio of 17.24, a PEG ratio of 0.96 and a beta of 0.89. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.36 and a quick ratio of 0.90.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Fort L.P. purchased a new stake in shares of Nomad Foods during the 2nd quarter worth $126,000. Toronto Dominion Bank purchased a new stake in shares of Nomad Foods during the 2nd quarter worth $158,000. Carlson Capital Management purchased a new stake in shares of Nomad Foods during the 3rd quarter worth $203,000. First Mercantile Trust Co. lifted its stake in shares of Nomad Foods by 48.4% during the 2nd quarter. First Mercantile Trust Co. now owns 11,190 shares of the company’s stock worth $215,000 after purchasing an additional 3,650 shares during the last quarter. Finally, Sanders Morris Harris LLC purchased a new stake in shares of Nomad Foods during the 3rd quarter worth $227,000. Hedge funds and other institutional investors own 73.18% of the company’s stock.
Nomad Foods Company Profile
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.
Featured Story: How to calculate the intrinsic value of a stock
Get a free copy of the Zacks research report on Nomad Foods (NOMD)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Nomad Foods Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nomad Foods and related companies with MarketBeat.com's FREE daily email newsletter.