Equities analysts expect that Nomad Foods Ltd (NYSE:NOMD) will announce sales of $585.38 million for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Nomad Foods’ earnings. The lowest sales estimate is $579.19 million and the highest is $596.52 million. Nomad Foods posted sales of $539.40 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 8.5%. The firm is expected to issue its next quarterly earnings results on Tuesday, November 27th.

According to Zacks, analysts expect that Nomad Foods will report full year sales of $2.47 billion for the current fiscal year, with estimates ranging from $2.46 billion to $2.49 billion. For the next fiscal year, analysts anticipate that the company will report sales of $2.62 billion per share, with estimates ranging from $2.59 billion to $2.65 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Nomad Foods.

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

A number of equities analysts have weighed in on NOMD shares. Wells Fargo & Co started coverage on shares of Nomad Foods in a research note on Thursday, June 28th. They set an “outperform” rating and a $23.00 target price for the company. ValuEngine downgraded shares of Nomad Foods from a “buy” rating to a “hold” rating in a research note on Tuesday, May 29th. UBS Group raised their target price on shares of Nomad Foods from $21.00 to $23.00 and gave the company a “buy” rating in a research note on Friday, August 10th. Credit Suisse Group started coverage on shares of Nomad Foods in a research note on Tuesday, July 17th. They set an “outperform” rating and a $24.00 target price for the company. Finally, Zacks Investment Research raised shares of Nomad Foods from a “sell” rating to a “hold” rating in a research note on Tuesday, July 17th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Nomad Foods currently has a consensus rating of “Buy” and a consensus price target of $22.17.

Shares of NYSE NOMD opened at $20.41 on Tuesday. Nomad Foods has a fifty-two week low of $14.32 and a fifty-two week high of $21.15. The company has a market cap of $3.56 billion, a price-to-earnings ratio of 17.99, a price-to-earnings-growth ratio of 1.02 and a beta of 0.62. The company has a quick ratio of 0.90, a current ratio of 1.36 and a debt-to-equity ratio of 0.90.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Fort L.P. bought a new stake in shares of Nomad Foods during the second quarter valued at approximately $126,000. Toronto Dominion Bank bought a new stake in shares of Nomad Foods during the second quarter valued at approximately $158,000. SG Americas Securities LLC bought a new stake in shares of Nomad Foods during the first quarter valued at approximately $161,000. First Mercantile Trust Co. increased its position in shares of Nomad Foods by 48.4% during the second quarter. First Mercantile Trust Co. now owns 11,190 shares of the company’s stock valued at $215,000 after acquiring an additional 3,650 shares in the last quarter. Finally, Sciencast Management LP bought a new stake in shares of Nomad Foods during the first quarter valued at approximately $196,000. 73.14% of the stock is owned by institutional investors.

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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