Nomad Foods Limited (NYSE:NOMD) Expected to Announce Quarterly Sales of $725.34 Million

Wall Street brokerages expect that Nomad Foods Limited (NYSE:NOMD) will announce sales of $725.34 million for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Nomad Foods’ earnings, with the highest sales estimate coming in at $728.06 million and the lowest estimate coming in at $721.61 million. Nomad Foods reported sales of $673.59 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 7.7%. The business is expected to announce its next quarterly earnings results on Thursday, November 4th.

On average, analysts expect that Nomad Foods will report full year sales of $3.12 billion for the current financial year, with estimates ranging from $3.08 billion to $3.14 billion. For the next financial year, analysts expect that the company will post sales of $3.36 billion, with estimates ranging from $3.11 billion to $3.50 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Nomad Foods.

Nomad Foods (NYSE:NOMD) last issued its earnings results on Thursday, August 5th. The company reported $0.40 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.02. The company had revenue of $596.00 million during the quarter, compared to the consensus estimate of $594.65 million. Nomad Foods had a return on equity of 13.01% and a net margin of 8.49%. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. During the same period last year, the business posted $0.34 EPS.

A number of equities analysts have issued reports on the company. Jefferies Financial Group reiterated a “buy” rating on shares of Nomad Foods in a research note on Monday, September 13th. Zacks Investment Research downgraded Nomad Foods from a “hold” rating to a “sell” rating in a research note on Thursday, July 15th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Nomad Foods in a research report on Wednesday, June 9th. Finally, BTIG Research reissued a “buy” rating and set a $35.00 target price on shares of Nomad Foods in a research report on Friday, August 6th. One analyst has rated the stock with a sell rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $32.33.

Several large investors have recently bought and sold shares of NOMD. FMR LLC raised its holdings in Nomad Foods by 7.0% during the 2nd quarter. FMR LLC now owns 11,182,357 shares of the company’s stock valued at $316,126,000 after acquiring an additional 731,048 shares during the period. Boston Partners raised its holdings in Nomad Foods by 0.8% during the 2nd quarter. Boston Partners now owns 8,436,466 shares of the company’s stock valued at $238,443,000 after acquiring an additional 69,705 shares during the period. Alliancebernstein L.P. raised its holdings in Nomad Foods by 17.7% during the 2nd quarter. Alliancebernstein L.P. now owns 5,746,014 shares of the company’s stock valued at $162,440,000 after acquiring an additional 862,409 shares during the period. Renaissance Technologies LLC raised its holdings in Nomad Foods by 3.0% during the 2nd quarter. Renaissance Technologies LLC now owns 4,829,779 shares of the company’s stock valued at $136,538,000 after acquiring an additional 138,700 shares during the period. Finally, Acadian Asset Management LLC raised its holdings in Nomad Foods by 18.8% during the 1st quarter. Acadian Asset Management LLC now owns 4,761,822 shares of the company’s stock valued at $130,759,000 after acquiring an additional 755,069 shares during the period. 76.96% of the stock is currently owned by institutional investors.

Shares of NOMD traded down $0.02 during trading hours on Friday, hitting $28.05. The stock had a trading volume of 10,614 shares, compared to its average volume of 761,973. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.40 and a quick ratio of 1.04. The firm has a 50 day simple moving average of $26.88 and a 200-day simple moving average of $28.10. The firm has a market capitalization of $4.83 billion, a P/E ratio of 20.05 and a beta of 0.71. Nomad Foods has a 1-year low of $22.44 and a 1-year high of $31.85.

Nomad Foods Company Profile

Nomad Foods Ltd. operates as a holding company, which manufactures and sells frozen foods for human consumption. It offers its products under the brands LUTOSA, la Cocinera, Birds Eye, Iglo, and Findus. The company was founded by Noam Gottesman and Sir Martin E. Franklin in April 2014 and is headquartered in Middlesex, the United Kingdom.

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

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