Zacks: Brokerages Expect Nomad Foods Limited (NOMD) Will Announce Quarterly Sales of $525.17 Million
Equities research analysts expect Nomad Foods Limited (NYSE:NOMD) to report sales of $525.17 million for the current quarter, according to Zacks. Two analysts have provided estimates for Nomad Foods Limited’s earnings, with the lowest sales estimate coming in at $521.46 million and the highest estimate coming in at $528.87 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 issue its next quarterly earnings report on Tuesday, December 5th.
On average, analysts expect that Nomad Foods Limited will report full year sales of $525.17 million for the current year, with estimates ranging from $2.26 billion to $2.28 billion. For the next fiscal year, analysts forecast that the business will post sales of $2.30 billion per share, with estimates ranging from $2.29 billion to $2.30 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover Nomad Foods Limited.
Nomad Foods Limited (NYSE:NOMD) last issued its quarterly earnings results on Friday, August 25th. The company reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.03. The business had revenue of $458.10 million during the quarter, compared to analyst estimates of $459.51 million. Nomad Foods Limited had a net margin of 3.56% and a return on equity of 7.93%. Nomad Foods Limited’s revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter last year, the business posted $0.19 earnings per share.
Separately, Zacks Investment Research lowered shares of Nomad Foods Limited from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 15th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Nomad Foods Limited has a consensus rating of “Buy” and an average price target of $15.00.
A number of hedge funds have recently bought and sold shares of the business. Victory Capital Management Inc. boosted its position in shares of Nomad Foods Limited by 5.7% during the 3rd quarter. Victory Capital Management Inc. now owns 3,387,760 shares of the company’s stock valued at $49,359,000 after acquiring an additional 181,730 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of Nomad Foods Limited by 25.7% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,530,548 shares of the company’s stock valued at $21,596,000 after acquiring an additional 312,815 shares during the last quarter. Cubist Systematic Strategies LLC boosted its position in shares of Nomad Foods Limited by 106.4% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 121,677 shares of the company’s stock valued at $1,717,000 after acquiring an additional 62,723 shares during the last quarter. Elliott Management Corp bought a new position in shares of Nomad Foods Limited during the 2nd quarter valued at approximately $15,427,000. Finally, Janus Henderson Group PLC bought a new position in shares of Nomad Foods Limited during the 2nd quarter valued at approximately $38,402,000. Institutional investors and hedge funds own 78.18% of the company’s stock.
Nomad Foods Limited (NYSE:NOMD) opened at 15.00 on Monday. The stock’s 50 day moving average is $14.91 and its 200-day moving average is $13.97. The company has a market capitalization of $2.59 billion and a PE ratio of 33.26. Nomad Foods Limited has a 12 month low of $9.00 and a 12 month high of $15.49.
About Nomad Foods Limited
Nomad Foods Limited manufactures and distributes frozen foods primarily in the United Kingdom, Italy, Germany, Sweden, France, and Norway. The companys 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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