Brokerages Anticipate Nomad Foods Limited (NOMD) to Post $0.23 EPS

Equities research analysts predict that Nomad Foods Limited (NYSE:NOMD) will post $0.23 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Nomad Foods Limited’s earnings, with the lowest EPS estimate coming in at $0.21 and the highest estimate coming in at $0.25. Nomad Foods Limited reported earnings of $0.25 per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 8%. The business is scheduled to announce its next quarterly earnings report before the market opens on Tuesday, November 28th.

According to Zacks, analysts expect that Nomad Foods Limited will report full-year earnings of $1.11 per share for the current fiscal year, with EPS estimates ranging from $1.09 to $1.13. For the next financial year, analysts anticipate that the business will post earnings of $1.30 per share, with EPS estimates ranging from $1.29 to $1.30. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that follow Nomad Foods Limited.

Nomad Foods Limited (NYSE:NOMD) last released its quarterly earnings results on Friday, August 25th. The company reported $0.25 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.03. Nomad Foods Limited had a return on equity of 7.93% and a net margin of 3.56%. The company had revenue of $458.10 million during the quarter, compared to analysts’ expectations of $459.51 million. During the same period in the previous year, the firm posted $0.19 earnings per share. The business’s revenue for the quarter was up .5% compared to the same quarter last year.

A number of equities analysts have recently weighed in on the company. ValuEngine raised Nomad Foods Limited from a “hold” rating to a “buy” rating in a report on Thursday, November 16th. Berenberg Bank initiated coverage on Nomad Foods Limited in a research report on Thursday, November 16th. They issued a “buy” rating and a $18.00 price objective for the company. Finally, Zacks Investment Research downgraded Nomad Foods Limited from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 15th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. Nomad Foods Limited currently has an average rating of “Buy” and an average target price of $15.75.

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Several large investors have recently made changes to their positions in the company. Boston Partners grew its position in shares of Nomad Foods Limited by 28.9% in the third quarter. Boston Partners now owns 8,252,928 shares of the company’s stock valued at $120,245,000 after purchasing an additional 1,852,022 shares during the period. Brown Advisory Inc. purchased a new stake in shares of Nomad Foods Limited in the third quarter valued at $60,398,000. Investec Asset Management LTD purchased a new stake in shares of Nomad Foods Limited in the third quarter valued at $59,739,000. Janus Henderson Group PLC grew its position in shares of Nomad Foods Limited by 45.5% in the third quarter. Janus Henderson Group PLC now owns 3,960,204 shares of the company’s stock valued at $57,700,000 after purchasing an additional 1,238,607 shares during the period. Finally, Victory Capital Management Inc. grew its position in shares of Nomad Foods Limited by 5.7% in the third quarter. Victory Capital Management Inc. now owns 3,387,760 shares of the company’s stock valued at $49,359,000 after purchasing an additional 181,730 shares during the period. 83.08% of the stock is owned by institutional investors and hedge funds.

Nomad Foods Limited (NYSE NOMD) traded up $0.27 during midday trading on Friday, hitting $15.05. The stock had a trading volume of 799,400 shares, compared to its average volume of 949,682. Nomad Foods Limited has a 12 month low of $9.00 and a 12 month high of $15.49. The firm has a market capitalization of $2,550.00 and a PE ratio of 16.24. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.68 and a current ratio of 1.09.

About Nomad Foods Limited

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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