$603.57 Million in Sales Expected for Nomad Foods Ltd (NYSE:NOMD) This Quarter

Brokerages predict that Nomad Foods Ltd (NYSE:NOMD) will announce $603.57 million in sales for the current quarter, Zacks reports. Four analysts have made estimates for Nomad Foods’ earnings, with the lowest sales estimate coming in at $596.10 million and the highest estimate coming in at $609.17 million. Nomad Foods posted sales of $582.48 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 3.6%. The firm is scheduled to announce its next earnings results before the market opens on Thursday, August 8th.

On average, analysts expect that Nomad Foods will report full-year sales of $2.61 billion for the current fiscal year, with estimates ranging from $2.59 billion to $2.63 billion. For the next year, analysts anticipate that the firm will post sales of $2.67 billion, with estimates ranging from $2.65 billion to $2.71 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Nomad Foods.

Nomad Foods (NYSE:NOMD) last posted its quarterly earnings results on Thursday, May 9th. The company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.09. The company had revenue of $617.80 million during the quarter, compared to the consensus estimate of $613.77 million. Nomad Foods had a return on equity of 9.84% and a net margin of 5.83%. The firm’s quarterly revenue was up 14.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.35 EPS.

Several research analysts have recently weighed in on the company. TheStreet downgraded Twin Disc from a “b-” rating to a “c+” rating in a research note on Tuesday, June 11th. Citigroup downgraded Barrick Gold to a “neutral” rating in a research note on Thursday, May 23rd. Goldman Sachs Group started coverage on Tricida in a research note on Wednesday, June 26th. They issued a “buy” rating and a $48.00 target price for the company. DA Davidson started coverage on Nomad Foods in a research note on Wednesday, June 19th. They issued a “buy” rating and a $26.00 target price for the company. Finally, ValuEngine downgraded Zumiez from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $24.17.

Shares of NOMD stock traded down $0.02 on Tuesday, hitting $22.73. 861,577 shares of the stock were exchanged, compared to its average volume of 806,431. The company has a quick ratio of 1.15, a current ratio of 1.54 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $4.42 billion, a price-to-earnings ratio of 16.12, a PEG ratio of 1.83 and a beta of 0.96. Nomad Foods has a one year low of $15.87 and a one year high of $22.97. The firm has a 50 day moving average price of $21.37.

A number of hedge funds and other institutional investors have recently modified their holdings of NOMD. Investors Research Corp bought a new stake in shares of Nomad Foods during the 1st quarter valued at about $41,000. Advisor Group Inc. boosted its position in shares of Nomad Foods by 87.1% during the 4th quarter. Advisor Group Inc. now owns 4,338 shares of the company’s stock valued at $72,000 after acquiring an additional 2,020 shares during the last quarter. Nkcfo LLC boosted its position in shares of Nomad Foods by 200.0% during the 1st quarter. Nkcfo LLC now owns 4,800 shares of the company’s stock valued at $98,000 after acquiring an additional 3,200 shares during the last quarter. Actinver Wealth Management Inc. bought a new stake in shares of Nomad Foods during the 4th quarter valued at about $161,000. Finally, HRT Financial LLC bought a new stake in shares of Nomad Foods during the 4th quarter valued at about $190,000. Institutional investors and hedge funds own 77.55% of the company’s stock.

About Nomad Foods

Nomad Foods Limited, together with its subsidiaries, produces, markets, and distributes frozen foods in the United Kingdom, Italy, Germany, Sweden, France, Norway, Austria, Spain, and rest of 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.

Further Reading: What are the benefits of buying treasury bonds?

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

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

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.