Nomad Foods (NOMD) Updates FY 2018 Earnings Guidance

Nomad Foods (NYSE:NOMD) issued an update on its FY 2018 earnings guidance on Thursday morning. The company provided earnings per share guidance of $1.30-1.33 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.33. Nomad Foods also updated its FY18 guidance to 1.14-1.17 EPS.

NYSE NOMD traded down $0.18 during midday trading on Friday, hitting $20.32. The company had a trading volume of 83,284 shares, compared to its average volume of 1,203,157. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.36 and a quick ratio of 0.90. The firm has a market capitalization of $3.30 billion, a price-to-earnings ratio of 17.97, a P/E/G ratio of 0.98 and a beta of 0.89. Nomad Foods has a fifty-two week low of $14.32 and a fifty-two week high of $21.45.

Nomad Foods (NYSE:NOMD) last posted its quarterly earnings results on Thursday, November 8th. The company reported $0.26 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.26. The company had revenue of $531.00 million for the quarter, compared to analyst estimates of $514.37 million. Nomad Foods had a net margin of 8.19% and a return on equity of 10.44%. The business’s quarterly revenue was up 15.7% on a year-over-year basis. During the same period last year, the business posted $0.22 EPS. As a group, sell-side analysts expect that Nomad Foods will post 1.35 earnings per share for the current fiscal year.

Several analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Nomad Foods from a sell rating to a hold rating in a research report on Tuesday, July 17th. Credit Suisse Group assumed coverage on shares of Nomad Foods in a research report on Tuesday, July 17th. They set an outperform rating and a $24.00 target price on the stock. Wells Fargo & Co lifted their target price on shares of Nomad Foods from $23.00 to $25.00 and gave the company a buy rating in a research report on Friday, August 10th. UBS Group lifted their target price on shares of Nomad Foods from $21.00 to $23.00 and gave the company a buy rating in a research report on Friday, August 10th. Finally, Barclays assumed coverage on shares of Nomad Foods in a research report on Friday, October 5th. They set an overweight rating on the stock. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company’s stock. Nomad Foods currently has an average rating of Buy and a consensus price target of $22.17.

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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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