Nomad Foods (NOMD) Releases Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Nomad Foods (NYSE:NOMD) released its earnings results on Thursday. The company reported $0.27 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.01, Morningstar.com reports. Nomad Foods had a net margin of 8.19% and a return on equity of 10.44%. The business had revenue of $531.00 million for the quarter, compared to analysts’ expectations of $514.37 million. During the same period last year, the company earned $0.22 earnings per share. The company’s quarterly revenue was up 15.7% on a year-over-year basis. Nomad Foods updated its FY 2018 guidance to $1.30-1.33 EPS and its FY18 guidance to 1.14-1.17 EPS.

Shares of NYSE NOMD traded up $0.01 during trading on Friday, reaching $20.51. 1,245,927 shares of the stock were exchanged, compared to its average volume of 1,126,559. Nomad Foods has a twelve month low of $14.32 and a twelve month high of $21.45. The company has a current ratio of 1.36, a quick ratio of 0.90 and a debt-to-equity ratio of 0.90. The stock has a market cap of $3.30 billion, a P/E ratio of 18.15, a PEG ratio of 0.98 and a beta of 0.89.

Several hedge funds and other institutional investors have recently bought and sold shares of NOMD. FMR LLC lifted its position in shares of Nomad Foods by 17.2% during the second quarter. FMR LLC now owns 14,483,492 shares of the company’s stock worth $277,938,000 after purchasing an additional 2,125,506 shares in the last quarter. Acadian Asset Management LLC increased its stake in shares of Nomad Foods by 104.2% in the third quarter. Acadian Asset Management LLC now owns 2,621,350 shares of the company’s stock worth $53,110,000 after buying an additional 1,337,718 shares during the last quarter. Platinum Investment Management Ltd. bought a new stake in shares of Nomad Foods in the second quarter worth $16,532,000. Allianz Asset Management GmbH increased its stake in shares of Nomad Foods by 99.8% in the first quarter. Allianz Asset Management GmbH now owns 1,405,996 shares of the company’s stock worth $22,130,000 after buying an additional 702,397 shares during the last quarter. Finally, Investec Asset Management LTD increased its stake in shares of Nomad Foods by 11.9% in the second quarter. Investec Asset Management LTD now owns 6,437,533 shares of the company’s stock worth $123,536,000 after buying an additional 682,974 shares during the last quarter. 73.16% of the stock is currently owned by institutional investors and hedge funds.

NOMD has been the topic of a number of recent research reports. TheStreet raised shares of Nomad Foods from a “d” rating to a “c” rating in a research report on Tuesday, October 16th. Zacks Investment Research raised shares of Nomad Foods from a “hold” rating to a “buy” rating and set a $23.00 target price on the stock in a research report on Wednesday, August 29th. Credit Suisse Group initiated 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. UBS Group boosted their target price on shares of Nomad Foods from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Friday, August 10th. Finally, Wells Fargo & Co boosted their target price on shares of Nomad Foods from $23.00 to $25.00 and gave the stock a “buy” rating in a research report on Friday, August 10th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $22.17.

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Nomad Foods Company Profile

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.

Further Reading: Market Capitalization in the Stock Market

Earnings History for Nomad Foods (NYSE:NOMD)

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