Nomad Foods Ltd (NOMD) Expected to Announce Earnings of $0.39 Per Share

Analysts expect that Nomad Foods Ltd (NYSE:NOMD) will post $0.39 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Nomad Foods’ earnings, with the lowest EPS estimate coming in at $0.38 and the highest estimate coming in at $0.40. Nomad Foods posted earnings of $0.43 per share during the same quarter last year, which would indicate a negative year over year growth rate of 9.3%. The company is scheduled to announce its next quarterly earnings results on Thursday, May 9th.

According to Zacks, analysts expect that Nomad Foods will report full year earnings of $1.45 per share for the current year, with EPS estimates ranging from $1.38 to $1.49. For the next year, analysts anticipate that the company will post earnings of $1.58 per share, with EPS estimates ranging from $1.47 to $1.66. Zacks’ EPS calculations are a mean average based on a survey of sell-side research analysts that cover Nomad Foods.

Nomad Foods (NYSE:NOMD) last posted its earnings results on Thursday, February 28th. The company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.01). The company had revenue of $701.58 million during the quarter, compared to the consensus estimate of $673.67 million. Nomad Foods had a net margin of 7.93% and a return on equity of 10.02%.

NOMD has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded shares of Nomad Foods from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a research note on Tuesday, January 22nd. UBS Group set a $25.00 price objective on shares of Nomad Foods and gave the company a “buy” rating in a research note on Friday, March 1st. Finally, TheStreet upgraded shares of Nomad Foods from a “c” rating to a “b” rating in a research note on Friday, March 29th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the stock. Nomad Foods has an average rating of “Buy” and an average price target of $23.50.

Shares of NYSE NOMD traded up $0.04 during midday trading on Friday, reaching $20.40. 826,619 shares of the company traded hands, compared to its average volume of 1,109,069. Nomad Foods has a 52 week low of $15.87 and a 52 week high of $21.81. The company has a quick ratio of 0.71, a current ratio of 1.12 and a debt-to-equity ratio of 0.85. The stock has a market cap of $3.97 billion, a P/E ratio of 14.47, a P/E/G ratio of 1.41 and a beta of 1.30.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Samlyn Capital LLC acquired a new position in Nomad Foods during the fourth quarter worth about $60,166,000. Norges Bank acquired a new position in Nomad Foods during the fourth quarter worth about $27,591,000. Putnam Investments LLC grew its holdings in Nomad Foods by 45.3% during the third quarter. Putnam Investments LLC now owns 2,837,349 shares of the company’s stock worth $57,485,000 after acquiring an additional 884,258 shares during the period. Sycomore Asset Management acquired a new position in Nomad Foods during the fourth quarter worth about $13,564,000. Finally, American Century Companies Inc. acquired a new position in Nomad Foods during the fourth quarter worth about $10,920,000. Institutional investors and hedge funds own 68.96% 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.

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

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