Nomad Foods (NOMD) Announces Quarterly Earnings Results, Beats Estimates By $0.09 EPS

Nomad Foods (NYSE:NOMD) issued its quarterly earnings data on Thursday. The company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.09, Morningstar.com reports. The firm had revenue of $617.80 million during the quarter, compared to analysts’ expectations of $613.77 million. Nomad Foods had a return on equity of 10.27% and a net margin of 5.83%. Nomad Foods’s revenue was up 14.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.35 earnings per share. Nomad Foods updated its FY 2019 guidance to $1.32-1.37 EPS and its FY19 guidance to EUR 1.18-1.21 EPS.

Nomad Foods stock traded up $0.26 during mid-day trading on Friday, hitting $21.63. 1,016,619 shares of the company were exchanged, compared to its average volume of 1,005,649. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.71 and a current ratio of 1.12. The company has a market capitalization of $4.16 billion, a price-to-earnings ratio of 15.34, a PEG ratio of 1.59 and a beta of 1.26. Nomad Foods has a 12-month low of $15.87 and a 12-month high of $21.81.

Institutional investors have recently added to or reduced their stakes in the business. US Bancorp DE grew its position in shares of Nomad Foods by 11.4% in the first quarter. US Bancorp DE now owns 4,808 shares of the company’s stock valued at $98,000 after purchasing an additional 493 shares during the period. Legal & General Group Plc grew its position in shares of Nomad Foods by 0.9% in the fourth quarter. Legal & General Group Plc now owns 64,746 shares of the company’s stock valued at $1,083,000 after purchasing an additional 577 shares during the period. Advisor Group Inc. grew its position in shares of Nomad Foods by 14.2% in the first quarter. Advisor Group Inc. now owns 4,952 shares of the company’s stock valued at $101,000 after purchasing an additional 614 shares during the period. Mckinley Capital Management LLC Delaware grew its position in shares of Nomad Foods by 1.8% in the fourth quarter. Mckinley Capital Management LLC Delaware now owns 51,302 shares of the company’s stock valued at $857,000 after purchasing an additional 901 shares during the period. Finally, Oppenheimer Asset Management Inc. grew its position in shares of Nomad Foods by 6.3% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 19,999 shares of the company’s stock valued at $334,000 after purchasing an additional 1,178 shares during the period. 68.68% of the stock is owned by institutional investors.

NOMD has been the subject of several research reports. Zacks Investment Research raised Nomad Foods from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a report on Tuesday, January 22nd. UBS Group set a $25.00 price objective on Nomad Foods and gave the stock a “buy” rating in a report on Friday, March 1st. Finally, TheStreet raised Nomad Foods from a “c” rating to a “b” rating in a report on Friday, March 29th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $23.50.

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Nomad Foods Company Profile

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 for Nomad Foods (NYSE:NOMD)

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