Nomad Foods (NYSE:NOMD) Issues Earnings Results

Nomad Foods (NYSE:NOMD) issued its quarterly earnings results on Thursday. The company reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.05, Morningstar.com reports. Nomad Foods had a return on equity of 9.88% and a net margin of 6.35%. The firm had revenue of $537.80 million for the quarter, compared to analyst estimates of $534.87 million. During the same period last year, the company earned $0.28 EPS. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. Nomad Foods updated its FY 2019 guidance to $1.32-1.37 EPS and its FY19 guidance to EUR 1.18-1.22 EPS.

Shares of NYSE NOMD traded down $0.76 during midday trading on Friday, hitting $21.29. The stock had a trading volume of 831,876 shares, compared to its average volume of 921,367. The company has a market cap of $4.29 billion, a P/E ratio of 15.10, a price-to-earnings-growth ratio of 1.80 and a beta of 0.96. Nomad Foods has a 1-year low of $15.87 and a 1-year high of $23.06. 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 business has a fifty day moving average of $21.98.

A number of analysts have issued reports on the company. ValuEngine lowered Nomad Foods from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Citigroup assumed coverage on Nomad Foods in a research note on Thursday, May 23rd. They issued a “neutral” rating and a $24.00 price target on the stock. DA Davidson assumed coverage on Nomad Foods in a research note on Wednesday, June 19th. They issued a “buy” rating and a $26.00 price target on the stock. Goldman Sachs Group assumed coverage on Nomad Foods in a research note on Wednesday, June 26th. They issued a “buy” rating and a $25.00 price target on the stock. Finally, TheStreet lowered Nomad Foods from a “b-” rating to a “c+” rating in a research note on Tuesday, June 11th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $24.00.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wells Fargo & Company MN lifted its stake in shares of Nomad Foods by 11.2% in the 1st quarter. Wells Fargo & Company MN now owns 3,988,190 shares of the company’s stock valued at $81,558,000 after purchasing an additional 401,486 shares in the last quarter. Investec Asset Management LTD lifted its stake in shares of Nomad Foods by 14.8% in the 2nd quarter. Investec Asset Management LTD now owns 7,313,011 shares of the company’s stock valued at $156,206,000 after purchasing an additional 943,564 shares in the last quarter. Marshall Wace LLP lifted its stake in shares of Nomad Foods by 592.0% in the 1st quarter. Marshall Wace LLP now owns 1,007,633 shares of the company’s stock valued at $20,606,000 after purchasing an additional 862,031 shares in the last quarter. AlphaCrest Capital Management LLC lifted its stake in shares of Nomad Foods by 142.3% in the 1st quarter. AlphaCrest Capital Management LLC now owns 31,500 shares of the company’s stock valued at $644,000 after purchasing an additional 18,500 shares in the last quarter. Finally, American Century Companies Inc. acquired a new position in shares of Nomad Foods in the 4th quarter valued at about $10,920,000. 77.28% of the stock is currently owned by institutional investors and hedge funds.

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 for Nomad Foods (NYSE:NOMD)

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