Zacks: Brokerages Anticipate Nomad Foods Limited (NYSE:NOMD) to Announce $0.46 EPS

Wall Street analysts expect Nomad Foods Limited (NYSE:NOMDGet Rating) to announce $0.46 earnings per share for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Nomad Foods’ earnings, with the highest EPS estimate coming in at $0.47 and the lowest estimate coming in at $0.44. Nomad Foods reported earnings per share of $0.48 during the same quarter last year, which would suggest a negative year-over-year growth rate of 4.2%. The company is expected to announce its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Nomad Foods will report full-year earnings of $1.80 per share for the current fiscal year, with EPS estimates ranging from $1.78 to $1.81. For the next financial year, analysts forecast that the business will post earnings of $1.97 per share, with EPS estimates ranging from $1.96 to $1.97. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that follow Nomad Foods.

Nomad Foods (NYSE:NOMDGet Rating) last released its earnings results on Wednesday, May 11th. The company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.01. Nomad Foods had a net margin of 7.16% and a return on equity of 11.55%. During the same period last year, the business posted $0.56 earnings per share.

Several research analysts recently commented on NOMD shares. UBS Group initiated coverage on shares of Nomad Foods in a research note on Wednesday, March 30th. They set a “buy” rating and a $26.00 price objective for the company. StockNews.com began coverage on Nomad Foods in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Credit Suisse Group lowered their price objective on Nomad Foods from $29.00 to $26.00 and set an “outperform” rating for the company in a research report on Tuesday, April 12th. Deutsche Bank Aktiengesellschaft upped their price target on Nomad Foods from $25.00 to $26.00 in a research note on Thursday, May 12th. Finally, The Goldman Sachs Group dropped their price target on Nomad Foods from $29.00 to $26.00 and set a “neutral” rating for the company in a research report on Wednesday, March 16th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $27.44.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Wellington Management Group LLP lifted its holdings in shares of Nomad Foods by 10.7% in the 1st quarter. Wellington Management Group LLP now owns 15,574,393 shares of the company’s stock valued at $351,670,000 after acquiring an additional 1,501,225 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in Nomad Foods during the fourth quarter valued at approximately $251,341,000. Boston Partners boosted its stake in shares of Nomad Foods by 2.1% in the first quarter. Boston Partners now owns 7,057,024 shares of the company’s stock worth $159,201,000 after acquiring an additional 141,789 shares during the last quarter. Alliancebernstein L.P. lifted its position in Nomad Foods by 7.2% during the fourth quarter. Alliancebernstein L.P. now owns 6,672,664 shares of the company’s stock worth $169,419,000 after buying an additional 450,124 shares in the last quarter. Finally, Brown Advisory Inc. raised its position in Nomad Foods by 5.6% in the first quarter. Brown Advisory Inc. now owns 5,642,102 shares of the company’s stock valued at $129,120,000 after purchasing an additional 297,891 shares during the period. 78.08% of the stock is currently owned by hedge funds and other institutional investors.

NOMD stock traded down $0.32 during midday trading on Monday, hitting $20.04. The company’s stock had a trading volume of 4,482 shares, compared to its average volume of 827,327. Nomad Foods has a 12 month low of $17.30 and a 12 month high of $31.42. The firm has a market capitalization of $3.46 billion, a price-to-earnings ratio of 16.55 and a beta of 0.72. The company has a 50 day moving average of $20.54 and a two-hundred day moving average of $23.04. The company has a quick ratio of 0.57, a current ratio of 1.00 and a debt-to-equity ratio of 0.94.

Nomad Foods Company Profile (Get Rating)

Nomad Foods Limited manufactures, markets, and distributes frozen food products in the United Kingdom, Italy, Germany, France, Sweden, Austria, Norway, 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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