Q3 2022 Earnings Forecast for Nomad Foods Limited Issued By Jefferies Financial Group (NYSE:NOMD)

Nomad Foods Limited (NYSE:NOMDGet Rating) – Analysts at Jefferies Financial Group reduced their Q3 2022 EPS estimates for Nomad Foods in a research report issued to clients and investors on Thursday, September 15th. Jefferies Financial Group analyst R. Dickerson now anticipates that the company will post earnings per share of $0.45 for the quarter, down from their prior forecast of $0.47. The consensus estimate for Nomad Foods’ current full-year earnings is $1.77 per share. Jefferies Financial Group also issued estimates for Nomad Foods’ Q4 2022 earnings at $0.39 EPS, FY2022 earnings at $1.69 EPS, Q3 2023 earnings at $0.46 EPS, Q4 2023 earnings at $0.43 EPS, FY2023 earnings at $1.84 EPS and FY2024 earnings at $2.04 EPS.

Nomad Foods (NYSE:NOMDGet Rating) last issued its quarterly earnings results on Wednesday, August 10th. The company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.02. The business had revenue of $697.00 million for the quarter, compared to analysts’ expectations of $681.73 million. Nomad Foods had a net margin of 7.68% and a return on equity of 11.35%. The business’s quarterly revenue was up 16.9% on a year-over-year basis. During the same period last year, the business earned $0.48 earnings per share.

Other analysts have also issued research reports about the company. Mizuho dropped their price objective on Nomad Foods from $25.00 to $24.00 and set a “buy” rating for the company in a research note on Friday, September 2nd. Credit Suisse Group dropped their price objective on Nomad Foods to $25.00 in a research note on Monday, August 15th. Finally, StockNews.com lowered Nomad Foods from a “buy” rating to a “hold” rating in a research note on Friday, September 2nd. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $27.00.

Nomad Foods Stock Performance

NYSE:NOMD opened at $16.91 on Monday. The firm has a market cap of $2.92 billion, a PE ratio of 12.62 and a beta of 0.63. Nomad Foods has a fifty-two week low of $16.47 and a fifty-two week high of $28.92. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.60 and a current ratio of 1.07. The business has a 50 day moving average price of $18.26 and a 200-day moving average price of $19.66.

Hedge Funds Weigh In On Nomad Foods

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC lifted its position in Nomad Foods by 9.2% during the fourth quarter. SG Americas Securities LLC now owns 4,786 shares of the company’s stock valued at $122,000 after buying an additional 402 shares during the period. Eagle Asset Management Inc. increased its holdings in shares of Nomad Foods by 2.4% during the fourth quarter. Eagle Asset Management Inc. now owns 20,903 shares of the company’s stock valued at $529,000 after acquiring an additional 488 shares in the last quarter. Candriam S.C.A. increased its holdings in shares of Nomad Foods by 0.3% during the second quarter. Candriam S.C.A. now owns 205,531 shares of the company’s stock valued at $4,108,000 after acquiring an additional 590 shares in the last quarter. Banque Cantonale Vaudoise increased its holdings in shares of Nomad Foods by 8.1% during the first quarter. Banque Cantonale Vaudoise now owns 11,121 shares of the company’s stock valued at $251,000 after acquiring an additional 835 shares in the last quarter. Finally, Prospera Financial Services Inc bought a new position in shares of Nomad Foods during the first quarter valued at $27,000. Hedge funds and other institutional investors own 92.55% of the company’s stock.

About Nomad Foods

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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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