Nomad Foods Limited (NOMD) Releases Quarterly Earnings Results, Beats Estimates By $0.03 EPS
Nomad Foods Limited (NYSE:NOMD) released its quarterly earnings results on Thursday. The company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.22 by $0.03, Morningstar.com reports. The business had revenue of $458.10 million during the quarter, compared to analyst estimates of $459.51 million. Nomad Foods Limited had a net margin of 2.13% and a return on equity of 7.56%. The company’s quarterly revenue was up .5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.19 earnings per share.
Nomad Foods Limited (NYSE:NOMD) opened at 14.85 on Friday. Nomad Foods Limited has a 12 month low of $9.00 and a 12 month high of $15.37. The company has a market cap of $2.70 billion and a price-to-earnings ratio of 55.00. The company has a 50-day moving average of $14.37 and a 200-day moving average of $12.69.
Nomad Foods Limited declared that its Board of Directors has initiated a share buyback plan on Monday, June 12th that authorizes the company to repurchase $105.10 million in shares. This repurchase authorization authorizes the company to reacquire shares of its stock through a private placement purchase. Stock repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.
A number of equities analysts recently issued reports on NOMD shares. Zacks Investment Research lowered shares of Nomad Foods Limited from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 15th. UBS AG reiterated a “buy” rating and issued a $17.00 target price on shares of Nomad Foods Limited in a research report on Tuesday, June 13th. Finally, ValuEngine lowered shares of Nomad Foods Limited from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $15.25.
Several institutional investors have recently modified their holdings of NOMD. Capital Fund Management S.A. bought a new position in shares of Nomad Foods Limited during the second quarter worth about $145,000. Balter Liquid Alternatives LLC bought a new position in shares of Nomad Foods Limited during the second quarter worth about $172,000. Pacad Investment Ltd. increased its position in shares of Nomad Foods Limited by 16.1% in the second quarter. Pacad Investment Ltd. now owns 14,100 shares of the company’s stock worth $199,000 after buying an additional 1,959 shares during the period. Trexquant Investment LP bought a new position in shares of Nomad Foods Limited during the second quarter worth about $208,000. Finally, Oppenheimer Asset Management Inc. increased its position in shares of Nomad Foods Limited by 133.1% in the second quarter. Oppenheimer Asset Management Inc. now owns 19,119 shares of the company’s stock worth $269,000 after buying an additional 10,917 shares during the period. Institutional investors own 84.36% of the company’s stock.
Nomad Foods Limited Company Profile
Nomad Foods Limited manufactures and distributes frozen foods primarily in the United Kingdom, Italy, Germany, Sweden, France, and Norway. The companys frozen food products include fish, vegetables, poultry products, and ready meals. It sells its products directly or through distribution arrangements to supermarkets and large food retail chains under the Birdseye, Findus, and Iglo brands.
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