Analysts Set $17.00 Price Target for Nomad Foods Limited (NOMD)
Nomad Foods Limited (NYSE:NOMD) has been given a consensus broker rating score of 1.00 (Strong Buy) from the one brokers that provide coverage for the company, Zacks Investment Research reports. One investment analyst has rated the stock with a strong buy rating.
Brokers have set a 12 month consensus price target of $17.00 for the company and are forecasting that the company will post $0.21 earnings per share for the current quarter, according to Zacks. Zacks has also given Nomad Foods Limited an industry rank of 188 out of 265 based on the ratings given to its competitors.
A number of research firms have issued reports on NOMD. 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. Zacks Investment Research upgraded Nomad Foods Limited from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a research report on Wednesday, June 7th. Finally, ValuEngine cut Nomad Foods Limited from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd.
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Large investors have recently added to or reduced their stakes in the company. Legato Capital Management LLC bought a new stake in shares of Nomad Foods Limited during the second quarter worth about $2,552,000. Russell Investments Group Ltd. grew its holdings in shares of Nomad Foods Limited by 61.2% during the second quarter. Russell Investments Group Ltd. now owns 1,282,736 shares of the company’s stock worth $18,097,000 after purchasing an additional 487,240 shares during the last quarter. Pioneer Investment Management Inc. bought a new stake in shares of Nomad Foods Limited during the second quarter worth about $12,215,000. First Manhattan Co. bought a new stake in shares of Nomad Foods Limited during the second quarter worth about $7,475,000. Finally, Suffolk Capital Management LLC grew its holdings in shares of Nomad Foods Limited by 190.2% during the second quarter. Suffolk Capital Management LLC now owns 121,409 shares of the company’s stock worth $1,713,000 after purchasing an additional 79,578 shares during the last quarter. Institutional investors own 77.79% of the company’s stock.
Shares of Nomad Foods Limited (NOMD) opened at 15.10 on Friday. The company has a market cap of $2.60 billion and a price-to-earnings ratio of 34.32. The stock has a 50 day moving average of $14.62 and a 200 day moving average of $12.99. Nomad Foods Limited has a 12-month low of $9.00 and a 12-month high of $15.37.
Nomad Foods Limited (NYSE:NOMD) last posted its quarterly earnings results on Friday, August 25th. The company reported $0.25 EPS for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.03. The business had revenue of $458.10 million during the quarter, compared to the consensus estimate of $459.51 million. Nomad Foods Limited had a return on equity of 7.93% and a net margin of 3.56%. Nomad Foods Limited’s revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.19 earnings per share. On average, equities analysts expect that Nomad Foods Limited will post $1.07 earnings per share for the current fiscal year.
Nomad Foods Limited declared that its board has initiated a share buyback plan on Monday, June 12th that allows the company to repurchase $105.10 million in outstanding shares. This repurchase authorization allows the company to reacquire shares of its stock through a private placement purchase. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.
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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