Brokerages forecast that Nomad Foods Limited (NYSE:NOMD) will report sales of $525.23 million for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Nomad Foods Limited’s earnings, with the highest sales estimate coming in at $529.00 million and the lowest estimate coming in at $521.46 million. Nomad Foods Limited reported sales of $490.33 million during the same quarter last year, which indicates a positive year-over-year growth rate of 7.1%. The company is expected to announce its next earnings results on Tuesday, December 5th.

On average, analysts expect that Nomad Foods Limited will report full year sales of $525.23 million for the current fiscal year, with estimates ranging from $2.27 billion to $2.28 billion. For the next year, analysts expect that the business will post sales of $2.30 billion per share, with estimates ranging from $2.29 billion to $2.31 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Nomad Foods Limited.

Nomad Foods Limited (NYSE:NOMD) last issued its quarterly earnings data on Friday, August 25th. The company reported $0.25 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.03. Nomad Foods Limited had a net margin of 3.56% and a return on equity of 7.93%. The firm had revenue of $458.10 million during the quarter, compared to analysts’ expectations of $459.51 million. During the same period in the prior year, the company posted $0.19 earnings per share. Nomad Foods Limited’s revenue for the quarter was up .5% on a year-over-year basis.

Several analysts recently commented on the stock. UBS AG reaffirmed a “buy” rating and set a $17.00 target price on shares of Nomad Foods Limited in a report on Tuesday, June 13th. Zacks Investment Research downgraded shares of Nomad Foods Limited from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 15th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $15.00.

Hedge funds have recently made changes to their positions in the stock. Legato Capital Management LLC bought a new stake in Nomad Foods Limited in the 2nd quarter valued at about $2,552,000. Russell Investments Group Ltd. boosted its holdings in Nomad Foods Limited by 61.2% in the 2nd quarter. Russell Investments Group Ltd. now owns 1,282,736 shares of the company’s stock valued at $18,097,000 after purchasing an additional 487,240 shares during the period. Victory Capital Management Inc. boosted its holdings in Nomad Foods Limited by 296.5% in the 2nd quarter. Victory Capital Management Inc. now owns 3,206,030 shares of the company’s stock valued at $45,237,000 after purchasing an additional 2,397,440 shares during the period. Laurion Capital Management LP bought a new stake in Nomad Foods Limited in the 2nd quarter valued at about $25,466,000. Finally, Pioneer Investment Management Inc. bought a new stake in Nomad Foods Limited in the 2nd quarter valued at about $12,215,000. 78.20% of the stock is owned by institutional investors and hedge funds.

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Shares of Nomad Foods Limited (NYSE NOMD) opened at 14.69 on Wednesday. The company has a market capitalization of $2.53 billion and a PE ratio of 32.57. Nomad Foods Limited has a 12-month low of $9.00 and a 12-month high of $15.49. The firm’s 50-day moving average is $14.91 and its 200-day moving average is $13.65.

About Nomad Foods Limited

Nomad Foods Limited manufactures and distributes frozen foods primarily in the United Kingdom, Italy, Germany, Sweden, France, and Norway. The company’s 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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