SunTrust Banks Brokers Boost Earnings Estimates for Nomad Foods Limited (NOMD)

Nomad Foods Limited (NYSE:NOMD) – SunTrust Banks lifted their FY2017 EPS estimates for shares of Nomad Foods in a report released on Tuesday. SunTrust Banks analyst W. Chappell now forecasts that the company will earn $1.17 per share for the year, up from their previous forecast of $1.13. SunTrust Banks currently has a “Buy” rating and a $20.00 price objective on the stock. SunTrust Banks also issued estimates for Nomad Foods’ Q1 2018 earnings at $0.37 EPS, Q2 2018 earnings at $0.33 EPS, Q3 2018 earnings at $0.31 EPS, FY2018 earnings at $1.37 EPS and FY2019 earnings at $1.46 EPS.

A number of other research analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of Nomad Foods from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 15th. ValuEngine raised shares of Nomad Foods from a “hold” rating to a “buy” rating in a research report on Thursday, November 16th. Finally, Berenberg Bank assumed coverage on Nomad Foods in a research note on Thursday, November 16th. They issued a “buy” rating and a $18.00 target price for the company. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $17.00.

Nomad Foods (NYSE:NOMD) traded down $0.13 during mid-day trading on Friday, reaching $16.43. The company had a trading volume of 1,191,000 shares, compared to its average volume of 962,189. The company has a market cap of $2,850.00 and a PE ratio of 17.13. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.09 and a quick ratio of 0.68. Nomad Foods has a fifty-two week low of $9.00 and a fifty-two week high of $16.90.

Large investors have recently made changes to their positions in the business. Capital Fund Management S.A. bought a new position in shares of Nomad Foods during the 2nd quarter valued at about $145,000. Empirical Finance LLC acquired a new position in Nomad Foods in the 3rd quarter valued at $152,000. Jane Street Group LLC acquired a new position in Nomad Foods in the 3rd quarter valued at $168,000. Balter Liquid Alternatives LLC acquired a new position in Nomad Foods in the 2nd quarter valued at $172,000. Finally, Stevens Capital Management LP bought a new stake in shares of Nomad Foods during the 3rd quarter valued at $174,000. Institutional investors and hedge funds own 72.83% of the company’s stock.

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Nomad Foods Company Profile

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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