$581.26 Million in Sales Expected for Nomad Foods Limited (NOMD) This Quarter

Wall Street brokerages expect Nomad Foods Limited (NYSE:NOMD) to report $581.26 million in sales for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Nomad Foods’ earnings. The lowest sales estimate is $580.30 million and the highest is $582.21 million. Nomad Foods reported sales of $523.63 million in the same quarter last year, which would suggest a positive year over year growth rate of 11%. The business is scheduled to report its next earnings results on Thursday, March 29th.

According to Zacks, analysts expect that Nomad Foods will report full-year sales of $581.26 million for the current year, with estimates ranging from $2.26 billion to $2.29 billion. For the next year, analysts forecast that the firm will post sales of $2.32 billion per share, with estimates ranging from $2.30 billion to $2.34 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that that provide coverage for Nomad Foods.

Nomad Foods (NYSE:NOMD) last announced its earnings results on Tuesday, November 28th. The company reported $0.29 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.06. Nomad Foods had a return on equity of 8.08% and a net margin of 5.60%.

Several research analysts have recently weighed in on the company. ValuEngine raised Nomad Foods from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Zacks Investment Research downgraded Nomad Foods from a “buy” rating to a “hold” rating in a research note on Wednesday, January 31st. SunTrust Banks upped their target price on Nomad Foods to $20.00 and gave the stock a “buy” rating in a research note on Wednesday, November 29th. Finally, Berenberg Bank assumed coverage on Nomad Foods in a research note on Thursday, November 16th. They set a “buy” rating and a $18.00 target price for the company. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $17.20.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. C M Bidwell & Associates Ltd. acquired a new position in Nomad Foods in the 4th quarter valued at $112,000. 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. Claraphi Advisory Network LLC acquired a new position in Nomad Foods in the 4th quarter valued at $171,000. Finally, Stevens Capital Management LP acquired a new position in Nomad Foods in the 3rd quarter valued at $174,000. 75.32% of the stock is owned by hedge funds and other institutional investors.

Nomad Foods (NOMD) opened at $16.08 on Wednesday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.56 and a current ratio of 1.03. The firm has a market capitalization of $2,770.00 and a P/E ratio of 16.53. Nomad Foods has a 52 week low of $10.40 and a 52 week high of $17.32.

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About Nomad Foods

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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