Nomad Foods (NOMD) Updates FY18 Earnings Guidance

Nomad Foods (NYSE:NOMD) updated its FY18 earnings guidance on Thursday. The company provided earnings per share guidance of $1.08-1.13 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.16.

Several research firms have recently weighed in on NOMD. Zacks Investment Research upgraded shares of Nomad Foods from a hold rating to a buy rating and set a $18.00 target price for the company in a research note on Saturday, December 2nd. ValuEngine upgraded shares of Nomad Foods from a hold rating to a buy rating in a research report on Friday, February 2nd. Finally, SunTrust Banks raised their price objective on shares of Nomad Foods to $20.00 and gave the company a buy rating in a research report on Wednesday, November 29th. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and an average price target of $18.50.

Nomad Foods stock opened at $16.16 on Thursday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.03 and a quick ratio of 0.56. Nomad Foods has a 1 year low of $10.77 and a 1 year high of $17.32. The company has a market cap of $2,825.72, a P/E ratio of 23.76 and a beta of 0.49.

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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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