Brokerages Expect Nomad Foods Limited (NOMD) to Announce $0.29 Earnings Per Share

Analysts expect Nomad Foods Limited (NYSE:NOMD) to post $0.29 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Nomad Foods’ earnings. Nomad Foods reported earnings per share of $0.25 during the same quarter last year, which would indicate a positive year-over-year growth rate of 16%. The company is scheduled to announce its next quarterly earnings results on Thursday, August 23rd.

On average, analysts expect that Nomad Foods will report full year earnings of $1.36 per share for the current fiscal year, with EPS estimates ranging from $1.33 to $1.38. For the next fiscal year, analysts anticipate that the firm will report earnings of $1.48 per share, with EPS estimates ranging from $1.44 to $1.53. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Nomad Foods.

Nomad Foods (NYSE:NOMD) last released its quarterly earnings results on Thursday, May 10th. The company reported $0.35 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.38 by ($0.03). The firm had revenue of $539.22 million for the quarter, compared to the consensus estimate of $536.39 million. Nomad Foods had a net margin of 7.78% and a return on equity of 10.42%. The company’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.25 earnings per share.

A number of research analysts recently issued reports on the company. Zacks Investment Research downgraded Nomad Foods from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 16th. ValuEngine upgraded Nomad Foods from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $18.50.

Several large investors have recently made changes to their positions in NOMD. Schwab Charles Investment Management Inc. grew its stake in shares of Nomad Foods by 105.4% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 42,814 shares of the company’s stock valued at $624,000 after acquiring an additional 21,970 shares during the period. Atria Investments LLC grew its stake in shares of Nomad Foods by 55.4% during the 4th quarter. Atria Investments LLC now owns 16,395 shares of the company’s stock valued at $277,000 after acquiring an additional 5,844 shares during the period. Harbour Capital Advisors LLC bought a new position in shares of Nomad Foods during the 4th quarter valued at approximately $283,000. Parametrica Management Ltd purchased a new position in Nomad Foods in the 4th quarter worth approximately $491,000. Finally, Victory Capital Management Inc. lifted its holdings in Nomad Foods by 15.5% in the 4th quarter. Victory Capital Management Inc. now owns 3,913,555 shares of the company’s stock worth $66,178,000 after purchasing an additional 525,795 shares in the last quarter. Institutional investors own 76.08% of the company’s stock.

Shares of Nomad Foods traded down $0.02, reaching $17.83, during trading hours on Friday, Marketbeat reports. 529,425 shares of the stock traded hands, compared to its average volume of 1,223,184. The company has a market cap of $3.05 billion, a P/E ratio of 15.78 and a beta of 0.76. The company has a quick ratio of 0.90, a current ratio of 1.30 and a debt-to-equity ratio of 0.77. Nomad Foods has a one year low of $13.54 and a one year high of $18.11.

Nomad Foods Company Profile

Nomad Foods Limited manufactures and distributes frozen foods in Western Europe. The company offers fish products, including fish fingers, coated fish, and natural fish; vegetables, such as peas and spinach; and poultry and meat products comprising nuggets, grills, and burgers. It also provides meals products that include ready to cook noodles, pasta, lasagne, pancakes, and other ready-made meals; and other products, such as soups, pizzas, and bakery goods.

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Earnings History and Estimates for Nomad Foods (NYSE:NOMD)

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