Wall Street analysts predict that Nomad Foods Ltd (NYSE:NOMD) will report sales of $709.22 million for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Nomad Foods’ earnings. The highest sales estimate is $718.34 million and the lowest is $701.32 million. Nomad Foods reported sales of $662.50 million during the same quarter last year, which indicates a positive year-over-year growth rate of 7.1%. The firm is scheduled to issue its next earnings report before the market opens on Thursday, May 9th.

According to Zacks, analysts expect that Nomad Foods will report full year sales of $2.65 billion for the current year, with estimates ranging from $2.63 billion to $2.65 billion. For the next year, analysts anticipate that the company will report sales of $2.71 billion, with estimates ranging from $2.69 billion to $2.72 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that follow Nomad Foods.

Nomad Foods (NYSE:NOMD) last announced its quarterly earnings data on Thursday, February 28th. The company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.01). The business had revenue of $701.58 million during the quarter, compared to analyst estimates of $673.67 million. Nomad Foods had a net margin of 7.93% and a return on equity of 10.02%.

A number of research analysts have recently issued reports on the company. Zacks Investment Research downgraded Nomad Foods from a “buy” rating to a “hold” rating in a research note on Wednesday, March 6th. UBS Group set a $25.00 price objective on Nomad Foods and gave the company a “buy” rating in a research note on Friday, March 1st. Finally, TheStreet raised Nomad Foods from a “c” rating to a “b” rating in a research note on Friday, March 29th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $23.50.

Shares of NYSE:NOMD remained flat at $$20.90 during midday trading on Tuesday. The stock had a trading volume of 934,343 shares, compared to its average volume of 1,159,891. The firm has a market cap of $4.05 billion, a P/E ratio of 14.82, a price-to-earnings-growth ratio of 1.41 and a beta of 1.30. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.12 and a quick ratio of 0.71. Nomad Foods has a 12 month low of $15.87 and a 12 month high of $21.81.

Institutional investors have recently modified their holdings of the stock. Brinker Capital Inc. purchased a new position in Nomad Foods in the first quarter valued at approximately $475,000. Investors Research Corp purchased a new position in Nomad Foods in the first quarter valued at approximately $41,000. Nkcfo LLC lifted its stake in Nomad Foods by 200.0% in the first quarter. Nkcfo LLC now owns 4,800 shares of the company’s stock valued at $98,000 after purchasing an additional 3,200 shares during the last quarter. Raymond James Trust N.A. lifted its stake in Nomad Foods by 17.0% in the first quarter. Raymond James Trust N.A. now owns 14,023 shares of the company’s stock valued at $286,000 after purchasing an additional 2,042 shares during the last quarter. Finally, Virtu Financial LLC purchased a new stake in shares of Nomad Foods during the first quarter worth $443,000. 68.96% of the stock is owned by institutional investors and hedge funds.

Nomad Foods Company Profile

Nomad Foods Limited, together with its subsidiaries, produces, markets, and distributes frozen foods in the United Kingdom, Italy, Germany, Sweden, France, Norway, Austria, Spain, and rest of 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.

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

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