Nomad Foods (NOMD) Set to Announce Earnings on Thursday

Nomad Foods (NYSE:NOMD) is scheduled to be posting its quarterly earnings results before the market opens on Thursday, November 9th. Analysts expect Nomad Foods to post earnings of $0.41 per share for the quarter. Nomad Foods has set its FY23 guidance at €1.54-1.57 EPS.Individual that wish to listen to the company’s earnings conference call can do so using this link.

Nomad Foods (NYSE:NOMD) last released its quarterly earnings results on Wednesday, August 9th. The company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.02. Nomad Foods had a net margin of 6.88% and a return on equity of 11.21%. The company had revenue of $811.11 million during the quarter, compared to the consensus estimate of $815.57 million. On average, analysts expect Nomad Foods to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Nomad Foods Price Performance

NOMD stock opened at $13.90 on Thursday. Nomad Foods has a 1 year low of $13.56 and a 1 year high of $19.76. The company has a market cap of $2.42 billion, a P/E ratio of 11.12 and a beta of 0.76. The firm has a 50-day moving average of $15.58 and a 200 day moving average of $17.13. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.21 and a quick ratio of 0.70.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on NOMD. StockNews.com raised shares of Nomad Foods from a “hold” rating to a “buy” rating in a research note on Thursday, October 26th. Barclays decreased their target price on shares of Nomad Foods from $22.00 to $18.00 and set an “overweight” rating for the company in a research note on Thursday, October 12th. Finally, Citigroup decreased their target price on shares of Nomad Foods from $25.00 to $23.00 and set a “buy” rating for the company in a research note on Thursday, August 10th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Nomad Foods currently has an average rating of “Moderate Buy” and an average price target of $21.20.

Institutional Trading of Nomad Foods

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Northern Trust Corp raised its stake in Nomad Foods by 1.1% during the 2nd quarter. Northern Trust Corp now owns 86,064 shares of the company’s stock valued at $1,508,000 after purchasing an additional 969 shares during the period. Lazard Asset Management LLC raised its stake in Nomad Foods by 117.5% during the 4th quarter. Lazard Asset Management LLC now owns 1,897 shares of the company’s stock valued at $32,000 after purchasing an additional 1,025 shares during the period. Geode Capital Management LLC raised its stake in Nomad Foods by 6.1% during the 1st quarter. Geode Capital Management LLC now owns 21,849 shares of the company’s stock valued at $409,000 after purchasing an additional 1,248 shares during the period. State of Wyoming raised its stake in Nomad Foods by 18.0% during the 4th quarter. State of Wyoming now owns 9,221 shares of the company’s stock valued at $159,000 after purchasing an additional 1,404 shares during the period. Finally, Vanguard Group Inc. raised its stake in Nomad Foods by 1.3% during the 3rd quarter. Vanguard Group Inc. now owns 114,689 shares of the company’s stock valued at $1,629,000 after purchasing an additional 1,456 shares during the period. Hedge funds and other institutional investors own 74.44% of the company’s stock.

About Nomad Foods

Nomad Foods Limited manufactures, markets, and distributes a range of frozen food products in the United Kingdom, Italy, Germany, France, Sweden, Austria, Norway, Spain, Serbia, Croatia, Switzerland, and rest of Europe. The company offers frozen fish products, including fish fingers, coated fish, and natural fish; ready to cook vegetable products, such as peas and spinach; and frozen poultry and meat products comprising nuggets, grills, and burgers.