Wall Street brokerages expect that Nomad Foods Limited (NYSE:NOMD) will post sales of $581.26 million for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Nomad Foods’ earnings. The highest sales estimate is $582.21 million and the lowest is $580.30 million. Nomad Foods posted sales of $523.63 million during the same quarter last year, which would indicate a positive year over year growth rate of 11%. The business is expected to issue its next quarterly earnings report on Thursday, March 29th.

On average, analysts expect that Nomad Foods will report full year sales of $581.26 million for the current fiscal year, with estimates ranging from $2.26 billion to $2.29 billion. For the next financial year, analysts expect that the firm will report sales of $2.32 billion per share, with estimates ranging from $2.30 billion to $2.34 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for Nomad Foods.

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

A number of equities research analysts have weighed in on NOMD shares. SunTrust Banks lifted their price objective on Nomad Foods to $20.00 and gave the company a “buy” rating in a report on Wednesday, November 29th. Zacks Investment Research raised Nomad Foods from a “hold” rating to a “buy” rating and set a $18.00 price objective on the stock in a report on Saturday, December 2nd. ValuEngine raised Nomad Foods from a “hold” rating to a “buy” rating in a report on Thursday, November 16th. Finally, Berenberg Bank started coverage on Nomad Foods in a report on Thursday, November 16th. They set a “buy” rating and a $18.00 price objective on the stock. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $17.20.

A number of hedge funds have recently bought and sold shares of NOMD. Boston Partners raised its position in Nomad Foods by 63.3% in the 4th quarter. Boston Partners now owns 13,475,487 shares of the company’s stock worth $227,871,000 after purchasing an additional 5,222,559 shares during the last quarter. Brown Advisory Inc. bought a new position in Nomad Foods in the 3rd quarter worth approximately $60,398,000. Investec Asset Management LTD bought a new position in Nomad Foods in the 3rd quarter worth approximately $59,739,000. Scoggin Management LP bought a new position in Nomad Foods in the 3rd quarter worth approximately $18,213,000. Finally, Janus Henderson Group PLC raised its position in Nomad Foods by 45.5% in the 3rd quarter. Janus Henderson Group PLC now owns 3,960,204 shares of the company’s stock worth $57,700,000 after purchasing an additional 1,238,607 shares during the last quarter. Hedge funds and other institutional investors own 75.32% of the company’s stock.

Shares of Nomad Foods (NOMD) opened at $16.08 on Wednesday. Nomad Foods has a 1 year low of $10.40 and a 1 year high of $17.32. The firm has a market capitalization of $2,770.00 and a PE ratio of 16.53. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.56 and a current ratio of 1.03.

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Nomad Foods Company Profile

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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