Nomad Foods (NYSE:NOMD) Issues FY 2021 Earnings Guidance

Nomad Foods (NYSE:NOMD) issued an update on its FY 2021 earnings guidance on Thursday morning. The company provided EPS guidance of $1.810-$1.867 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.820. The company issued revenue guidance of -.

Shares of NYSE NOMD traded down $0.05 during trading on Thursday, reaching $27.89. 1,076 shares of the company traded hands, compared to its average volume of 748,558. The firm has a 50 day simple moving average of $27.30 and a 200-day simple moving average of $28.26. Nomad Foods has a 52-week low of $22.44 and a 52-week high of $31.85. The company has a quick ratio of 1.04, a current ratio of 1.40 and a debt-to-equity ratio of 0.94. The stock has a market capitalization of $4.80 billion, a PE ratio of 19.96 and a beta of 0.71.

Nomad Foods (NYSE:NOMD) last issued its quarterly earnings data on Thursday, August 5th. The company reported $0.40 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.02. Nomad Foods had a net margin of 8.49% and a return on equity of 13.01%. The firm had revenue of $596.00 million for the quarter, compared to analysts’ expectations of $594.65 million. During the same quarter in the prior year, the business earned $0.34 EPS. The business’s quarterly revenue was down .5% on a year-over-year basis. As a group, research analysts predict that Nomad Foods will post 1.83 EPS for the current year.

Several equities analysts have recently weighed in on the stock. Citigroup assumed coverage on shares of Nomad Foods in a research note on Wednesday, October 6th. They issued a buy rating and a $34.00 price objective on the stock. BTIG Research reiterated a buy rating and issued a $35.00 price objective on shares of Nomad Foods in a research note on Friday, August 6th. Zacks Investment Research cut shares of Nomad Foods from a hold rating to a sell rating in a research note on Wednesday, October 6th. Finally, Jefferies Financial Group restated a buy rating on shares of Nomad Foods in a research note on Monday, September 13th. One equities research analyst has rated the stock with a sell rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Nomad Foods has a consensus rating of Buy and a consensus price target of $32.57.

An institutional investor recently raised its position in Nomad Foods stock. Morgan Stanley raised its stake in shares of Nomad Foods Limited (NYSE:NOMD) by 13.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 125,453 shares of the company’s stock after buying an additional 15,218 shares during the quarter. Morgan Stanley owned about 0.07% of Nomad Foods worth $3,547,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 76.96% of the stock is owned by institutional investors.

Nomad Foods Company Profile

Nomad Foods Ltd. operates as a holding company, which manufactures and sells frozen foods for human consumption. It offers its products under the brands LUTOSA, la Cocinera, Birds Eye, Iglo, and Findus. The company was founded by Noam Gottesman and Sir Martin E. Franklin in April 2014 and is headquartered in Middlesex, the United Kingdom.

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

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