Nomad Foods (NYSE:NOMD) announced its earnings results on Thursday. The company reported $0.32 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.01, Morningstar.com reports. Nomad Foods had a net margin of 6.96% and a return on equity of 9.44%. The firm had revenue of $508.20 million for the quarter, compared to analyst estimates of $503.84 million. During the same quarter in the prior year, the business posted $0.13 EPS. The business’s revenue was up 4.7% compared to the same quarter last year. Nomad Foods updated its FY18 guidance to $1.08-1.13 EPS.
Shares of NOMD stock opened at $15.99 on Friday. Nomad Foods has a twelve month low of $10.77 and a twelve month high of $17.32. The company has a current ratio of 1.03, a quick ratio of 0.56 and a debt-to-equity ratio of 0.77. The firm has a market cap of $2,764.82, a P/E ratio of 14.06 and a beta of 0.49.
NOMD has been the topic of a number of analyst reports. Zacks Investment Research upgraded shares of Nomad Foods from a “hold” rating to a “buy” rating and set a $18.00 target price on the stock in a research report on Saturday, December 2nd. ValuEngine upgraded shares of Nomad Foods from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Finally, SunTrust Banks increased their target price on shares of Nomad Foods to $20.00 and gave the stock a “buy” rating in a research report on Wednesday, November 29th. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $18.50.
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About Nomad Foods
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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