Nomad Foods (NYSE:NOMD) Releases FY19 Earnings Guidance

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Nomad Foods (NYSE:NOMD) updated its FY19 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of EUR 1.18-1.22 for the period, compared to the Thomson Reuters consensus estimate of $1.23. Nomad Foods also updated its FY 2019 guidance to $1.32-1.37 EPS.

Several research analysts recently weighed in on the stock. Citigroup assumed coverage on shares of Nomad Foods in a research report on Thursday, May 23rd. They issued a neutral rating and a $24.00 price objective on the stock. Goldman Sachs Group assumed coverage on shares of Nomad Foods in a research report on Wednesday, June 26th. They issued a buy rating and a $25.00 price objective on the stock. Zacks Investment Research upgraded shares of Nomad Foods from a sell rating to a hold rating in a research report on Wednesday, July 10th. TheStreet cut shares of Nomad Foods from a b- rating to a c+ rating in a research report on Tuesday, June 11th. Finally, DA Davidson assumed coverage on shares of Nomad Foods in a research report on Wednesday, June 19th. They set a buy rating and a $26.00 price target on the stock. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus price target of $24.17.

Shares of NYSE NOMD opened at $21.94 on Thursday. Nomad Foods has a one year low of $15.87 and a one year high of $23.06. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.54 and a quick ratio of 1.15. The company’s 50 day simple moving average is $21.92. The company has a market capitalization of $4.21 billion, a PE ratio of 15.56, a P/E/G ratio of 1.75 and a beta of 0.96.

Nomad Foods (NYSE:NOMD) last issued its quarterly earnings results on Thursday, May 9th. The company reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.09. Nomad Foods had a net margin of 5.83% and a return on equity of 9.84%. The business had revenue of $617.80 million for the quarter, compared to analysts’ expectations of $613.77 million. During the same period last year, the business earned $0.35 earnings per share. The business’s quarterly revenue was up 14.6% on a year-over-year basis. Sell-side analysts forecast that Nomad Foods will post 1.37 earnings per share for the current year.

About Nomad Foods

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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