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Nomad Foods (NYSE:NOMD) Updates FY 2022 Earnings Guidance

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Nomad Foods (NYSE:NOMD – Get Rating) updated its FY 2022 earnings guidance on Friday. The company provided earnings per share guidance of $1.76-$1.82 for the period, compared to the consensus earnings per share estimate of $1.74. The company issued revenue guidance of -.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. StockNews.com downgraded Nomad Foods from a buy rating to a hold rating in a research report on Friday, September 2nd. Deutsche Bank Aktiengesellschaft increased their price target on Nomad Foods from $25.00 to $26.00 in a research note on Thursday, May 12th. Mizuho decreased their price target on Nomad Foods from $25.00 to $24.00 and set a buy rating for the company in a research note on Friday, September 2nd. BTIG Research decreased their price target on Nomad Foods from $32.00 to $25.00 in a research note on Friday, May 13th. Finally, Credit Suisse Group decreased their price target on Nomad Foods to $25.00 in a research note on Monday, August 15th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus target price of $27.00.

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Nomad Foods Stock Performance

Nomad Foods stock traded up $0.32 during midday trading on Friday, hitting $17.44. 1,232,185 shares of the company were exchanged, compared to its average volume of 841,419. The firm has a market capitalization of $3.01 billion, a PE ratio of 13.01 and a beta of 0.63. Nomad Foods has a fifty-two week low of $16.47 and a fifty-two week high of $28.92. The business has a fifty day simple moving average of $18.51 and a two-hundred day simple moving average of $19.99. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.60 and a current ratio of 1.07.

Nomad Foods (NYSE:NOMD – Get Rating) last issued its quarterly earnings data on Wednesday, August 10th. The company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.44 by $0.02. Nomad Foods had a return on equity of 11.35% and a net margin of 7.68%. The company had revenue of $697.00 million for the quarter, compared to analyst estimates of $681.73 million. During the same period last year, the company earned $0.48 earnings per share. Nomad Foods's quarterly revenue was up 16.9% compared to the same quarter last year. On average, sell-side analysts forecast that Nomad Foods will post 1.83 earnings per share for the current year.

Institutional Trading of Nomad Foods

Institutional investors have recently made changes to their positions in the company. Quantbot Technologies LP acquired a new stake in shares of Nomad Foods in the second quarter worth approximately $229,000. Citigroup Inc. lifted its position in Nomad Foods by 172.4% during the first quarter. Citigroup Inc. now owns 15,513 shares of the company's stock worth $350,000 after buying an additional 9,819 shares in the last quarter. Mariner LLC lifted its position in Nomad Foods by 57.1% during the first quarter. Mariner LLC now owns 15,951 shares of the company's stock worth $360,000 after buying an additional 5,799 shares in the last quarter. PDT Partners LLC purchased a new position in Nomad Foods during the second quarter worth approximately $447,000. Finally, Cubist Systematic Strategies LLC lifted its position in Nomad Foods by 133.8% during the second quarter. Cubist Systematic Strategies LLC now owns 26,097 shares of the company's stock worth $522,000 after buying an additional 14,937 shares in the last quarter. 92.55% of the stock is owned by institutional investors and hedge funds.

Nomad Foods Company Profile

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Nomad Foods Limited manufactures, markets, and distributes frozen food products in the United Kingdom, Italy, Germany, France, Sweden, Austria, Norway, 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.

Further Reading

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