Nomad Foods Limited (NYSE:NOMD – Get Rating) – Jefferies Financial Group lowered their Q3 2022 earnings per share estimates for Nomad Foods in a research note issued on Thursday, September 15th. Jefferies Financial Group analyst R. Dickerson now expects that the company will earn $0.45 per share for the quarter, down from their previous estimate of $0.47. The consensus estimate for Nomad Foods' current full-year earnings is $1.77 per share. Jefferies Financial Group also issued estimates for Nomad Foods' Q4 2022 earnings at $0.39 EPS, FY2022 earnings at $1.69 EPS, Q3 2023 earnings at $0.46 EPS, Q4 2023 earnings at $0.43 EPS, FY2023 earnings at $1.84 EPS and FY2024 earnings at $2.04 EPS.
Get Nomad Foods alerts:A number of other analysts have also recently weighed in on NOMD. StockNews.com cut Nomad Foods from a "buy" rating to a "hold" rating in a research note on Friday, September 2nd. Credit Suisse Group cut their price target on Nomad Foods to $25.00 in a research note on Monday, August 15th. Finally, Mizuho dropped their price objective on Nomad Foods from $25.00 to $24.00 and set a "buy" rating on the stock in a report on Friday, September 2nd. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $27.00.
Nomad Foods Stock Down 2.9 %
Shares of NYSE NOMD opened at $16.45 on Monday. The stock has a market cap of $2.84 billion, a P/E ratio of 12.28 and a beta of 0.63. The company has a current ratio of 1.07, a quick ratio of 0.60 and a debt-to-equity ratio of 0.91. Nomad Foods has a 12-month low of $16.39 and a 12-month high of $28.92. The business's fifty day simple moving average is $18.16 and its 200-day simple moving average is $19.59.Nomad Foods (NYSE:NOMD – Get Rating) last released its quarterly earnings results on Wednesday, August 10th. The company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.44 by $0.02. The business had revenue of $697.00 million during the quarter, compared to analyst estimates of $681.73 million. Nomad Foods had a return on equity of 11.35% and a net margin of 7.68%. The company's quarterly revenue was up 16.9% on a year-over-year basis. During the same period last year, the business posted $0.48 earnings per share.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of NOMD. Price T Rowe Associates Inc. MD boosted its position in Nomad Foods by 3.4% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 9,080,671 shares of the company's stock worth $181,523,000 after purchasing an additional 299,689 shares during the period. PDT Partners LLC acquired a new stake in shares of Nomad Foods in the 2nd quarter valued at about $447,000. Cubist Systematic Strategies LLC raised its stake 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 acquiring an additional 14,937 shares during the period. Millennium Management LLC raised its stake in Nomad Foods by 369.9% during the second quarter. Millennium Management LLC now owns 853,501 shares of the company's stock worth $17,061,000 after acquiring an additional 671,874 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its stake in Nomad Foods by 2.6% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,949,222 shares of the company's stock worth $58,955,000 after acquiring an additional 75,030 shares during the period. 92.55% of the stock is currently owned by institutional investors and hedge funds.
About Nomad Foods
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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.
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