Nomad Foods Ltd (NYSE:NOMD) has received an average rating of “Buy” from the seven research firms that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $24.50.
A number of equities research analysts have recently weighed in on NOMD shares. UBS Group set a $25.00 price objective on shares of Nomad Foods and gave the company a “buy” rating in a report on Friday, March 1st. Zacks Investment Research lowered shares of Nomad Foods from a “buy” rating to a “hold” rating in a report on Wednesday, March 6th. TheStreet raised shares of Nomad Foods from a “c” rating to a “b” rating in a report on Friday, March 29th. Finally, Citigroup started coverage on shares of Nomad Foods in a report on Thursday, May 23rd. They set a “neutral” rating and a $24.00 price objective on the stock.
Several institutional investors and hedge funds have recently made changes to their positions in NOMD. Samlyn Capital LLC purchased a new stake in Nomad Foods in the fourth quarter valued at $60,166,000. Norges Bank purchased a new stake in Nomad Foods in the fourth quarter valued at $27,591,000. Laurion Capital Management LP purchased a new stake in Nomad Foods in the first quarter valued at $19,971,000. Marshall Wace LLP boosted its holdings in Nomad Foods by 592.0% in the first quarter. Marshall Wace LLP now owns 1,007,633 shares of the company’s stock valued at $20,606,000 after purchasing an additional 862,031 shares during the last quarter. Finally, Sycomore Asset Management purchased a new stake in Nomad Foods in the fourth quarter valued at $13,564,000. 77.58% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NOMD stock traded down $0.10 during trading hours on Friday, reaching $20.61. 23,556 shares of the company’s stock were exchanged, compared to its average volume of 1,102,276. The company has a market cap of $4.04 billion, a PE ratio of 14.76, a PEG ratio of 1.70 and a beta of 1.08. The company has a current ratio of 1.54, a quick ratio of 1.15 and a debt-to-equity ratio of 0.76. Nomad Foods has a fifty-two week low of $15.87 and a fifty-two week high of $22.67.
Nomad Foods (NYSE:NOMD) last announced its quarterly earnings data on Thursday, May 9th. The company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.09. The firm had revenue of $617.80 million for the quarter, compared to analyst estimates of $613.77 million. Nomad Foods had a net margin of 5.83% and a return on equity of 9.84%. The business’s quarterly revenue was up 14.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.35 earnings per share. On average, equities 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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