Nomad Foods Ltd (NYSE:NOMD)’s share price reached a new 52-week high during mid-day trading on Thursday following a stronger than expected earnings report. The stock traded as high as $21.45 and last traded at $20.32, with a volume of 88746 shares changing hands. The stock had previously closed at $19.29.
The company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.01. The firm had revenue of $531.00 million during the quarter, compared to analysts’ expectations of $514.37 million. Nomad Foods had a net margin of 8.19% and a return on equity of 10.44%. The company’s quarterly revenue was up 15.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.22 EPS.
NOMD has been the subject of several analyst reports. Zacks Investment Research cut shares of Nomad Foods from a “hold” rating to a “strong sell” rating in a research report on Thursday. TheStreet upgraded shares of Nomad Foods from a “d” rating to a “c” rating in a research report on Tuesday, October 16th. Barclays initiated coverage on shares of Nomad Foods in a research report on Friday, October 5th. They set an “overweight” rating for the company. UBS Group lifted their price target on shares of Nomad Foods from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Friday, August 10th. Finally, Wells Fargo & Co lifted their price target on shares of Nomad Foods from $23.00 to $25.00 and gave the stock a “buy” rating in a research report on Friday, August 10th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company. Nomad Foods has an average rating of “Buy” and a consensus target price of $22.17.
The company has a market capitalization of $3.36 billion, a price-to-earnings ratio of 18.15, a P/E/G ratio of 0.95 and a beta of 0.89. The company has a current ratio of 1.36, a quick ratio of 0.90 and a debt-to-equity ratio of 0.90.
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About Nomad Foods (NYSE:NOMD)
Nomad Foods Limited manufactures and distributes frozen foods in Western 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. It also provides meals products that include ready to cook noodles, pasta, lasagne, pancakes, and other ready-made meals; and other products, such as soups, pizzas, and bakery goods.
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