According to the data made available by Bloomberg.com, the eight rating agencies following Nomad Foods Limited (NYSE: NOMD) have provided the company with an average recommendation of “Moderate Buy” for its stock. The stock research specialists have suggested to the company five times that they believe the company should buy the stock, while they have only suggested twice that the company should hold onto the stock. The vast majority of analysts who have recently covered the company have concluded that the company’s stock should have a price target of $24.14 per share for the coming year.
Quite a few of the world’s leading research institutions have considered NOMD. The rating for Nomad Foods was upgraded from “hold” to “buy” in a research note published by StockNews.com on November 16th. The note was distributed to investors. In a research note published on Monday, October 10th, Goldman Sachs Group lowered the “neutral” rating they had previously assigned to the shares of Nomad Foods. It lowered the price objective they had previously assigned to the stock from $22.00 to $19.00. Deutsche Bank Aktiengesellschaft increased their price objective on Nomad Foods stock from $22.00 to $25.00 and gave the stock a “buy” rating in a research report published on Tuesday, December 6th. The report’s subject matter was the stock. Credit Suisse Group lowered their price objective on Nomad Foods stock from $25.00 to $20.00. It changed its rating on the company from “outperform” to “neutral” in a research report published on Thursday, January 5th.
Recent events have resulted in several institutional investors and hedge funds either making changes to the size of their holdings in the company or increasing the size of those holdings. During the second quarter, Polaris Capital Management LLC saw a 194.1% increase in the amount of Nomad Foods stock it owned as a percentage of its total holdings. After making purchases totaling 4,832,306 shares over the most recent quarter, Polaris Capital Management LLC owns 7,322,000 shares of the company’s stock. The total value of Polaris Capital Management LLC’s holdings in the company is calculated to be $146,367,000 based on the value of these shares. During the first three months of the year, Wellington Management Group LLP was able to amass 10.7% more shares of Nomad Foods, bringing the total number of shares it owned to 102. Following the most recent acquisition of an additional 1,501,225 shares, Wellington Management Group LLP now owns a total of 15,574,393 of those shares, which have a value of $351,670,000. The value of State Street Corporation’s holdings in Nomad Foods increased by 595.3% during the first three months of 2018. After making an additional purchase of 750,281 shares during the most recent period, State Street Corp. now has 876,307 shares, collectively worth $19,787,000. This brings the total value of State Street Corp.’s holdings to $19,787,000. In the second quarter, Millennium Management LLC accomplished a staggering 369.9% increase in its ownership stake in Nomad Foods. After investing in 671,874 shares during the most recent quarter, Millennium Management LLC now holds 853,501 shares in its portfolio. The total value of the holdings that Millennium Management LLC has in this company comes to $17,061,000. During the second quarter, Deutsche Bank AG made a 27.8 percent increase in the amount of Nomad Foods stock it owned, making it the last point to mention. After acquiring an additional 405,277 shares during the most recent quarter, Deutsche Bank AG now holds 1,865,098 shares in its portfolio. The total value of the holdings that Deutsche Bank AG has in the company is $37,283,00. To the tune of 78.54%, the company’s stock is owned by institutional investors who are investing in the company.
The first day of trading for NOMD was Friday, and the opening price was $17.28. Over the previous year, the price of Nomad Foods fluctuated between $12.50 and $26.79, reaching a low of $12.50 and a high of $26.79. The debt-to-equity ratio presently stands at 0.89, the quick ratio stands at 0.63, and the current ratio stands at 1.15. The company’s moving average price over the previous 50 days is $17.08, and the moving average price over the previous 200 days is $16.91. The company’s current market capitalization value is estimated to be 2.98 billion dollars, while its PE ratio stands at 11.76 and its beta stands at 0.74.
Nomad Foods (NYSE: NOMD) announced the financial results of its third fiscal quarter on Wednesday, November 9th. The company reported earnings per share (EPS) of $0.52 for the quarter, which was $0.08 higher than the average expectation of $0.44 that analysts provided. The revenue for the quarter came in at $765.60 million, which is a sizeable increase compared to the average prediction of $718.52 million company reported earnings per share (EPS) of $0.52 for the quarter, which was $0.08 higher than the average expectation of $0.44 that analysts provided. The revenue for the quarter came in at $765.60 million, which is a sizeable increase compared to the average prediction of $718.52 million. Nomad Foods achieved a return on equity of 12.08%, and the net margin for the company was 8.23%. Sell-side analysts anticipate that Nomad Foods will generate $1.75 per share earnings during the current fiscal year.
Nomad Foods Limited is in the business of producing frozen food products as well as selling and distributing these products throughout Europe, which includes the countries of the United Kingdom, Italy, Germany, France, Sweden, Austria, Norway, Spain, and the rest of the world. These countries are included in Europe. In addition to vegetables like peas and spinach, the company also sells products made from chicken and other kinds of meat, such as nuggets, grills, and burgers. These products can be found in the company’s frozen food section. Additionally, it sells fish-based products such as fish fingers, coated fish, and natural fish in addition to selling fish itself.
