Berenberg Bank Initiates Coverage on Nomad Foods Limited (NOMD)
Berenberg Bank began coverage on shares of Nomad Foods Limited (NYSE:NOMD) in a research report issued on Thursday. The brokerage set a “buy” rating and a $18.00 price target on the stock. Berenberg Bank’s price target indicates a potential upside of 21.79% from the stock’s current price.
Separately, Zacks Investment Research cut Nomad Foods Limited from a “strong-buy” rating to a “hold” rating in a research note on Wednesday. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $15.75.
Nomad Foods Limited (NYSE:NOMD) opened at $14.78 on Thursday. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.09 and a quick ratio of 0.68. Nomad Foods Limited has a twelve month low of $9.00 and a twelve month high of $15.49. The stock has a market capitalization of $2,470.00 and a price-to-earnings ratio of 16.09.
Nomad Foods Limited (NYSE:NOMD) last issued its quarterly earnings data on Friday, August 25th. The company reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.03. Nomad Foods Limited had a return on equity of 7.93% and a net margin of 3.56%. The business had revenue of $458.10 million for the quarter, compared to analysts’ expectations of $459.51 million. During the same period last year, the business earned $0.19 EPS. The business’s revenue was up .5% on a year-over-year basis. analysts predict that Nomad Foods Limited will post 1.11 earnings per share for the current year.
A number of large investors have recently modified their holdings of NOMD. Legato Capital Management LLC bought a new position in Nomad Foods Limited during the 2nd quarter valued at $2,552,000. Russell Investments Group Ltd. increased its position in shares of Nomad Foods Limited by 61.2% during the 2nd quarter. Russell Investments Group Ltd. now owns 1,282,736 shares of the company’s stock valued at $18,097,000 after purchasing an additional 487,240 shares during the last quarter. Acadian Asset Management LLC increased its position in shares of Nomad Foods Limited by 906.6% during the 2nd quarter. Acadian Asset Management LLC now owns 221,728 shares of the company’s stock valued at $3,128,000 after purchasing an additional 199,701 shares during the last quarter. Janney Montgomery Scott LLC increased its position in shares of Nomad Foods Limited by 20.0% during the 2nd quarter. Janney Montgomery Scott LLC now owns 40,850 shares of the company’s stock valued at $576,000 after purchasing an additional 6,815 shares during the last quarter. Finally, Suffolk Capital Management LLC increased its position in shares of Nomad Foods Limited by 190.2% during the 2nd quarter. Suffolk Capital Management LLC now owns 121,409 shares of the company’s stock valued at $1,713,000 after purchasing an additional 79,578 shares during the last quarter. Institutional investors and hedge funds own 80.02% of the company’s stock.
About Nomad Foods Limited
Nomad Foods Limited manufactures and distributes frozen foods primarily in the United Kingdom, Italy, Germany, Sweden, France, and Norway. The companys frozen food products include fish, vegetables, poultry products, and ready meals. It sells its products directly or through distribution arrangements to supermarkets and large food retail chains under the Birdseye, Findus, and Iglo brands.
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