Can Nomad Foods Limited (NOMD)’s Tomorrow be Different? The Stock Just Broke Its High

May 17, 2018 - By Bradley Stiles

Nomad Foods Limited (NYSE:NOMD) Logo

The stock of Nomad Foods Limited (NYSE:NOMD) hit a new 52-week high and has $18.76 target or 5.00 % above today’s $17.87 share price. The 8 months bullish chart indicates low risk for the $3.11B company. The 1-year high was reported on May, 17 by Barchart.com. If the $18.76 price target is reached, the company will be worth $155.45 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock.

The stock increased 0.51% or $0.09 during the last trading session, reaching $17.87. About 1.01 million shares traded. Nomad Foods Limited (NYSE:NOMD) has risen 44.66% since May 17, 2017 and is uptrending. It has outperformed by 33.11% the S&P500.

Analysts await Nomad Foods Limited (NYSE:NOMD) to report earnings on August, 23. They expect $0.34 earnings per share, up 36.00 % or $0.09 from last year’s $0.25 per share. NOMD’s profit will be $59.15 million for 13.14 P/E if the $0.34 EPS becomes a reality. After $0.43 actual earnings per share reported by Nomad Foods Limited for the previous quarter, Wall Street now forecasts -20.93 % negative EPS growth.

More recent Nomad Foods Limited (NYSE:NOMD) news were published by: Seekingalpha.com which released: “Nomad Foods Limited (NOMD) CEO Stéfan Descheemaeker on Q1 2018 Earnings Conference Call Transcript” on May 12, 2018. Also Seekingalpha.com published the news titled: “Corvex adds ServiceNow, exits Comcast in Q1” on May 15, 2018. Streetinsider.com‘s news article titled: “Elliott’s 13F Shows New Stake in Commault (CVLT), Dish (DISH), Micro Focus (MFGP) (more…)” with publication date: May 15, 2018 was also an interesting one.

Nomad Foods Limited manufactures and distributes frozen foods primarily in the United Kingdom, Italy, Germany, Sweden, France, and Norway. The company has market cap of $3.11 billion. The companyÂ’s frozen food products include fish, vegetables, poultry products, and ready meals. It has a 19.64 P/E ratio. 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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