Mizuho Issues Pessimistic Forecast for Nomad Foods (NYSE:NOMD) Stock Price

Nomad Foods (NYSE:NOMD) had its price target decreased by equities researchers at Mizuho from $26.00 to $23.00 in a report issued on Monday, MarketBeat Ratings reports. The firm presently has an “outperform” rating on the stock. Mizuho’s target price would indicate a potential upside of 32.41% from the company’s previous close.

A number of other brokerages also recently commented on NOMD. Wall Street Zen downgraded shares of Nomad Foods from a “buy” rating to a “hold” rating in a research report on Friday, May 9th. Barclays set a $20.00 price target on Nomad Foods and gave the stock an “overweight” rating in a report on Tuesday, July 15th.

Nomad Foods Stock Performance

NOMD opened at $17.37 on Monday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.66 and a current ratio of 1.06. The business’s 50-day simple moving average is $17.35 and its 200 day simple moving average is $18.26. The firm has a market capitalization of $2.66 billion, a PE ratio of 11.58 and a beta of 0.73. Nomad Foods has a 52-week low of $15.43 and a 52-week high of $20.81.

Nomad Foods (NYSE:NOMD) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.04). Nomad Foods had a return on equity of 10.60% and a net margin of 7.35%. The company had revenue of $822.31 million for the quarter, compared to the consensus estimate of $769.39 million. During the same quarter in the prior year, the company earned $0.37 EPS. The company’s revenue for the quarter was down 3.0% on a year-over-year basis. As a group, sell-side analysts expect that Nomad Foods will post 1.82 earnings per share for the current fiscal year.

Institutional Trading of Nomad Foods

A number of hedge funds have recently modified their holdings of NOMD. Boston Partners boosted its stake in Nomad Foods by 11.1% in the 1st quarter. Boston Partners now owns 10,209,283 shares of the company’s stock valued at $200,615,000 after purchasing an additional 1,019,957 shares during the period. Brown Advisory Inc. lifted its holdings in shares of Nomad Foods by 0.8% during the first quarter. Brown Advisory Inc. now owns 8,442,222 shares of the company’s stock worth $165,890,000 after buying an additional 66,060 shares in the last quarter. Alliancebernstein L.P. boosted its position in shares of Nomad Foods by 2.5% in the fourth quarter. Alliancebernstein L.P. now owns 7,708,354 shares of the company’s stock valued at $129,346,000 after acquiring an additional 187,146 shares during the period. Allspring Global Investments Holdings LLC grew its stake in shares of Nomad Foods by 3.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 6,824,222 shares of the company’s stock valued at $134,096,000 after acquiring an additional 254,314 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. grew its stake in shares of Nomad Foods by 2.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 4,176,211 shares of the company’s stock valued at $70,077,000 after acquiring an additional 86,897 shares in the last quarter. Institutional investors and hedge funds own 75.26% of the company’s stock.

About Nomad Foods

Nomad Foods Limited, together with its subsidiaries, manufactures, markets, and distributes a range of frozen food products in the United Kingdom and internationally. The company offers frozen fish products, including fish fingers, coated fish, and natural fish; ready-to-cook vegetable products, such as peas and spinach; and frozen poultry and meat products comprising nuggets, grills, and burgers.