Nomad Foods (NYSE:NOMD) Cut to Strong Sell at Zacks Research

Zacks Research lowered shares of Nomad Foods (NYSE:NOMD) from a hold rating to a strong sell rating in a research note released on Monday,Zacks.com reports.

A number of other equities analysts have also recently issued reports on the company. BTIG Research lowered their target price on Nomad Foods from $20.00 to $18.00 and set a “buy” rating for the company in a report on Wednesday, September 17th. Mizuho lowered their target price on Nomad Foods from $23.00 to $20.00 and set an “outperform” rating for the company in a report on Tuesday, August 12th. Finally, Barclays lowered their target price on Nomad Foods from $20.00 to $18.00 and set an “overweight” rating for the company in a report on Friday, August 8th. Four analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $19.75.

Nomad Foods Stock Performance

NYSE:NOMD opened at $13.39 on Monday. The stock has a market cap of $2.05 billion, a P/E ratio of 9.17 and a beta of 0.70. The stock has a 50 day simple moving average of $15.05 and a 200 day simple moving average of $17.20. The company has a current ratio of 1.02, a quick ratio of 0.63 and a debt-to-equity ratio of 0.81. Nomad Foods has a 1-year low of $12.89 and a 1-year high of $20.81.

Nomad Foods (NYSE:NOMD) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.01. The firm had revenue of $879.27 million during the quarter, compared to analysts’ expectations of $762.81 million. Nomad Foods had a return on equity of 10.26% and a net margin of 6.93%.The company’s quarterly revenue was down .8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.44 EPS. Research analysts anticipate that Nomad Foods will post 1.82 earnings per share for the current year.

Nomad Foods Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 26th. Investors of record on Monday, August 11th were given a dividend of $0.17 per share. The ex-dividend date was Monday, August 11th. This represents a $0.68 annualized dividend and a dividend yield of 5.1%. Nomad Foods’s dividend payout ratio is presently 46.58%.

Institutional Investors Weigh In On Nomad Foods

Several institutional investors and hedge funds have recently made changes to their positions in NOMD. Summit Securities Group LLC bought a new stake in shares of Nomad Foods during the 1st quarter valued at about $32,000. Osaic Holdings Inc. boosted its position in shares of Nomad Foods by 87.4% during the 2nd quarter. Osaic Holdings Inc. now owns 2,658 shares of the company’s stock valued at $45,000 after purchasing an additional 1,240 shares in the last quarter. State of Wyoming boosted its position in shares of Nomad Foods by 56.6% during the 1st quarter. State of Wyoming now owns 9,466 shares of the company’s stock valued at $186,000 after purchasing an additional 3,421 shares in the last quarter. Sequoia Financial Advisors LLC bought a new stake in shares of Nomad Foods during the 1st quarter valued at about $196,000. Finally, Sciencast Management LP bought a new position in Nomad Foods in the first quarter worth approximately $196,000. Institutional investors own 75.26% of the company’s stock.

Nomad Foods Company Profile

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.