Nomad Foods Limited (NYSE:NOMD) Receives $19.75 Consensus PT from Analysts

Nomad Foods Limited (NYSE:NOMD) has been given an average rating of “Moderate Buy” by the six analysts that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $19.75.

A number of equities analysts have recently weighed in on the company. Barclays lowered their target price on Nomad Foods from $20.00 to $18.00 and set an “overweight” rating on the stock in a research note on Friday, August 8th. Mizuho lowered their target price on Nomad Foods from $23.00 to $20.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 12th. Zacks Research lowered Nomad Foods from a “hold” rating to a “strong sell” rating in a research note on Monday, September 29th. BTIG Research lowered their target price on Nomad Foods from $20.00 to $18.00 and set a “buy” rating on the stock in a research note on Wednesday, September 17th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Nomad Foods in a research note on Saturday, September 27th.

Nomad Foods Price Performance

NYSE:NOMD opened at $13.10 on Wednesday. The company has a quick ratio of 0.63, a current ratio of 1.02 and a debt-to-equity ratio of 0.81. The stock’s 50 day moving average price is $14.86 and its two-hundred day moving average price is $17.11. The firm has a market capitalization of $2.01 billion, a price-to-earnings ratio of 8.97 and a beta of 0.70. Nomad Foods has a 12-month low of $12.89 and a 12-month high of $20.81.

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

Nomad Foods Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 26th. Stockholders of record on Monday, August 11th were paid a dividend of $0.17 per share. The ex-dividend date was Monday, August 11th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 5.2%. Nomad Foods’s dividend payout ratio (DPR) is 46.58%.

Institutional Investors Weigh In On Nomad Foods

A number of large investors have recently added to or reduced their stakes in NOMD. Boston Partners grew its position in Nomad Foods by 40.3% during the second quarter. Boston Partners now owns 14,323,433 shares of the company’s stock worth $243,276,000 after buying an additional 4,114,150 shares in the last quarter. Norges Bank acquired a new stake in shares of Nomad Foods in the 2nd quarter valued at $15,603,000. Qube Research & Technologies Ltd boosted its holdings in shares of Nomad Foods by 164.1% in the 2nd quarter. Qube Research & Technologies Ltd now owns 1,195,533 shares of the company’s stock valued at $20,312,000 after purchasing an additional 742,813 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of Nomad Foods by 46.2% in the 1st quarter. Ameriprise Financial Inc. now owns 1,851,199 shares of the company’s stock valued at $36,376,000 after purchasing an additional 585,054 shares in the last quarter. Finally, Hennessy Advisors Inc. acquired a new stake in shares of Nomad Foods in the 2nd quarter valued at $8,617,000. Institutional investors and hedge funds 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.