Nomad Foods’ (NOMD) Hold (C-) Rating Reiterated at Weiss Ratings

Weiss Ratings restated their hold (c-) rating on shares of Nomad Foods (NYSE:NOMD) in a report published on Friday,Weiss Ratings reports.

A number of other research analysts have also weighed in on the stock. Zacks Research lowered shares of Nomad Foods from a “hold” rating to a “strong sell” rating in a research note on Monday, September 29th. Barclays reduced their price objective on shares of Nomad Foods from $20.00 to $18.00 and set an “overweight” rating for the company in a research note on Friday, August 8th. BTIG Research reduced their price objective on shares of Nomad Foods from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Wednesday, September 17th. Finally, Mizuho reduced their price objective on shares of Nomad Foods from $23.00 to $20.00 and set an “outperform” rating for the company in a research note on Tuesday, August 12th. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $19.75.

Nomad Foods Trading Down 0.2%

Shares of NOMD stock opened at $11.29 on Friday. The company has a 50 day moving average of $13.30 and a 200-day moving average of $16.04. The company has a quick ratio of 0.63, a current ratio of 1.02 and a debt-to-equity ratio of 0.81. Nomad Foods has a 12-month low of $11.10 and a 12-month high of $20.81. The firm has a market cap of $1.73 billion, a P/E ratio of 7.73 and a beta of 0.70.

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

Nomad Foods Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Monday, November 10th will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 6.0%. The ex-dividend date of this dividend is Monday, November 10th. Nomad Foods’s payout ratio is currently 46.58%.

Hedge Funds Weigh In On Nomad Foods

A number of large investors have recently added to or reduced their stakes in NOMD. Boston Partners raised its position in Nomad Foods by 40.3% in the 2nd quarter. Boston Partners now owns 14,323,433 shares of the company’s stock worth $243,276,000 after purchasing an additional 4,114,150 shares during the period. Polaris Capital Management LLC raised its position in Nomad Foods by 138.8% in the 3rd quarter. Polaris Capital Management LLC now owns 3,441,900 shares of the company’s stock worth $45,261,000 after purchasing an additional 2,000,400 shares during the period. Norges Bank purchased a new position in Nomad Foods in the 2nd quarter worth $15,603,000. Qube Research & Technologies Ltd raised its position in Nomad Foods by 164.1% in the 2nd quarter. Qube Research & Technologies Ltd now owns 1,195,533 shares of the company’s stock worth $20,312,000 after purchasing an additional 742,813 shares during the period. Finally, Perpetual Ltd raised its position in Nomad Foods by 115.6% in the 3rd quarter. Perpetual Ltd now owns 1,181,555 shares of the company’s stock worth $15,537,000 after purchasing an additional 633,650 shares during the period. Hedge funds and other 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.