Nomad Foods Limited (NYSE:NOMD) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Nomad Foods Limited (NYSE:NOMD) have received an average rating of “Moderate Buy” from the five ratings firms that are currently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $17.00.

A number of analysts have issued reports on the company. Mizuho decreased their target price on Nomad Foods from $17.00 to $15.00 and set an “outperform” rating for the company in a research report on Thursday. Zacks Research raised Nomad Foods from a “strong sell” rating to a “hold” rating in a report on Tuesday. BTIG Research restated a “buy” rating and issued a $18.00 price objective on shares of Nomad Foods in a research note on Monday, November 10th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Nomad Foods in a report on Friday, October 31st.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Osaic Holdings Inc. lifted its holdings 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 worth $45,000 after acquiring an additional 1,240 shares during the last quarter. Johnson Financial Group Inc. purchased a new position in shares of Nomad Foods in the third quarter valued at about $43,000. Mondrian Investment Partners LTD bought a new position in shares of Nomad Foods during the third quarter valued at about $44,000. Arizona PSPRS Trust purchased a new stake in shares of Nomad Foods during the third quarter worth about $121,000. Finally, Virtu Financial LLC purchased a new stake in shares of Nomad Foods during the third quarter worth about $144,000. Institutional investors own 75.26% of the company’s stock.

Nomad Foods Stock Performance

NYSE NOMD opened at $11.98 on Friday. The company has a market capitalization of $1.84 billion, a PE ratio of 8.32 and a beta of 0.71. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.59 and a current ratio of 1.02. Nomad Foods has a 52-week low of $11.04 and a 52-week high of $20.81. The company has a 50-day simple moving average of $12.17 and a 200 day simple moving average of $14.00.

Nomad Foods (NYSE:NOMD) last released its earnings results on Thursday, November 6th. The company reported $0.57 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.01). The company had revenue of $881.94 million for the quarter, compared to the consensus estimate of $760.75 million. Nomad Foods had a net margin of 6.56% and a return on equity of 9.73%. The firm’s revenue was down 2.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.55 earnings per share. On average, research analysts predict that Nomad Foods will post 1.82 EPS for the current year.

Nomad Foods Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Monday, November 10th were given a dividend of $0.17 per share. The ex-dividend date was Monday, November 10th. This represents a $0.68 annualized dividend and a dividend yield of 5.7%. Nomad Foods’s dividend payout ratio is currently 47.22%.

Nomad Foods Company Profile

Nomad Foods Limited is a leading frozen foods company headquartered in the United Kingdom, operating under the ticker symbol NOMD on the New York Stock Exchange. The company’s portfolio comprises well-known consumer brands such as Birds Eye, iglo, Findus, Goodfella’s and Aunt Bessie’s, covering a wide range of categories including vegetables, seafood, ready meals, pizzas and desserts. Nomad Foods focuses on delivering convenient, high-quality frozen products designed to meet evolving consumer preferences for taste, nutrition and ease of preparation.

Formed in 2015 through the acquisition of Iglo Group by investment firms Permira and Goldman Sachs Asset Management, Nomad Foods was created with the strategy of building Europe’s largest frozen foods platform.