Nomad Foods Limited (NYSE:NOMD) Receives $17.00 Average Price Target from Analysts

Nomad Foods Limited (NYSE:NOMD) has earned a consensus rating of “Moderate Buy” from the five research firms that are currently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $17.00.

A number of equities analysts have recently issued reports on NOMD shares. Weiss Ratings reiterated a “hold (c-)” rating on shares of Nomad Foods in a research report on Wednesday, January 28th. Zacks Research raised Nomad Foods from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 6th. Mizuho decreased their price objective on Nomad Foods from $17.00 to $15.00 and set an “outperform” rating on the stock in a research report on Thursday, January 8th. Finally, BTIG Research reissued a “buy” rating and issued a $18.00 target price on shares of Nomad Foods in a research note on Monday, November 10th.

Nomad Foods Stock Performance

Shares of NYSE:NOMD opened at $12.88 on Tuesday. The business has a fifty day moving average of $12.28 and a 200-day moving average of $13.30. 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 twelve month low of $11.04 and a twelve month high of $20.81. The firm has a market cap of $1.98 billion, a PE ratio of 8.94 and a beta of 0.72.

Nomad Foods (NYSE:NOMD) last issued its quarterly earnings data on Thursday, November 6th. The company reported $0.57 EPS 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 return on equity of 9.73% and a net margin of 6.56%.The firm’s revenue was down 2.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.55 EPS. On average, equities research analysts predict that Nomad Foods will post 1.82 EPS for the current fiscal year.

Nomad Foods Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 26th. Shareholders of record on Wednesday, February 11th will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 5.3%. The ex-dividend date of this dividend is Wednesday, February 11th. Nomad Foods’s payout ratio is currently 47.22%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. WealthCollab LLC raised its stake in shares of Nomad Foods by 242.0% during the fourth quarter. WealthCollab LLC now owns 2,052 shares of the company’s stock worth $26,000 after buying an additional 1,452 shares during the last quarter. SBI Securities Co. Ltd. grew its holdings in Nomad Foods by 469.6% during the 4th quarter. SBI Securities Co. Ltd. now owns 2,421 shares of the company’s stock worth $30,000 after acquiring an additional 1,996 shares during the period. Johnson Financial Group Inc. bought a new stake in shares of Nomad Foods during the 3rd quarter valued at $43,000. Mondrian Investment Partners LTD acquired a new position in shares of Nomad Foods in the 3rd quarter valued at $44,000. Finally, Osaic Holdings Inc. boosted its position in shares of Nomad Foods by 87.4% in the 2nd quarter. Osaic Holdings Inc. now owns 2,658 shares of the company’s stock worth $45,000 after purchasing an additional 1,240 shares during the last quarter. Institutional investors own 75.26% of the company’s stock.

About Nomad Foods

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.