Nomad Foods Limited (NYSE:NOMD) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Nomad Foods Limited (NYSE:NOMD) have been assigned a consensus recommendation of “Moderate Buy” from the five analysts that are covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $17.00.

Several brokerages recently commented on NOMD. Weiss Ratings reiterated a “hold (c-)” rating on shares of Nomad Foods in a research note 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. BTIG Research reissued a “buy” rating and issued a $18.00 target price on shares of Nomad Foods in a report on Monday, November 10th. Finally, Mizuho dropped their price target on Nomad Foods from $17.00 to $15.00 and set an “outperform” rating on the stock in a research note on Thursday, January 8th.

Institutional Trading of Nomad Foods

Large investors have recently bought and sold shares of the business. Vontobel Holding Ltd. increased its stake in Nomad Foods by 3.5% in the second quarter. Vontobel Holding Ltd. now owns 20,417 shares of the company’s stock valued at $347,000 after purchasing an additional 688 shares during the period. Vanguard Personalized Indexing Management LLC grew its holdings in shares of Nomad Foods by 2.4% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 30,048 shares of the company’s stock worth $511,000 after buying an additional 690 shares during the last quarter. Tidal Investments LLC increased its position in Nomad Foods by 1.9% in the 2nd quarter. Tidal Investments LLC now owns 38,037 shares of the company’s stock valued at $646,000 after acquiring an additional 726 shares during the period. California Public Employees Retirement System increased its position in Nomad Foods by 0.4% in the 2nd quarter. California Public Employees Retirement System now owns 268,627 shares of the company’s stock valued at $4,564,000 after acquiring an additional 1,044 shares during the period. Finally, Osaic Holdings Inc. raised its stake in 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 acquiring an additional 1,240 shares during the last quarter. Institutional investors and hedge funds own 75.26% of the company’s stock.

Nomad Foods Trading Down 0.8%

NOMD opened at $12.60 on Tuesday. 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 one year low of $11.04 and a one year high of $20.81. The company has a market cap of $1.93 billion, a P/E ratio of 8.75 and a beta of 0.72. The business’s 50-day simple moving average is $12.24 and its 200-day simple moving average is $13.34.

Nomad Foods (NYSE:NOMD) last announced its quarterly earnings results on Thursday, November 6th. The company reported $0.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.01). The business had revenue of $881.94 million during the quarter, compared to analyst estimates of $760.75 million. Nomad Foods had a net margin of 6.56% and a return on equity of 9.73%. The business’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same period last year, the company earned $0.55 earnings per share. As a group, equities research analysts expect that Nomad Foods will post 1.82 EPS for the current fiscal year.

Nomad Foods Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 26th. Stockholders of record on Wednesday, February 11th will be given a dividend of $0.17 per share. The ex-dividend date is Wednesday, February 11th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 5.4%. Nomad Foods’s dividend payout ratio (DPR) is 47.22%.

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.