Nomad Foods Limited (NYSE:NOMD) Receives $17.00 Consensus PT from Analysts

Nomad Foods Limited (NYSE:NOMD) has been assigned an average recommendation of “Moderate Buy” from the five ratings firms that are currently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $17.00.

A number of research firms have recently weighed in on NOMD. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Nomad Foods in a research report on Friday, October 31st. Mizuho dropped their price target on shares of Nomad Foods from $17.00 to $15.00 and set an “outperform” rating for the company in a research report on Thursday, January 8th. BTIG Research restated a “buy” rating and set a $18.00 price objective on shares of Nomad Foods in a research report on Monday, November 10th. Finally, Zacks Research raised shares of Nomad Foods from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 6th.

Nomad Foods Stock Up 0.1%

NOMD opened at $11.86 on Friday. The firm’s 50 day simple moving average is $12.23 and its two-hundred day simple moving average is $13.82. The company has a market capitalization of $1.82 billion, a PE ratio of 8.24 and a beta of 0.71. Nomad Foods has a 1-year low of $11.04 and a 1-year high of $20.81. The company has a current ratio of 1.02, a quick ratio of 0.59 and a debt-to-equity ratio of 0.81.

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

Nomad Foods Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Investors 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 (DPR) is currently 47.22%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Norges Bank bought a new position in shares of Nomad Foods during the 2nd quarter valued at approximately $15,603,000. Meritage Portfolio Management bought a new stake in Nomad Foods in the second quarter worth $6,599,000. Polaris Capital Management LLC raised its stake in Nomad Foods by 138.8% during the third quarter. Polaris Capital Management LLC now owns 3,441,900 shares of the company’s stock valued at $45,261,000 after purchasing an additional 2,000,400 shares in the last quarter. Moody Aldrich Partners LLC lifted its position in Nomad Foods by 188.1% during the third quarter. Moody Aldrich Partners LLC now owns 247,558 shares of the company’s stock valued at $3,255,000 after purchasing an additional 161,623 shares during the last quarter. Finally, Miller Howard Investments Inc. NY purchased a new position in shares of Nomad Foods in the 2nd quarter worth $448,000. 75.26% of the stock is currently owned by institutional investors.

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.