Nomad Foods (NYSE:NOMD) Issues FY 2024 Earnings Guidance

Nomad Foods (NYSE:NOMD) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 1.890-1.950 for the period, compared to the consensus earnings per share estimate of 1.910. The company issued revenue guidance of -. Nomad Foods also updated its FY24 guidance to €1.75 to €1.80 EPS.

Nomad Foods Price Performance

Shares of NOMD stock traded up $1.11 on Thursday, reaching $18.96. The company’s stock had a trading volume of 619,527 shares, compared to its average volume of 625,654. The stock’s fifty day simple moving average is $18.98 and its 200-day simple moving average is $17.50. Nomad Foods has a 1 year low of $13.56 and a 1 year high of $20.05. The company has a market capitalization of $3.09 billion, a price-to-earnings ratio of 14.51 and a beta of 0.77. The company has a current ratio of 1.13, a quick ratio of 0.70 and a debt-to-equity ratio of 0.82.

Nomad Foods (NYSE:NOMD) last issued its quarterly earnings data on Thursday, February 29th. The company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.01. The business had revenue of $761.00 million during the quarter, compared to analysts’ expectations of $766.56 million. Nomad Foods had a net margin of 6.34% and a return on equity of 10.41%. During the same period last year, the company posted $0.34 EPS. Analysts forecast that Nomad Foods will post 1.91 earnings per share for the current fiscal year.

Nomad Foods Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 28th. Shareholders of record on Thursday, May 9th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Wednesday, May 8th. This represents a $0.60 dividend on an annualized basis and a yield of 3.16%. Nomad Foods’s dividend payout ratio (DPR) is presently 48.78%.

Wall Street Analyst Weigh In

Separately, Barclays lifted their target price on Nomad Foods from $20.00 to $22.00 and gave the stock an overweight rating in a report on Friday, February 2nd.

About Nomad Foods

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.