Nomad Foods Limited (NYSE:NOMD) Given Average Recommendation of “Hold” by Brokerages

Nomad Foods Limited (NYSE:NOMD) has received an average recommendation of “Hold” from the five analysts that are covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and three have given a buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $18.6667.

Several research analysts have commented on NOMD shares. Zacks Research downgraded shares of Nomad Foods from a “hold” rating to a “strong sell” rating in a research note on Monday, September 29th. BTIG Research restated a “buy” rating and set a $18.00 price target on shares of Nomad Foods in a research report on Monday, November 10th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Nomad Foods in a report on Friday, October 31st.

Institutional Investors Weigh In On Nomad Foods

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its stake in shares of Nomad Foods by 6.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,211,211 shares of the company’s stock worth $23,800,000 after purchasing an additional 70,344 shares during the last quarter. HighTower Advisors LLC lifted its holdings in Nomad Foods by 12.7% in the 1st quarter. HighTower Advisors LLC now owns 12,729 shares of the company’s stock worth $250,000 after buying an additional 1,432 shares during the period. Russell Investments Group Ltd. grew its position in shares of Nomad Foods by 30.0% in the 1st quarter. Russell Investments Group Ltd. now owns 613,669 shares of the company’s stock worth $12,059,000 after buying an additional 141,667 shares during the last quarter. Penn Mutual Asset Management purchased a new position in shares of Nomad Foods during the first quarter valued at approximately $246,000. Finally, Summit Securities Group LLC bought a new position in shares of Nomad Foods during the first quarter valued at approximately $32,000. 75.26% of the stock is currently owned by institutional investors.

Nomad Foods Stock Down 0.7%

Shares of NYSE:NOMD opened at $12.80 on Monday. The firm has a market capitalization of $1.96 billion, a PE ratio of 8.89 and a beta of 0.73. 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 firm has a fifty day moving average of $12.06 and a 200 day moving average of $14.48.

Nomad Foods (NYSE:NOMD) last announced 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 firm 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%. Nomad Foods’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.55 earnings per share. As a group, research analysts anticipate that Nomad Foods will post 1.82 EPS for the current fiscal year.

Nomad Foods Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Monday, November 10th were given a $0.17 dividend. The ex-dividend date was Monday, November 10th. This represents a $0.68 annualized dividend and a yield of 5.3%. Nomad Foods’s payout ratio is presently 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.