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

Nomad Foods Limited (NYSE:NOMD) has received an average recommendation of “Moderate Buy” from the five analysts that are covering the company, MarketBeat reports. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $17.00.

NOMD has been the subject of several recent analyst reports. BTIG Research reaffirmed a “buy” rating and issued a $18.00 target price on shares of Nomad Foods in a report on Monday, November 10th. Zacks Research raised shares of Nomad Foods from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 6th. Mizuho lowered 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, Weiss Ratings reiterated a “hold (c-)” rating on shares of Nomad Foods in a research note on Friday, October 31st.

Hedge Funds Weigh In On Nomad Foods

Several hedge funds and other institutional investors have recently bought and sold shares of NOMD. Norges Bank bought a new position in Nomad Foods during the second quarter valued at approximately $15,603,000. Meritage Portfolio Management bought a new position in shares of Nomad Foods during the 2nd quarter valued at approximately $6,599,000. Miller Howard Investments Inc. NY purchased a new position in shares of Nomad Foods in the second quarter valued at $448,000. Moody Aldrich Partners LLC increased its position in Nomad Foods by 188.1% in the third quarter. Moody Aldrich Partners LLC now owns 247,558 shares of the company’s stock worth $3,255,000 after purchasing an additional 161,623 shares during the last quarter. Finally, ABN AMRO Bank N.V. bought a new stake in Nomad Foods in the second quarter worth $6,056,000. Institutional investors own 75.26% of the company’s stock.

Nomad Foods Trading Down 1.0%

Nomad Foods stock opened at $11.92 on Friday. Nomad Foods has a 12 month low of $11.04 and a 12 month high of $20.81. The company has a market capitalization of $1.83 billion, a price-to-earnings ratio of 8.27 and a beta of 0.71. The business’s fifty day simple moving average is $12.22 and its two-hundred day simple moving average is $13.85. 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 results on Thursday, November 6th. The company reported $0.57 earnings per share (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%.Nomad Foods’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.55 EPS. As a group, equities analysts predict that Nomad Foods will post 1.82 earnings per share for the current fiscal year.

Nomad Foods Announces Dividend

The firm also recently disclosed 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 of this dividend 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 47.22%.

Nomad Foods Company Profile

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.