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

Nomad Foods Limited (NYSE:NOMD) has earned a consensus rating of “Moderate Buy” from the five research firms that are covering the company, Marketbeat reports. Two analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $17.00.

Several analysts recently issued reports on the stock. Weiss Ratings restated a “hold (c-)” rating on shares of Nomad Foods in a research report on Friday, October 31st. Mizuho cut their target price on shares of Nomad Foods from $17.00 to $15.00 and set an “outperform” rating for the company in a research note on Thursday. 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, Zacks Research raised Nomad Foods from a “strong sell” rating to a “hold” rating in a research report on Tuesday.

Hedge Funds Weigh In On Nomad Foods

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Johnson Financial Group Inc. bought a new stake in shares of Nomad Foods in the third quarter valued at about $43,000. Mondrian Investment Partners LTD purchased a new stake in Nomad Foods in the third quarter valued at about $44,000. Osaic Holdings Inc. increased 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 purchasing an additional 1,240 shares in the last quarter. Arizona PSPRS Trust acquired a new stake in Nomad Foods during the 3rd quarter worth about $121,000. Finally, Virtu Financial LLC purchased a new position in Nomad Foods during the 3rd quarter worth approximately $144,000. Institutional investors own 75.26% of the company’s stock.

Nomad Foods Trading Up 2.6%

NYSE:NOMD opened at $11.98 on Friday. The stock has a market cap of $1.84 billion, a price-to-earnings ratio of 8.32 and a beta of 0.71. The company has a quick ratio of 0.59, a current ratio of 1.02 and a debt-to-equity ratio of 0.81. Nomad Foods has a 52 week low of $11.04 and a 52 week high of $20.81. The company’s 50 day moving average price is $12.17 and its 200-day moving average price is $14.00.

Nomad Foods (NYSE:NOMD) last released 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 business had revenue of $881.94 million during the quarter, compared to the consensus estimate of $760.75 million. Nomad Foods had a return on equity of 9.73% and a net margin of 6.56%.Nomad Foods’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.55 earnings per share. On average, equities research analysts forecast that Nomad Foods will post 1.82 earnings per share for the current fiscal year.

Nomad Foods Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 26th. Stockholders of record on Monday, November 10th were issued a $0.17 dividend. The ex-dividend date was Monday, November 10th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 5.7%. Nomad Foods’s dividend 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.