Brokerages Set Nomad Foods Limited (NYSE:NOMD) Target Price at $18.67

by · The Cerbat Gem

Shares of Nomad Foods Limited (NYSE:NOMD – Get Free Report) have been assigned an average rating of “Hold” from the five analysts that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $18.6667.

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

Read Our Latest Stock Analysis on Nomad Foods

Nomad Foods Trading Down 0.7%

Nomad Foods stock opened at $12.80 on Monday. 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 has a 12 month low of $11.04 and a 12 month high of $20.81. The stock’s 50 day simple moving average is $12.06 and its two-hundred day simple moving average is $14.44. The firm has a market cap of $1.96 billion, a PE ratio of 8.89 and a beta of 0.73.

Nomad Foods (NYSE:NOMD – Get Free Report) last released its earnings results on Thursday, November 6th. The company reported $0.57 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.01). The firm had revenue of $881.94 million during the quarter, compared to analysts’ expectations of $760.75 million. Nomad Foods had a net margin of 6.56% and a return on equity of 9.73%. The business’s revenue was down 2.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.55 EPS. Analysts anticipate that Nomad Foods will post 1.82 earnings per share for the current year.

Nomad Foods Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Monday, November 10th were paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 5.3%. The ex-dividend date was Monday, November 10th. Nomad Foods’s payout ratio is currently 47.22%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Summit Securities Group LLC acquired a new position in Nomad Foods in the 1st quarter worth $32,000. 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 acquired a new position in shares of Nomad Foods during the third quarter worth about $44,000. Osaic Holdings Inc. grew its holdings in shares of Nomad Foods by 87.4% during the second quarter. Osaic Holdings Inc. now owns 2,658 shares of the company’s stock worth $45,000 after buying an additional 1,240 shares in the last quarter. Finally, Arizona PSPRS Trust acquired a new stake in Nomad Foods in the 3rd quarter valued at approximately $121,000. Institutional investors and hedge funds own 75.26% of the company’s stock.

About Nomad Foods

(Get Free Report)

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.

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