Nomad Foods Limited (NYSE:NOMD) Declares Quarterly Dividend of $0.17

by · The Cerbat Gem

Nomad Foods Limited (NYSE:NOMD – Get Free Report) announced a quarterly dividend on Friday, January 30th. Investors of record on Wednesday, February 11th will be given a dividend of 0.17 per share on Thursday, February 26th. This represents a c) dividend on an annualized basis and a yield of 5.3%. The ex-dividend date is Wednesday, February 11th.

Nomad Foods has a payout ratio of 29.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Nomad Foods to earn $1.95 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 34.9%.

Nomad Foods Price Performance

Nomad Foods stock traded up $0.17 on Friday, reaching $12.72. The company’s stock had a trading volume of 1,587,791 shares, compared to its average volume of 2,194,879. Nomad Foods has a twelve month low of $11.04 and a twelve month high of $20.81. The company has a market cap of $1.95 billion, a price-to-earnings ratio of 8.83 and a beta of 0.71. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.59 and a current ratio of 1.02. The business’s fifty day moving average price is $12.22 and its 200 day moving average price is $13.46.

Nomad Foods (NYSE:NOMD – Get Free Report) last issued 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). Nomad Foods had a return on equity of 9.73% and a net margin of 6.56%.The company had revenue of $881.94 million for the quarter, compared to analyst estimates of $760.75 million. During the same quarter last year, the company earned $0.55 EPS. The firm’s quarterly revenue was down 2.2% on a year-over-year basis. Equities analysts expect that Nomad Foods will post 1.82 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently weighed in on NOMD shares. Zacks Research raised shares of Nomad Foods from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 6th. Weiss Ratings reissued a “hold (c-)” rating on shares of Nomad Foods in a research note on Wednesday. Mizuho cut their price target on Nomad Foods from $17.00 to $15.00 and set an “outperform” rating on the stock in a research note on Thursday, January 8th. Finally, BTIG Research reiterated a “buy” rating and issued a $18.00 price target on shares of Nomad Foods in a report on Monday, November 10th. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, Nomad Foods currently has a consensus rating of “Moderate Buy” and an average price target of $17.00.

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Nomad Foods Company Profile

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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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