Nomad Foods Limited (NYSE:NOMD) Given Average Recommendation of "Moderate Buy" by Brokerages

Nomad Foods Limited (NYSE:NOMD - Get Free Report) has earned a consensus rating of "Moderate Buy" from the six research firms that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $19.75.

A number of equities research analysts have recently issued reports on the stock. Zacks Research downgraded shares of Nomad Foods from a "hold" rating to a "strong sell" rating in a research report on Monday, September 29th. Mizuho decreased their price target on shares of Nomad Foods from $23.00 to $20.00 and set an "outperform" rating on the stock in a research note on Tuesday, August 12th. Barclays reduced their target price on shares of Nomad Foods from $20.00 to $18.00 and set an "overweight" rating on the stock in a report on Friday, August 8th. Weiss Ratings reiterated a "hold (c)" rating on shares of Nomad Foods in a report on Wednesday, October 8th. Finally, BTIG Research cut their price target on shares of Nomad Foods from $20.00 to $18.00 and set a "buy" rating on the stock in a report on Wednesday, September 17th.

Hedge Funds Weigh In On Nomad Foods

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vontobel Holding Ltd. boosted its stake in shares of Nomad Foods by 3.5% during the second quarter. Vontobel Holding Ltd. now owns 20,417 shares of the company's stock valued at $347,000 after purchasing an additional 688 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its stake in shares of Nomad Foods by 2.4% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 30,048 shares of the company's stock worth $511,000 after buying an additional 690 shares during the period. Tidal Investments LLC lifted its position in Nomad Foods by 1.9% during the second quarter. Tidal Investments LLC now owns 38,037 shares of the company's stock valued at $646,000 after purchasing an additional 726 shares during the period. Factorial Partners LLC lifted its position in Nomad Foods by 0.5% during the first quarter. Factorial Partners LLC now owns 192,100 shares of the company's stock valued at $3,775,000 after purchasing an additional 1,000 shares during the period. Finally, California Public Employees Retirement System increased its holdings in Nomad Foods by 0.4% in the second quarter. California Public Employees Retirement System now owns 268,627 shares of the company's stock valued at $4,564,000 after buying an additional 1,044 shares in the last quarter. 75.26% of the stock is currently owned by institutional investors.

Nomad Foods Stock Performance

Shares of NOMD opened at $11.83 on Friday. The company has a 50-day simple moving average of $13.67 and a two-hundred day simple moving average of $16.35. Nomad Foods has a one year low of $11.81 and a one year high of $20.81. The firm has a market capitalization of $1.82 billion, a PE ratio of 8.11 and a beta of 0.70. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.02 and a quick ratio of 0.63.

Nomad Foods (NYSE:NOMD - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.01. The firm had revenue of $879.27 million during the quarter, compared to analyst estimates of $762.81 million. Nomad Foods had a net margin of 6.93% and a return on equity of 10.26%. The business's revenue was down .8% on a year-over-year basis. During the same period last year, the business earned $0.44 earnings per share. On average, analysts anticipate that Nomad Foods will post 1.82 EPS for the current fiscal year.

Nomad Foods Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 26th. Stockholders of record on Monday, August 11th were paid a dividend of $0.17 per share. The ex-dividend date was Monday, August 11th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 5.7%. Nomad Foods's dividend payout ratio (DPR) is currently 46.58%.

About Nomad Foods

Nomad Foods Limited, together with its subsidiaries, manufactures, markets, and distributes a range of frozen food products in the United Kingdom and internationally. The company offers frozen fish products, including fish fingers, coated fish, and natural fish; ready-to-cook vegetable products, such as peas and spinach; and frozen poultry and meat products comprising nuggets, grills, and burgers.

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