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

Key Points

• Nomad Foods Limited has received a consensus recommendation of "Moderate Buy" from analysts, with four out of five brokerages issuing buy ratings and one rating it as a sell.
• Notable price target adjustments include a reduction from BTIG Research to $18.00 and from Mizuho to $20.00, while Barclays maintains a target at $18.00.
• The company recently paid a quarterly dividend of $0.17 per share, translating to a 5.2% annualized yield with a payout ratio of 46.58%.

Nomad Foods Limited (NYSE:NOMD - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the five brokerages that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $19.75.

Several analysts have commented on NOMD shares. BTIG Research reduced their price objective on Nomad Foods from $20.00 to $18.00 and set a "buy" rating for the company in a research note on Wednesday, September 17th. Mizuho reduced their price objective on Nomad Foods from $23.00 to $20.00 and set an "outperform" rating for the company in a research note on Tuesday, August 12th. Zacks Research downgraded Nomad Foods from a "hold" rating to a "strong sell" rating in a research note on Monday. Finally, Barclays cut their target price on Nomad Foods from $20.00 to $18.00 and set an "overweight" rating for the company in a research note on Friday, August 8th.

Hedge Funds Weigh In On Nomad Foods

A number of large investors have recently modified their holdings of NOMD. Public Employees Retirement System of Ohio purchased a new position in shares of Nomad Foods during the 4th quarter worth approximately $763,000. GAMMA Investing LLC increased its stake in Nomad Foods by 2,002.9% in the 1st quarter. GAMMA Investing LLC now owns 14,973 shares of the company's stock valued at $294,000 after purchasing an additional 14,261 shares in the last quarter. Congress Asset Management Co. purchased a new position in Nomad Foods in the 1st quarter valued at approximately $7,383,000. Fenimore Asset Management Inc increased its stake in Nomad Foods by 0.9% in the 1st quarter. Fenimore Asset Management Inc now owns 1,044,764 shares of the company's stock valued at $20,530,000 after purchasing an additional 9,720 shares in the last quarter. Finally, Farther Finance Advisors LLC purchased a new position in Nomad Foods in the 1st quarter valued at approximately $300,000. 75.26% of the stock is owned by hedge funds and other institutional investors.

Nomad Foods Trading Up 1.4%

NYSE:NOMD opened at $13.15 on Wednesday. The stock has a 50-day simple moving average of $15.15 and a 200-day simple moving average of $17.23. The stock has a market cap of $2.02 billion, a P/E ratio of 9.01 and a beta of 0.70. Nomad Foods has a 1 year low of $12.89 and a 1 year high of $20.81. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.63 and a current ratio of 1.02.

Nomad Foods (NYSE:NOMD - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.45 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 the consensus estimate of $762.81 million. Nomad Foods had a return on equity of 10.26% and a net margin of 6.93%.The firm's revenue was down .8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.44 EPS. As a group, analysts anticipate that Nomad Foods will post 1.82 earnings per share for the current fiscal year.

Nomad Foods Dividend Announcement

The firm also recently announced 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. This represents a $0.68 dividend on an annualized basis and a dividend yield of 5.2%. The ex-dividend date of this dividend was Monday, August 11th. Nomad Foods's dividend payout ratio is 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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