Nomad Foods (NYSE:NOMD) Hits New 1-Year Low - Should You Sell?

Key Points

• Nomad Foods (NYSE:NOMD) has reached a new **52-week low**, trading at **$12.83**, down from a previous close of **$13.09**.
• While several analysts have rated Nomad Foods, **Zacks downgraded** the stock to a **"strong sell"**, contrasting with some **buy ratings** from others, resulting in a consensus rating of **"Moderate Buy"** with a target price of **$19.75**.
• The company recently announced a **quarterly dividend** of **$0.17 per share**, equating to an annual yield of **5.3%**, with a payout ratio of **46.58%**.

Nomad Foods Limited (NYSE:NOMD - Get Free Report) reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $12.83 and last traded at $12.84, with a volume of 278573 shares. The stock had previously closed at $13.09.

Analyst Ratings Changes

NOMD has been the topic of a number of analyst reports. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Nomad Foods in a report on Saturday, September 27th. BTIG Research decreased their price target on Nomad Foods from $20.00 to $18.00 and set a "buy" rating on the stock in a research note on Wednesday, September 17th. Zacks Research downgraded Nomad Foods from a "hold" rating to a "strong sell" rating in a report on Monday, September 29th. Barclays cut their price target on shares of Nomad Foods from $20.00 to $18.00 and set an "overweight" rating for the company in a report on Friday, August 8th. Finally, Mizuho decreased their price objective on shares of Nomad Foods from $23.00 to $20.00 and set an "outperform" rating on the stock in a report on Tuesday, August 12th. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $19.75.

Nomad Foods Trading Down 2.3%

The stock has a market cap of $1.96 billion, a price-to-earnings ratio of 8.76 and a beta of 0.70. The business has a fifty day simple moving average of $14.86 and a 200 day simple moving average of $17.07. 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 issued its quarterly earnings data 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 business had revenue of $879.27 million for 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 business's revenue was down .8% on a year-over-year basis. During the same period in the prior year, the business earned $0.44 earnings per share. As a group, equities analysts anticipate that Nomad Foods Limited will post 1.82 EPS for the current year.

Nomad Foods Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 26th. Investors of record on Monday, August 11th were given a dividend of $0.17 per share. The ex-dividend date was Monday, August 11th. This represents a $0.68 annualized dividend and a yield of 5.3%. Nomad Foods's dividend payout ratio is 46.58%.

Hedge Funds Weigh In On Nomad Foods

Institutional investors and hedge funds have recently bought and sold shares of the stock. Summit Securities Group LLC purchased a new position in Nomad Foods during the first quarter worth approximately $32,000. Osaic Holdings Inc. raised its position in shares of Nomad Foods by 87.4% in the 2nd quarter. Osaic Holdings Inc. now owns 2,658 shares of the company's stock worth $45,000 after buying an additional 1,240 shares during the period. State of Wyoming raised its position in shares of Nomad Foods by 56.6% in the 1st quarter. State of Wyoming now owns 9,466 shares of the company's stock worth $186,000 after buying an additional 3,421 shares during the period. Sequoia Financial Advisors LLC purchased a new stake in Nomad Foods during the first quarter valued at about $196,000. Finally, Sciencast Management LP purchased a new stake in Nomad Foods during the first quarter valued at about $196,000. Institutional investors and hedge funds own 75.26% of the company's stock.

Nomad Foods Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.