Nomad Foods (NYSE:NOMD) Hits New 12-Month Low - Here's What Happened

Key Points

• Nomad Foods' stock hit a new 52-week low of $13.58, with a recent trading price of $13.77 and a trading volume of over 1.27 million shares.
• Several analysts downgraded their target price for Nomad Foods, with Barclays reducing it to $18.00 and Mizuho to $20.00, while the stock maintains a consensus rating of "Buy" and a target price of $20.33.
• The company reported quarterly earnings of $0.45 per share, exceeding estimates, with a revenue of $879.27 million, although down by 0.8% year-over-year.

Nomad Foods Limited (NYSE:NOMD - Get Free Report)'s stock price reached a new 52-week low on Wednesday . The stock traded as low as $13.58 and last traded at $13.77, with a volume of 1276267 shares traded. The stock had previously closed at $13.66.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on NOMD shares. Barclays decreased their target price on Nomad Foods from $20.00 to $18.00 and set an "overweight" rating for the company in a research report on Friday, August 8th. Mizuho decreased their target price on Nomad Foods from $23.00 to $20.00 and set an "outperform" rating for the company in a research report on Tuesday, August 12th. Three analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Nomad Foods currently has a consensus rating of "Buy" and a consensus target price of $20.33.

Nomad Foods Stock Up 0.8%

The firm has a market capitalization of $2.11 billion, a P/E ratio of 9.43 and a beta of 0.70. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.63 and a current ratio of 1.02. The business's fifty day moving average price is $15.99 and its two-hundred day moving average price is $17.70.

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

Nomad Foods Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 26th. Investors of record on Monday, August 11th were given a $0.17 dividend. The ex-dividend date was Monday, August 11th. This represents a $0.68 dividend on an annualized basis and a yield of 4.9%. Nomad Foods's dividend payout ratio is currently 46.58%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of NOMD. Summit Securities Group LLC acquired a new position in shares of Nomad Foods during the 1st quarter worth approximately $32,000. Osaic Holdings Inc. raised its stake in shares of Nomad Foods by 87.4% during 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. Lazard Asset Management LLC acquired a new position in Nomad Foods in the 4th quarter valued at $134,000. State of Wyoming raised its stake in Nomad Foods by 56.6% in the 1st quarter. State of Wyoming now owns 9,466 shares of the company's stock valued at $186,000 after purchasing an additional 3,421 shares during the last quarter. Finally, Sequoia Financial Advisors LLC acquired a new position in Nomad Foods in the 1st quarter valued at $196,000. 75.26% of the stock is owned by institutional investors and hedge funds.

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.

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.