Nomad Foods (NYSE:NOMD) Hits New 52-Week Low - What's Next?

Key Points

• Nomad Foods' shares hit a new 52-week low, trading at $15.37, and faced a significant drop from a previous close of $16.71.
• Analysts have downgraded the stock, with Barclays reducing its price target from $23.00 to $20.00 and Wall Street Zen moving from a "buy" to a "hold" rating.
• The company recently announced a quarterly dividend of $0.17 per share, representing a yield of 4.3%, with a dividend payout ratio of 45.33%.

Shares of Nomad Foods Limited (NYSE:NOMD - Get Free Report) reached a new 52-week low during trading on Wednesday . The company traded as low as $15.37 and last traded at $15.80, with a volume of 563003 shares traded. The stock had previously closed at $16.71.

Wall Street Analyst Weigh In

Several research firms recently issued reports on NOMD. Barclays decreased their target price on shares of Nomad Foods from $23.00 to $20.00 and set an "overweight" rating for the company in a research note on Tuesday, July 15th. Wall Street Zen downgraded shares of Nomad Foods from a "buy" rating to a "hold" rating in a research note on Friday, May 9th. Finally, Mizuho dropped their price target on shares of Nomad Foods from $26.00 to $23.00 and set an "outperform" rating for the company in a research note on Monday, July 28th.

Nomad Foods Price Performance

The company has a quick ratio of 0.66, a current ratio of 1.06 and a debt-to-equity ratio of 0.81. The firm has a market cap of $2.44 billion, a P/E ratio of 10.62 and a beta of 0.72. The company has a 50 day moving average of $17.30 and a two-hundred day moving average of $18.28.

Nomad Foods (NYSE:NOMD - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.04). Nomad Foods had a return on equity of 10.60% and a net margin of 7.35%. The business had revenue of $822.31 million during the quarter, compared to analysts' expectations of $769.39 million. During the same period in the prior year, the company posted $0.37 earnings per share. The firm's revenue was down 3.0% on a year-over-year basis. Sell-side analysts expect 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 will be paid on Tuesday, August 26th. Shareholders of record on Monday, August 11th will be issued a $0.17 dividend. The ex-dividend date of this dividend is Monday, August 11th. This represents a $0.68 dividend on an annualized basis and a yield of 4.3%. Nomad Foods's dividend payout ratio (DPR) is 45.33%.

Institutional Trading of Nomad Foods

Several institutional investors have recently modified their holdings of the company. SG Americas Securities LLC bought a new position in Nomad Foods during the 1st quarter valued at about $530,000. Sequoia Financial Advisors LLC bought a new position in Nomad Foods in the 1st quarter valued at $196,000. Brown Advisory Inc. raised its position in Nomad Foods by 0.8% in the 1st quarter. Brown Advisory Inc. now owns 8,442,222 shares of the company's stock valued at $165,890,000 after purchasing an additional 66,060 shares during the last quarter. Vanguard Group Inc. raised its position in Nomad Foods by 3.7% in the 4th quarter. Vanguard Group Inc. now owns 933,883 shares of the company's stock valued at $15,671,000 after purchasing an additional 33,058 shares during the last quarter. Finally, Farther Finance Advisors LLC bought a new stake in shares of Nomad Foods during the first quarter worth $300,000. Institutional investors and hedge funds own 75.26% of the company's stock.

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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