Nomad Foods (NYSE:NOMD) Reaches New 1-Year Low - What's Next?

Key Points

• Nomad Foods' stock price experienced a decline, reaching a new 52-week low of $13.14 during trading, marking a downturn from its previous close of $13.36.
• Analysts have downgraded Nomad Foods' price targets, with BTIG Research and Barclays both reducing their targets from $20.00 to $18.00, while Mizuho lowered theirs from $23.00 to $20.00.
• The company announced a quarterly dividend of $0.17 per share, resulting in an annualized yield of 5.1% and a payout ratio of 46.58%.

Nomad Foods Limited (NYSE:NOMD - Get Free Report)'s stock price reached a new 52-week low during trading on Tuesday . The company traded as low as $13.14 and last traded at $13.23, with a volume of 1315862 shares. The stock had previously closed at $13.36.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on NOMD shares. BTIG Research cut their price target on Nomad Foods from $20.00 to $18.00 and set a "buy" rating on the stock in a report on Wednesday, September 17th. Barclays lowered their price target on Nomad Foods from $20.00 to $18.00 and set an "overweight" rating on the stock in a research report on Friday, August 8th. Finally, Mizuho lowered their price target on Nomad Foods from $23.00 to $20.00 and set an "outperform" rating on the stock in a research report on Tuesday, August 12th. Four analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $19.75.

Nomad Foods Stock Down 1.0%

The firm has a market cap of $2.03 billion, a PE ratio of 9.06 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. The business has a fifty day moving average price of $15.68 and a two-hundred day moving average price of $17.49.

Nomad Foods (NYSE:NOMD - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.44 by $0.01. The firm had revenue of $879.27 million during the quarter, compared to analysts' expectations 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 for the quarter was down .8% on a year-over-year basis. During the same quarter last year, the firm earned $0.44 earnings per share. On average, analysts anticipate that Nomad Foods Limited will post 1.82 EPS for the current fiscal year.

Nomad Foods Announces Dividend

The company also recently disclosed 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 of this dividend was Monday, August 11th. This represents a $0.68 dividend on an annualized basis and a yield of 5.1%. Nomad Foods's dividend payout ratio (DPR) is presently 46.58%.

Institutional Trading of Nomad Foods

Institutional investors have recently bought and sold shares of the company. Boston Partners lifted its position in shares of Nomad Foods by 40.3% in the second quarter. Boston Partners now owns 14,323,433 shares of the company's stock worth $243,276,000 after buying an additional 4,114,150 shares during the last quarter. Norges Bank acquired a new stake in shares of Nomad Foods in the second quarter worth about $15,603,000. Qube Research & Technologies Ltd lifted its position in shares of Nomad Foods by 164.1% in the second quarter. Qube Research & Technologies Ltd now owns 1,195,533 shares of the company's stock worth $20,312,000 after buying an additional 742,813 shares during the last quarter. Ameriprise Financial Inc. lifted its position in shares of Nomad Foods by 46.2% in the first quarter. Ameriprise Financial Inc. now owns 1,851,199 shares of the company's stock worth $36,376,000 after buying an additional 585,054 shares during the last quarter. Finally, Hennessy Advisors Inc. acquired a new stake in shares of Nomad Foods in the second quarter worth about $8,617,000. 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.

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.