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

Key Points

• Nomad Foods limited hit a new 52-week low of $11.83 on Thursday, closing at $11.89 with a trading volume of over 2.6 million shares.
• Analysts have issued mixed ratings for Nomad Foods, with Zacks Research downgrading it to "strong sell" while Mizuho set a new price objective of $20.00, reflecting the stock's moderate buy status.
• The company posted a quarterly EPS of $0.45, slightly beating analysts’ expectations, and announced a quarterly dividend yielding 5.7% with a payout ratio of 46.58%.

Nomad Foods Limited (NYSE:NOMD - Get Free Report) hit a new 52-week low on Thursday . The stock traded as low as $11.83 and last traded at $11.89, with a volume of 2629164 shares. The stock had previously closed at $12.12.

Analyst Upgrades and Downgrades

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

Nomad Foods Trading Down 1.9%

The business's 50-day moving average price is $13.80 and its two-hundred day moving average price is $16.46. 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 firm has a market cap of $1.82 billion, a price-to-earnings ratio of 8.14 and a beta of 0.70.

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 analysts' consensus estimates of $0.44 by $0.01. The company had revenue of $879.27 million during the quarter, compared to the consensus estimate of $762.81 million. Nomad Foods had a net margin of 6.93% and a return on equity of 10.26%. The company's quarterly revenue was down .8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.44 EPS. Equities analysts expect that Nomad Foods Limited will post 1.82 earnings per share for the current year.

Nomad Foods Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 26th. Shareholders of record on Monday, August 11th were given a $0.17 dividend. The ex-dividend date of this dividend was Monday, August 11th. This represents a $0.68 annualized dividend and a yield of 5.7%. Nomad Foods's dividend payout ratio (DPR) is 46.58%.

Institutional Trading of Nomad Foods

A number of hedge funds have recently made changes to their positions in NOMD. Sequoia Financial Advisors LLC acquired a new position in Nomad Foods in the first quarter worth about $196,000. Brown Advisory Inc. boosted its stake in Nomad Foods by 0.8% in the first quarter. Brown Advisory Inc. now owns 8,442,222 shares of the company's stock valued at $165,890,000 after acquiring an additional 66,060 shares during the period. Entropy Technologies LP acquired a new position in Nomad Foods during the 1st quarter valued at approximately $405,000. Townsend & Associates Inc boosted its position in Nomad Foods by 1.8% during the 1st quarter. Townsend & Associates Inc now owns 1,617,466 shares of the company's stock valued at $31,783,000 after purchasing an additional 28,414 shares during the period. Finally, Ameriprise Financial Inc. boosted its holdings in shares of Nomad Foods by 46.2% during the first quarter. Ameriprise Financial Inc. now owns 1,851,199 shares of the company's stock valued at $36,376,000 after acquiring an additional 585,054 shares during the period. 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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