Nomad Foods (NYSE:NOMD) Reaches New 12-Month Low - Time to Sell?

Key Points

• Nomad Foods' stock hit a new 52-week low at $12.89 during trading, with recent analysts cutting their price targets and maintaining a general "buy" rating.
• The company reported earnings of $0.45 per share, exceeding analyst predictions, but revenue decreased by 0.8% compared to the previous year.
• Nomad Foods announced a quarterly dividend of $0.17 per share, offering an annualized yield of 5.2%, and institutional investors own over 75% of the company's stock.

Nomad Foods Limited (NYSE:NOMD - Get Free Report)'s share price hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $12.89 and last traded at $12.96, with a volume of 327836 shares. The stock had previously closed at $12.97.

Wall Street Analysts Forecast Growth

NOMD has been the topic of a number of research reports. BTIG Research dropped their target price on shares of Nomad Foods from $20.00 to $18.00 and set a "buy" rating on the stock in a research report on Wednesday, September 17th. Mizuho decreased their target price 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. Finally, Barclays cut 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 investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $19.75.

Nomad Foods Trading Up 1.2%

The company has a market cap of $2.01 billion, a price-to-earnings ratio of 9.00 and a beta of 0.70. The company's fifty day moving average price is $15.25 and its two-hundred day moving average price is $17.26. The company has a quick ratio of 0.63, a current ratio of 1.02 and a debt-to-equity ratio of 0.81.

Nomad Foods (NYSE:NOMD - Get Free Report) last posted 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. The business 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%. Nomad Foods's revenue for the quarter was down .8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.44 earnings per share. Research 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. Investors of record on Monday, August 11th were issued a dividend of $0.17 per share. The ex-dividend date was Monday, August 11th. This represents a $0.68 dividend on an annualized basis and a yield of 5.2%. Nomad Foods's payout ratio is currently 46.58%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in NOMD. Squarepoint Ops LLC acquired a new position in shares of Nomad Foods in the fourth quarter valued at approximately $811,000. Public Employees Retirement System of Ohio acquired a new position in shares of Nomad Foods in the fourth quarter valued at approximately $763,000. GAMMA Investing LLC boosted its holdings in shares of Nomad Foods by 2,002.9% in the first quarter. GAMMA Investing LLC now owns 14,973 shares of the company's stock valued at $294,000 after buying an additional 14,261 shares during the period. Congress Asset Management Co. acquired a new position in Nomad Foods during the first quarter worth $7,383,000. Finally, Fenimore Asset Management Inc boosted its holdings in Nomad Foods by 0.9% during the first quarter. Fenimore Asset Management Inc now owns 1,044,764 shares of the company's stock worth $20,530,000 after purchasing an additional 9,720 shares during the last quarter. 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.