Nomad Foods (NYSE:NOMD) Sees Unusually-High Trading Volume After Strong Earnings

Key Points

• Nomad Foods experienced a significant surge in trading volume, with approximately 1.67 million shares traded—an increase of 110% following its stronger-than-expected earnings report.
• The company reported an EPS of $0.45, slightly surpassing analysts' expectations of $0.44, and achieved revenue of $879.27 million, exceeding forecasts by over $116 million.
• Nomad Foods plans to distribute a quarterly dividend of $0.17 on August 26th, representing a yield of 4.3% and a payout ratio of 45.33%.

Shares of Nomad Foods Limited (NYSE:NOMD - Get Free Report) saw unusually-strong trading volume on Thursday following a stronger than expected earnings report. Approximately 1,670,896 shares changed hands during trading, an increase of 110% from the previous session's volume of 795,254 shares.The stock last traded at $15.12 and had previously closed at $15.28.

The company reported $0.45 EPS for the quarter, topping analysts' consensus estimates of $0.44 by $0.01. The firm had revenue of $879.27 million for the quarter, compared to analyst estimates of $762.81 million. Nomad Foods had a net margin of 7.35% and a return on equity of 10.60%. The firm's revenue was down .8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.44 EPS.

Nomad Foods Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 26th. Investors of record on Monday, August 11th will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 4.3%. The ex-dividend date is Monday, August 11th. Nomad Foods's dividend payout ratio is currently 45.33%.

Analyst Ratings Changes

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

Institutional Investors Weigh In On Nomad Foods

Institutional investors have recently made changes to their positions in the business. Boston Partners grew its position in Nomad Foods by 11.1% during the 1st quarter. Boston Partners now owns 10,209,283 shares of the company's stock valued at $200,615,000 after purchasing an additional 1,019,957 shares during the last quarter. Brown Advisory Inc. raised its holdings in Nomad Foods by 0.8% in the 1st quarter. Brown Advisory Inc. now owns 8,442,222 shares of the company's stock worth $165,890,000 after acquiring an additional 66,060 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in Nomad Foods by 3.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 6,824,222 shares of the company's stock valued at $134,096,000 after acquiring an additional 254,314 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its stake in Nomad Foods by 2.1% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 4,176,211 shares of the company's stock valued at $70,077,000 after purchasing an additional 86,897 shares during the last quarter. Finally, Victory Capital Management Inc. increased its holdings in shares of Nomad Foods by 17.3% in the 1st quarter. Victory Capital Management Inc. now owns 2,724,866 shares of the company's stock worth $53,544,000 after purchasing an additional 402,599 shares in the last quarter. Hedge funds and other institutional investors own 75.26% of the company's stock.

Nomad Foods Stock Up 3.0%

The stock has a market cap of $2.41 billion, a PE ratio of 10.49 and a beta of 0.72. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.06 and a quick ratio of 0.66. The company has a 50 day moving average price of $17.26 and a two-hundred day moving average price of $18.26.

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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