Nomad Foods (NYSE:NOMD) Issues FY 2024 Earnings Guidance

Nomad Foods (NYSE:NOMD - Get Free Report) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 1.890-1.950 for the period, compared to the consensus estimate of 1.910. The company issued revenue guidance of -. Nomad Foods also updated its FY24 guidance to €1.75 to €1.80 EPS.

Nomad Foods Trading Up 6.0 %

Shares of Nomad Foods stock traded up $1.07 on Thursday, hitting $18.92. 2,479,514 shares of the company's stock traded hands, compared to its average volume of 652,458. The company has a market capitalization of $3.08 billion, a price-to-earnings ratio of 15.38 and a beta of 0.77. The company has a fifty day moving average of $18.99 and a two-hundred day moving average of $17.51. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.13 and a quick ratio of 0.70. Nomad Foods has a one year low of $13.56 and a one year high of $20.05.

Nomad Foods (NYSE:NOMD - Get Free Report) last released its quarterly earnings data on Thursday, February 29th. The company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.01. The company had revenue of $761.00 million during the quarter, compared to analyst estimates of $766.56 million. Nomad Foods had a net margin of 6.34% and a return on equity of 10.41%. During the same quarter in the previous year, the business posted $0.34 EPS. As a group, sell-side analysts expect that Nomad Foods will post 1.91 earnings per share for the current year.

Nomad Foods Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 28th. Stockholders of record on Thursday, May 9th will be given a dividend of $0.15 per share. The ex-dividend date is Wednesday, May 8th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.17%. Nomad Foods's dividend payout ratio (DPR) is presently 48.78%.

Analysts Set New Price Targets

Separately, Barclays increased their price target on Nomad Foods from $20.00 to $22.00 and gave the stock an overweight rating in a report on Friday, February 2nd.

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.