Nomad Foods (NYSE:NOMD) Releases FY24 Earnings Guidance

Nomad Foods (NYSE:NOMD) updated its FY24 earnings guidance on Thursday. The company provided earnings per share guidance of €1.75 to €1.80 for the period, compared to the consensus earnings per share estimate of $1.75. The company issued revenue guidance of +3-4% yr/yr or €3.136 billion to €3.166 billion, compared to the consensus revenue estimate of $3.11 billion.

Wall Street Analyst Weigh In

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

Nomad Foods Stock Performance

Shares of NOMD stock opened at $17.85 on Thursday. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.13 and a quick ratio of 0.70. The business has a fifty day moving average of $18.98 and a 200 day moving average of $17.50. The firm has a market capitalization of $2.90 billion, a price-to-earnings ratio of 14.51 and a beta of 0.77. Nomad Foods has a 1 year low of $13.56 and a 1 year high of $20.05.

Nomad Foods (NYSE:NOMD) last released its quarterly earnings data on Thursday, February 29th. The company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.01. Nomad Foods had a net margin of 6.34% and a return on equity of 10.41%. The firm had revenue of $761.00 million for the quarter, compared to analyst estimates of $766.56 million. During the same quarter in the prior year, the business earned $0.34 earnings per share. As a group, research 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. Shareholders of record on Thursday, May 9th will be given a $0.15 dividend. The ex-dividend date is Wednesday, May 8th. This represents a $0.60 annualized dividend and a yield of 3.36%. Nomad Foods’s dividend payout ratio is presently 48.78%.

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.