Brokerages Set Nomad Foods Limited (NYSE:NOMD) Target Price at $17.00

Nomad Foods Limited (NYSE:NOMD) has earned an average recommendation of “Moderate Buy” from the five brokerages that are currently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $17.00.

A number of brokerages have weighed in on NOMD. Mizuho lowered their price target on Nomad Foods from $17.00 to $15.00 and set an “outperform” rating on the stock in a research report on Thursday, January 8th. BTIG Research restated a “buy” rating and issued a $18.00 target price on shares of Nomad Foods in a research note on Monday, November 10th. Zacks Research upgraded shares of Nomad Foods from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 6th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Nomad Foods in a report on Wednesday, January 28th.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. WealthCollab LLC boosted its position in shares of Nomad Foods by 242.0% in the 4th quarter. WealthCollab LLC now owns 2,052 shares of the company’s stock worth $26,000 after purchasing an additional 1,452 shares during the last quarter. SBI Securities Co. Ltd. boosted its holdings in Nomad Foods by 469.6% during the fourth quarter. SBI Securities Co. Ltd. now owns 2,421 shares of the company’s stock worth $30,000 after buying an additional 1,996 shares during the last quarter. Johnson Financial Group Inc. bought a new position in Nomad Foods during the third quarter worth about $43,000. Mondrian Investment Partners LTD acquired a new position in shares of Nomad Foods during the 3rd quarter worth about $44,000. Finally, Osaic Holdings Inc. increased its stake in shares of Nomad Foods by 87.4% in the 2nd quarter. Osaic Holdings Inc. now owns 2,658 shares of the company’s stock valued at $45,000 after acquiring an additional 1,240 shares during the last quarter. Institutional investors own 75.26% of the company’s stock.

Nomad Foods Stock Performance

NOMD opened at $12.91 on Tuesday. The stock’s 50 day simple moving average is $12.29 and its 200-day simple moving average is $13.23. The company has a current ratio of 1.02, a quick ratio of 0.59 and a debt-to-equity ratio of 0.81. The stock has a market cap of $1.98 billion, a PE ratio of 8.97 and a beta of 0.72. Nomad Foods has a 1 year low of $11.04 and a 1 year high of $20.81.

Nomad Foods (NYSE:NOMD) last issued its earnings results on Thursday, November 6th. The company reported $0.57 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.01). The firm had revenue of $881.94 million during the quarter, compared to the consensus estimate of $760.75 million. Nomad Foods had a return on equity of 9.73% and a net margin of 6.56%.The firm’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same period last year, the business earned $0.55 earnings per share. Sell-side analysts forecast that Nomad Foods will post 1.82 EPS for the current year.

Nomad Foods Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 26th. Investors of record on Wednesday, February 11th will be given a dividend of $0.17 per share. The ex-dividend date is Wednesday, February 11th. This represents a $0.68 annualized dividend and a yield of 5.3%. Nomad Foods’s dividend payout ratio is 47.22%.

About Nomad Foods

Nomad Foods Limited is a leading frozen foods company headquartered in the United Kingdom, operating under the ticker symbol NOMD on the New York Stock Exchange. The company’s portfolio comprises well-known consumer brands such as Birds Eye, iglo, Findus, Goodfella’s and Aunt Bessie’s, covering a wide range of categories including vegetables, seafood, ready meals, pizzas and desserts. Nomad Foods focuses on delivering convenient, high-quality frozen products designed to meet evolving consumer preferences for taste, nutrition and ease of preparation.

Formed in 2015 through the acquisition of Iglo Group by investment firms Permira and Goldman Sachs Asset Management, Nomad Foods was created with the strategy of building Europe’s largest frozen foods platform.