Brokerages Set Nomad Foods Limited (NYSE:NOMD) Target Price at $18.67

Shares of Nomad Foods Limited (NYSE:NOMD) have received a consensus recommendation of “Hold” from the five analysts that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and three have issued a buy recommendation on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $18.6667.

Several equities analysts have weighed in on NOMD shares. Barclays dropped their price objective on Nomad Foods from $20.00 to $18.00 and set an “overweight” rating for the company in a report on Friday, August 8th. Mizuho decreased their price target 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. Zacks Research downgraded Nomad Foods from a “hold” rating to a “strong sell” rating in a research note on Monday, September 29th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Nomad Foods in a research report on Friday, October 31st. Finally, BTIG Research reissued a “buy” rating and issued a $18.00 target price on shares of Nomad Foods in a report on Monday, November 10th.

Institutional Investors Weigh In On Nomad Foods

A number of large investors have recently modified their holdings of the business. Boston Partners raised its holdings in shares of Nomad Foods by 40.3% during the 2nd quarter. Boston Partners now owns 14,323,433 shares of the company’s stock worth $243,276,000 after buying an additional 4,114,150 shares in the last quarter. Alliancebernstein L.P. boosted its holdings in shares of Nomad Foods by 0.4% during the 2nd quarter. Alliancebernstein L.P. now owns 7,330,537 shares of the company’s stock valued at $124,546,000 after acquiring an additional 27,177 shares in the last quarter. Polaris Capital Management LLC grew its holdings in shares of Nomad Foods by 138.8% during the third quarter. Polaris Capital Management LLC now owns 3,441,900 shares of the company’s stock worth $45,261,000 after purchasing an additional 2,000,400 shares during the last quarter. Royce & Associates LP increased its position in Nomad Foods by 45.4% in the 3rd quarter. Royce & Associates LP now owns 2,451,806 shares of the company’s stock valued at $32,241,000 after acquiring an additional 765,690 shares during the period. Finally, Ameriprise Financial Inc. increased its holdings in Nomad Foods by 46.2% in the first quarter. Ameriprise Financial Inc. now owns 1,851,199 shares of the company’s stock valued at $36,376,000 after purchasing an additional 585,054 shares during the period. Institutional investors and hedge funds own 75.26% of the company’s stock.

Nomad Foods Stock Performance

NYSE NOMD opened at $12.19 on Thursday. The firm has a 50-day moving average price of $12.39 and a two-hundred day moving average price of $15.25. Nomad Foods has a 12-month low of $11.04 and a 12-month high of $20.81. The company has a market capitalization of $1.87 billion, a P/E ratio of 8.35 and a beta of 0.69. 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) last announced 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 business had revenue of $881.94 million for the quarter, compared to the consensus estimate of $760.75 million. Nomad Foods had a return on equity of 10.26% and a net margin of 6.93%.The firm’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.55 earnings per share. Analysts anticipate that Nomad Foods will post 1.82 earnings per share for the current year.

Nomad Foods Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Monday, November 10th will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 5.6%. The ex-dividend date of this dividend is Monday, November 10th. Nomad Foods’s dividend payout ratio (DPR) is 47.22%.

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.