Nomad Foods (NYSE:NOMD) Given Buy Rating at BTIG Research

BTIG Research reaffirmed their buy rating on shares of Nomad Foods (NYSE:NOMD) in a report published on Monday morning,Benzinga reports. The brokerage currently has a $18.00 price objective on the stock.

A number of other research analysts have also issued reports on the company. Zacks Research lowered Nomad Foods from a “hold” rating to a “strong sell” rating in a report on Monday, September 29th. Barclays cut their price target on Nomad Foods from $20.00 to $18.00 and set an “overweight” rating on the stock in a report on Friday, August 8th. Mizuho decreased their price objective on Nomad Foods from $23.00 to $20.00 and set an “outperform” rating for the company in a research note on Tuesday, August 12th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Nomad Foods in a research report on Friday, October 31st. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Nomad Foods currently has a consensus rating of “Hold” and an average target price of $18.67.

Nomad Foods Trading Down 2.1%

Shares of NOMD stock opened at $11.86 on Monday. Nomad Foods has a fifty-two week low of $11.04 and a fifty-two week high of $20.81. The company has a 50 day moving average price of $12.83 and a 200 day moving average price of $15.70. The stock has a market capitalization of $1.82 billion, a P/E ratio of 8.12 and a beta of 0.69. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.63 and a current ratio of 1.02.

Nomad Foods (NYSE:NOMD) last released its earnings results on Thursday, November 6th. The company reported $0.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.01). The business had revenue of $881.94 million for the quarter, compared to analyst estimates of $760.75 million. Nomad Foods had a return on equity of 10.26% and a net margin of 6.93%.Nomad Foods’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.55 earnings per share. Equities research analysts predict that Nomad Foods will post 1.82 EPS for the current fiscal year.

Nomad Foods Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Monday, November 10th will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 5.7%. The ex-dividend date of this dividend is Monday, November 10th. Nomad Foods’s payout ratio is 47.22%.

Institutional Investors Weigh In On Nomad Foods

Several hedge funds and other institutional investors have recently made changes to their positions in NOMD. Summit Securities Group LLC acquired a new position in Nomad Foods in the first quarter valued at approximately $32,000. Osaic Holdings Inc. raised its holdings in Nomad Foods by 87.4% during the second quarter. Osaic Holdings Inc. now owns 2,658 shares of the company’s stock worth $45,000 after purchasing an additional 1,240 shares in the last quarter. Mondrian Investment Partners LTD purchased a new stake in shares of Nomad Foods during the 3rd quarter worth approximately $44,000. State of Wyoming boosted its holdings in shares of Nomad Foods by 56.6% in the 1st quarter. State of Wyoming now owns 9,466 shares of the company’s stock valued at $186,000 after buying an additional 3,421 shares in the last quarter. Finally, Sciencast Management LP acquired a new position in shares of Nomad Foods in the 1st quarter valued at $196,000. Institutional investors and hedge funds own 75.26% of the company’s stock.

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.