Nomad Foods Limited to Issue Quarterly Dividend of $0.15 (NYSE:NOMD)

Nomad Foods Limited (NYSE:NOMD) declared a quarterly dividend on Tuesday, July 30th, NASDAQ reports. Stockholders of record on Saturday, August 10th will be paid a dividend of 0.15 per share on Monday, August 26th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date is Friday, August 9th.

Nomad Foods has a dividend payout ratio of 28.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect Nomad Foods to earn $2.09 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 28.7%.

Nomad Foods Trading Up 3.5 %

Shares of NYSE:NOMD traded up $0.64 on Wednesday, hitting $19.11. 494,367 shares of the company’s stock were exchanged, compared to its average volume of 635,443. Nomad Foods has a 12 month low of $13.56 and a 12 month high of $20.05. The stock has a market capitalization of $3.11 billion, a price-to-earnings ratio of 15.39 and a beta of 0.79. The business’s 50 day simple moving average is $17.32 and its two-hundred day simple moving average is $18.11. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.14 and a quick ratio of 0.73.

Nomad Foods (NYSE:NOMD) last released its quarterly earnings data on Thursday, May 9th. The company reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.01). The business had revenue of $850.90 million during the quarter, compared to analyst estimates of $858.61 million. Nomad Foods had a return on equity of 9.68% and a net margin of 6.10%. Analysts anticipate that Nomad Foods will post 1.9 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have commented on NOMD. Mizuho boosted their target price on shares of Nomad Foods from $26.00 to $28.00 and gave the stock a “buy” rating in a research report on Friday, May 10th. Barclays lowered their price objective on shares of Nomad Foods from $22.00 to $21.00 and set an “overweight” rating for the company in a research note on Friday, July 19th.

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.