Nomad Foods (NYSE:NOMD) Issues Quarterly Earnings Results, Misses Estimates By $0.01 EPS

Nomad Foods (NYSE:NOMD) announced its quarterly earnings data on Thursday. The company reported $0.57 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.01), Zacks reports. The firm had revenue of $881.94 million during 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 revenue for the quarter was down 2.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.55 earnings per share.

Nomad Foods Trading Up 0.7%

Shares of NOMD traded up $0.08 during trading hours on Friday, reaching $12.11. The stock had a trading volume of 3,735,041 shares, compared to its average volume of 1,117,465. The company has a market cap of $1.86 billion, a P/E ratio of 8.30 and a beta of 0.69. Nomad Foods has a 52 week low of $11.04 and a 52 week high of $20.81. The company has a quick ratio of 0.63, a current ratio of 1.02 and a debt-to-equity ratio of 0.81. The firm has a 50-day moving average of $12.91 and a 200 day moving average of $15.78.

Nomad Foods Dividend Announcement

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 given a $0.17 dividend. The ex-dividend date is Monday, November 10th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 5.6%. Nomad Foods’s dividend payout ratio is currently 46.58%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on NOMD shares. Zacks Research lowered shares of Nomad Foods from a “hold” rating to a “strong sell” rating in a research note on Monday, September 29th. BTIG Research reduced their price objective on shares of Nomad Foods from $20.00 to $18.00 and set a “buy” rating on the stock in a research note on Wednesday, September 17th. Barclays dropped their target price on shares of Nomad Foods from $20.00 to $18.00 and set an “overweight” rating for the company in a research report on Friday, August 8th. Mizuho cut their price target on Nomad Foods from $23.00 to $20.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 12th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Nomad Foods in a research note 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. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $18.67.

Institutional Investors Weigh In On Nomad Foods

Several large investors have recently modified their holdings of the business. Osaic Holdings Inc. raised its position in shares of 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 during the period. Cetera Investment Advisers bought a new stake in Nomad Foods during the 2nd quarter worth approximately $221,000. Headlands Technologies LLC raised its holdings in Nomad Foods by 1,342.3% during the 2nd quarter. Headlands Technologies LLC now owns 14,899 shares of the company’s stock worth $253,000 after buying an additional 13,866 shares during the period. State of Wyoming lifted its stake in Nomad Foods by 88.5% in the second quarter. State of Wyoming now owns 17,844 shares of the company’s stock valued at $303,000 after buying an additional 8,378 shares in the last quarter. Finally, Captrust Financial Advisors lifted its stake in Nomad Foods by 12.7% in the second quarter. Captrust Financial Advisors now owns 18,481 shares of the company’s stock valued at $314,000 after buying an additional 2,084 shares in the last quarter. 75.26% of the stock is currently owned by institutional investors.

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.