Nomad Foods (NYSE:NOMD) Posts Earnings Results, Misses Expectations By $0.01 EPS

Nomad Foods (NYSE:NOMD) issued its earnings results on Thursday. The company reported $0.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.01), Zacks reports. Nomad Foods had a return on equity of 10.26% and a net margin of 6.93%.The firm had revenue of $881.94 million during the quarter, compared to analysts’ expectations of $760.75 million. During the same quarter last year, the business earned $0.55 EPS. The business’s revenue was down 2.2% on a year-over-year basis.

Nomad Foods Price Performance

Shares of Nomad Foods stock 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 stock’s 50 day moving average is $12.91 and its 200 day moving average is $15.78. The company has a current ratio of 1.02, a quick ratio of 0.63 and a debt-to-equity ratio of 0.81. Nomad Foods has a twelve month low of $11.04 and a twelve month high of $20.81. The firm has a market capitalization of $1.86 billion, a PE ratio of 8.30 and a beta of 0.69.

Nomad Foods Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Monday, November 10th will be issued a $0.17 dividend. The ex-dividend date of this dividend is Monday, November 10th. This represents a $0.68 dividend on an annualized basis and a yield of 5.6%. Nomad Foods’s payout ratio is presently 46.58%.

Hedge Funds Weigh In On Nomad Foods

A number of large investors have recently bought and sold shares of the business. Tidal Investments LLC raised its position in shares of Nomad Foods by 1.9% in the second quarter. Tidal Investments LLC now owns 38,037 shares of the company’s stock valued at $646,000 after buying an additional 726 shares during the last quarter. California Public Employees Retirement System boosted its position in Nomad Foods by 0.4% during the second quarter. California Public Employees Retirement System now owns 268,627 shares of the company’s stock worth $4,564,000 after acquiring an additional 1,044 shares during the last quarter. Osaic Holdings Inc. grew its stake in Nomad Foods by 87.4% during 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 in the last quarter. Nebula Research & Development LLC raised its holdings in Nomad Foods by 4.4% in the 2nd quarter. Nebula Research & Development LLC now owns 35,152 shares of the company’s stock valued at $597,000 after acquiring an additional 1,481 shares during the last quarter. Finally, Captrust Financial Advisors lifted its stake in Nomad Foods by 12.7% in the 2nd quarter. Captrust Financial Advisors now owns 18,481 shares of the company’s stock worth $314,000 after purchasing an additional 2,084 shares in the last quarter. Institutional investors and hedge funds own 75.26% of the company’s stock.

Analysts Set New Price Targets

NOMD has been the topic of several research analyst reports. BTIG Research dropped their price target on Nomad Foods from $20.00 to $18.00 and set a “buy” rating on the stock in a research note on Wednesday, September 17th. Zacks Research lowered Nomad Foods from a “hold” rating to a “strong sell” rating in a research report on Monday, September 29th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Nomad Foods in a report on Friday, October 31st. Barclays decreased their price objective on shares of Nomad Foods from $20.00 to $18.00 and set an “overweight” rating for the company in a research note on Friday, August 8th. Finally, Mizuho dropped their price objective on shares of Nomad Foods from $23.00 to $20.00 and set an “outperform” rating on the stock in a report on Tuesday, August 12th. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $18.67.

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.