Nomad Foods (NYSE:NOMD) Issues FY24 Earnings Guidance

Nomad Foods (NYSE:NOMD) issued an update on its FY24 earnings guidance on Thursday morning. The company provided EPS guidance of €1.72-1.77 for the period, compared to the consensus EPS estimate of $1.76. The company issued revenue guidance of +1-2% yr/yr to ~€3.08-3.11, compared to the consensus revenue estimate of $3.12 billion. Nomad Foods also updated its FY 2024 guidance to 1.890-1.945 EPS.

Analyst Ratings Changes

Several equities analysts recently weighed in on NOMD shares. StockNews.com downgraded shares of Nomad Foods from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Barclays dropped their price objective on shares of Nomad Foods from $22.00 to $21.00 and set an “overweight” rating on the stock in a report on Friday, July 19th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of Nomad Foods from $25.00 to $23.00 and set a “buy” rating for the company in a report on Monday, November 4th.

Nomad Foods Stock Performance

NOMD stock traded up $0.94 during trading on Thursday, hitting $17.19. 546,042 shares of the company traded hands, compared to its average volume of 590,821. Nomad Foods has a 1 year low of $15.76 and a 1 year high of $20.05. The company has a market cap of $2.80 billion, a PE ratio of 12.99 and a beta of 0.79. The stock’s 50-day simple moving average is $18.24 and its 200 day simple moving average is $17.99. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.17 and a quick ratio of 0.73.

Nomad Foods Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Friday, November 8th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 3.49%. The ex-dividend date of this dividend is Friday, November 8th. Nomad Foods’s dividend payout ratio (DPR) is 44.44%.

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.