Nomad Foods (NYSE:NOMD) Issues FY24 Earnings Guidance

Nomad Foods (NYSE:NOMD) updated its FY24 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of €1.72-1.77 for the period, compared to the consensus 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 research analysts have commented on NOMD shares. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Nomad Foods from $25.00 to $23.00 and set a “buy” rating for the company in a research note on Monday, November 4th. StockNews.com downgraded Nomad Foods from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Finally, Barclays reduced their price target on shares of Nomad Foods from $22.00 to $21.00 and set an “overweight” rating for the company in a report on Friday, July 19th.

Nomad Foods Stock Up 5.8 %

Shares of NYSE:NOMD traded up $0.94 during trading on Thursday, reaching $17.19. The stock had a trading volume of 546,042 shares, compared to its average volume of 590,821. The company has a current ratio of 1.17, a quick ratio of 0.73 and a debt-to-equity ratio of 0.80. The company has a market capitalization of $2.80 billion, a P/E ratio of 12.99 and a beta of 0.79. The firm’s 50-day simple moving average is $18.24 and its 200 day simple moving average is $17.99. Nomad Foods has a one year low of $15.76 and a one year high of $20.05.

Nomad Foods Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Friday, November 8th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.49%. The ex-dividend date is Friday, November 8th. Nomad Foods’s payout ratio is presently 44.44%.

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.