Nomad Foods Limited (NYSE:NOMD) Declares $0.15 Quarterly Dividend

Nomad Foods Limited (NYSE:NOMD) declared a quarterly dividend on Tuesday, October 29th, NASDAQ reports. Investors of record on Friday, November 8th will be given a dividend of 0.15 per share on Tuesday, November 26th. This represents a $0.60 dividend on an annualized basis and a yield of 3.42%. The ex-dividend date of this dividend is Friday, November 8th.

Nomad Foods has a payout ratio of 28.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Nomad Foods to earn $2.15 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 27.9%.

Nomad Foods Trading Down 0.3 %

NOMD stock traded down $0.05 during midday trading on Wednesday, reaching $17.56. The company’s stock had a trading volume of 326,292 shares, compared to its average volume of 578,566. Nomad Foods has a 1 year low of $13.67 and a 1 year high of $20.05. The firm has a market capitalization of $2.86 billion, a price-to-earnings ratio of 14.63 and a beta of 0.78. The stock has a fifty day simple moving average of $18.55 and a two-hundred day simple moving average of $18.09. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.73 and a current ratio of 1.17.

Nomad Foods (NYSE:NOMD) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.47 EPS for the quarter, hitting the consensus estimate of $0.47. The company had revenue of $810.64 million for the quarter, compared to the consensus estimate of $822.21 million. Nomad Foods had a net margin of 6.79% and a return on equity of 9.78%. On average, equities research analysts predict that Nomad Foods will post 1.96 EPS for the current year.

Wall Street Analyst Weigh In

NOMD has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft boosted their price target on Nomad Foods from $23.00 to $24.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Barclays dropped their price target on Nomad Foods from $22.00 to $21.00 and set an “overweight” rating on the stock in a research report on Friday, July 19th. Finally, StockNews.com raised shares of Nomad Foods from a “hold” rating to a “buy” rating in a research note on Friday, October 25th.

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.