Nomad Foods (NYSE:NOMD) Releases FY24 Earnings Guidance

Nomad Foods (NYSE:NOMD) updated its FY24 earnings guidance on Thursday. 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.

Nomad Foods Stock Down 1.8 %

Shares of NYSE:NOMD opened at $16.46 on Friday. 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 has a 52 week low of $15.76 and a 52 week high of $20.05. The company has a 50 day moving average price of $18.18 and a two-hundred day moving average price of $17.98. The company has a market capitalization of $2.68 billion, a PE ratio of 12.19 and a beta of 0.79.

Nomad Foods Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 26th. Investors of record on Friday, November 8th will be given a $0.15 dividend. The ex-dividend date is Friday, November 8th. This represents a $0.60 annualized dividend and a dividend yield of 3.65%. Nomad Foods’s dividend payout ratio is presently 44.44%.

Analyst Ratings Changes

A number of brokerages recently weighed in on NOMD. StockNews.com lowered shares of Nomad Foods from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. Deutsche Bank Aktiengesellschaft decreased their target price 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. Finally, Barclays lowered 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.

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.