Nomad Foods (NYSE:NOMD) Updates 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.

Nomad Foods Stock Performance

Shares of Nomad Foods stock opened at $16.25 on Thursday. The firm has a market capitalization of $2.65 billion, a P/E ratio of 12.04 and a beta of 0.79. 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 business’s fifty day simple moving average is $18.24 and its 200 day simple moving average is $17.99. Nomad Foods has a 12 month low of $15.76 and a 12 month high of $20.05.

Nomad Foods Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 26th. Investors of record on Friday, November 8th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.69%. The ex-dividend date of this dividend is Friday, November 8th. Nomad Foods’s dividend payout ratio (DPR) is currently 44.44%.

Wall Street Analyst Weigh In

NOMD has been the topic of several research reports. Barclays lowered their price objective on shares of Nomad Foods from $22.00 to $21.00 and set an “overweight” rating on the stock in a research report on Friday, July 19th. Deutsche Bank Aktiengesellschaft dropped their price objective on Nomad Foods from $25.00 to $23.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Finally, StockNews.com downgraded Nomad Foods from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th.

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.