Nomad Foods (NYSE:NOMD) Updates FY 2024 Earnings Guidance

Nomad Foods (NYSE:NOMD) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 1.890-1.945 for the period, compared to the consensus earnings per share estimate of 1.760. The company issued revenue guidance of -. Nomad Foods also updated its FY24 guidance to €1.72-1.77 EPS.

Nomad Foods Price Performance

Nomad Foods stock traded up $0.93 during trading hours on Thursday, reaching $17.18. 585,469 shares of the stock were exchanged, compared to its average volume of 590,999. The stock has a 50 day moving average of $18.24 and a two-hundred day moving average of $17.99. The company has a market cap of $2.80 billion, a P/E ratio of 12.99 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. Nomad Foods has a twelve month low of $15.76 and a twelve month high of $20.05.

Nomad Foods Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on NOMD shares. Deutsche Bank Aktiengesellschaft lowered 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 report on Monday, November 4th. StockNews.com cut Nomad Foods from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. Finally, Barclays reduced their price objective 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.