Nomad Foods (NYSE:NOMD) Issues 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.

Wall Street Analysts Forecast Growth

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

Nomad Foods Price Performance

Shares of NYSE:NOMD opened at $16.81 on Friday. The company’s fifty day moving average is $18.24 and its two-hundred day moving average is $17.99. The company has a market cap of $2.74 billion, a P/E ratio of 12.45 and a beta of 0.79. Nomad Foods has a 12-month low of $15.76 and a 12-month high of $20.05. The company has a quick ratio of 0.73, a current ratio of 1.17 and a debt-to-equity ratio of 0.80.

Nomad Foods Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Friday, November 8th will be given a dividend of $0.15 per share. The ex-dividend date is Friday, November 8th. This represents a $0.60 dividend on an annualized basis and a yield of 3.57%. Nomad Foods’s payout ratio is presently 44.44%.

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.