Nomad Foods (NYSE:NOMD) Releases FY24 Earnings Guidance

Nomad Foods (NYSE:NOMD) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of €1.72-1.77 for the period, compared to the consensus 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

Several equities analysts have commented on the company. Barclays lowered 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. StockNews.com downgraded shares of Nomad Foods from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of Nomad Foods from $25.00 to $23.00 and set a “buy” rating for the company in a report on Monday, November 4th.

Nomad Foods Trading Up 3.4 %

Shares of Nomad Foods stock opened at $16.81 on Friday. The company has a market cap of $2.74 billion, a price-to-earnings ratio of 12.45 and a beta of 0.79. Nomad Foods has a 1 year low of $15.76 and a 1 year high of $20.05. The company’s fifty day simple moving average is $18.24 and its 200-day simple moving average is $17.99. 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 Dividend Announcement

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

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.