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 €1.75 to €1.80 for the period, compared to the consensus estimate of $1.75. The company issued revenue guidance of +3-4% yr/yr or €3.136 billion to €3.166 billion, compared to the consensus revenue estimate of $3.11 billion. Nomad Foods also updated its FY 2024 guidance to 1.890-1.950 EPS.

Analyst Upgrades and Downgrades

Separately, Barclays increased their target price on shares of Nomad Foods from $20.00 to $22.00 and gave the company an overweight rating in a research note on Friday, February 2nd.

Nomad Foods Trading Up 6.0 %

Shares of NOMD stock traded up $1.07 on Thursday, reaching $18.92. 2,479,514 shares of the company’s stock were exchanged, compared to its average volume of 652,458. The company’s fifty day simple moving average is $18.99 and its 200 day simple moving average is $17.51. Nomad Foods has a 52 week low of $13.56 and a 52 week high of $20.05. The company has a current ratio of 1.13, a quick ratio of 0.70 and a debt-to-equity ratio of 0.82. The stock has a market capitalization of $3.08 billion, a PE ratio of 15.38 and a beta of 0.77.

Nomad Foods (NYSE:NOMD) last released its earnings results on Thursday, February 29th. The company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.01. The business had revenue of $761.00 million during the quarter, compared to the consensus estimate of $766.56 million. Nomad Foods had a return on equity of 10.41% and a net margin of 6.34%. During the same period last year, the company earned $0.34 earnings per share. As a group, analysts forecast that Nomad Foods will post 1.91 EPS for the current year.

Nomad Foods Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 28th. Stockholders of record on Thursday, May 9th 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 3.17%. The ex-dividend date is Wednesday, May 8th. Nomad Foods’s dividend payout ratio (DPR) is presently 48.78%.

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.