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 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.

Analysts Set New Price Targets

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

Nomad Foods Stock Down 1.8 %

Shares of NYSE:NOMD opened at $16.47 on Friday. Nomad Foods has a 1-year low of $15.76 and a 1-year high of $20.05. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.17 and a quick ratio of 0.73. The stock has a market cap of $2.68 billion, a P/E ratio of 12.38 and a beta of 0.79. The firm has a fifty day moving average price of $18.13 and a 200 day moving average price of $17.97.

Nomad Foods Dividend Announcement

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 dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.64%. The ex-dividend date is Friday, November 8th. Nomad Foods’s dividend payout ratio is currently 45.11%.

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.