Nomad Foods Limited (NOMD) To Go Ex-Dividend on May 12th

Nomad Foods Limited (NYSE:NOMD) declared a quarterly dividend on Thursday, April 30th. Stockholders of record on Tuesday, May 12th will be paid a dividend of 0.17 per share on Thursday, May 28th. This represents a c) annualized dividend and a dividend yield of 7.1%. The ex-dividend date of this dividend is Tuesday, May 12th.

Nomad Foods has a payout ratio of 29.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Nomad Foods to earn $1.82 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 37.4%.

Nomad Foods Price Performance

Shares of NOMD opened at $9.51 on Friday. The stock has a market capitalization of $1.35 billion, a P/E ratio of 9.33 and a beta of 0.69. Nomad Foods has a twelve month low of $9.39 and a twelve month high of $20.29. The company has a 50 day moving average of $10.11 and a 200-day moving average of $11.48. The company has a quick ratio of 0.66, a current ratio of 1.07 and a debt-to-equity ratio of 0.90.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Weiss Ratings cut shares of Nomad Foods from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, March 2nd. Barclays decreased their price target on shares of Nomad Foods from $13.00 to $12.00 and set an “overweight” rating for the company in a research note on Tuesday, April 14th. BTIG Research decreased their price target on shares of Nomad Foods from $18.00 to $15.00 and set a “buy” rating for the company in a research note on Monday, March 2nd. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $10.00 price target (down from $15.00) on shares of Nomad Foods in a research note on Monday, March 30th. Finally, Mizuho decreased their price target on shares of Nomad Foods from $15.00 to $13.00 and set an “outperform” rating for the company in a research note on Tuesday, March 3rd. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $12.50.

Nomad Foods Company Profile

Nomad Foods Limited is a leading frozen foods company headquartered in the United Kingdom, operating under the ticker symbol NOMD on the New York Stock Exchange. The company’s portfolio comprises well-known consumer brands such as Birds Eye, iglo, Findus, Goodfella’s and Aunt Bessie’s, covering a wide range of categories including vegetables, seafood, ready meals, pizzas and desserts. Nomad Foods focuses on delivering convenient, high-quality frozen products designed to meet evolving consumer preferences for taste, nutrition and ease of preparation.

Formed in 2015 through the acquisition of Iglo Group by investment firms Permira and Goldman Sachs Asset Management, Nomad Foods was created with the strategy of building Europe’s largest frozen foods platform.