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 €1.75 to €1.80 for the period, compared to the consensus EPS 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.

Nomad Foods Stock Up 6.0 %

Shares of Nomad Foods stock traded up $1.07 during trading hours on Thursday, hitting $18.92. The company had a trading volume of 2,479,514 shares, compared to its average volume of 652,458. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.13 and a quick ratio of 0.70. The company’s 50-day moving average is $18.99 and its two-hundred day moving average is $17.51. The company has a market cap of $3.08 billion, a P/E ratio of 15.38 and a beta of 0.77. Nomad Foods has a twelve month low of $13.56 and a twelve month high of $20.05.

Nomad Foods (NYSE:NOMD) last released its quarterly earnings data on Thursday, February 29th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.01. Nomad Foods had a net margin of 6.34% and a return on equity of 10.41%. The company had revenue of $761.00 million during the quarter, compared to the consensus estimate of $766.56 million. During the same quarter in the prior year, the firm posted $0.34 earnings per share. Analysts anticipate that Nomad Foods will post 1.91 earnings per share for the current fiscal year.

Nomad Foods Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 28th. Shareholders of record on Thursday, May 9th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 3.17%. The ex-dividend date is Wednesday, May 8th. Nomad Foods’s dividend payout ratio (DPR) is 48.78%.

Wall Street Analyst Weigh In

Separately, Barclays lifted their price objective 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 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.