Nomad Foods Limited (NYSE:NOMD) to Issue Quarterly Dividend of $0.17

Nomad Foods Limited (NYSE:NOMD) announced a quarterly dividend on Thursday, January 30th,RTT News reports. Shareholders of record on Monday, February 10th will be given a dividend of 0.17 per share on Wednesday, February 26th. This represents a $0.68 dividend on an annualized basis and a yield of 3.84%. This is a positive change from Nomad Foods’s previous quarterly dividend of $0.15.

Nomad Foods has a dividend payout ratio of 28.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect Nomad Foods to earn $1.95 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 30.8%.

Nomad Foods Stock Performance

Shares of NOMD opened at $17.70 on Thursday. The company has a quick ratio of 0.72, a current ratio of 1.20 and a debt-to-equity ratio of 0.79. Nomad Foods has a 52-week low of $15.43 and a 52-week high of $20.05. The company has a 50-day simple moving average of $17.06 and a 200-day simple moving average of $17.82. The company has a market capitalization of $2.88 billion, a PE ratio of 13.28 and a beta of 0.79.

Analysts Set New Price Targets

Several equities analysts recently weighed in on NOMD shares. StockNews.com raised Nomad Foods from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. Mizuho cut their price target on Nomad Foods from $28.00 to $24.00 and set an “outperform” rating for the company in a research note on Wednesday, December 18th. Barclays decreased their price objective on shares of Nomad Foods from $21.00 to $19.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective 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 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.