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Tuesday, December 1, 2020

The Unprecedented Rise of Nomad Foods Limited (NYSE:NOMD)

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Nomad Foods Limited (NOMD) shares are trading at higher $24.91 and the avg recommendation for the stock is Strong Buy. while the current analyst price target stands at $29.19.

To add more color to this target, the company’s high over the last year is $25.00 and the low is $14.08. Over the last 52 weeks, NOMD is down -0.36% while the S&P 500 is up 0.22%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

In the last quarter, NOMD reported a profit of $199.63 million. Nomad Foods Limited also saw revenues increase to $659.56 million. In addition, NOMD has free cash flow of $305.44 million as of 06-2020. The company’s EBITDA came in at $123.73 million which compares well with its peers.

NOMD booked profit margins of 8.00%, its Return on Equity (ROE) is 7.70%, and its Return on Assets is 3.30%. All told, it is clear that, NOMD needs to be on your watchlist.

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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. NOMD has a short ratio of 1.84 and outstanding shares of 198.40M.

Company Outlook

NOMD has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 1.05 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at 1.13. Nomad Foods Limited NOMD also noted assets of $6.59 billion at the end of the last quarter. Investors should also keep an eye on sector updates as NOMD has historically followed its peers on positive news.

All told, Nomad Foods Limited NOMD has strung together solid data and demonstrated underlying fundamentals. At its current valuation, NOMD represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.

Nomad Foods Limited NOMD is now commanding a market cap of 4.93B and a float of 170.60M. NOMD is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of NOMD stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in NOMD, either long or short, and we have not been compensated for this article.

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