NOMD Stock Summary and Trading Ideas (Nomad Foods | NYSE:NOMD)

Nomad Foods Ltd is a packaged foods company that is involved in the business of manufacturing and distribution of branded frozen foods in Western Europe. The company manufactures and markets frozen food products such as fish, vegetables, poultry, Ice Cream and ready meals. It sells its products primarily through large grocery retailers under the brand Birds Eye in the United Kingdom and Ireland, Findus in Italy, France, Spain, and Scandinavia, and Iglo in Germany and other continental markets. The company operates through a single segment being Frozen. The majority of the revenue is generated from the United Kingdom.

Nomad Foods trades on the NYSE stock market under the symbol NOMD.

As of May 14, 2024, NOMD stock price declined to $18.70 with 46,666 million shares trading.

NOMD has a beta of 0.63, meaning it tends to be less sensitive to market movements. NOMD has a correlation of 0.11 to the broad based SPY ETF.

NOMD has a market cap of $3.26 billion. This is considered a Mid Cap stock.

Last quarter Nomad Foods reported $851 million in Revenue and $.40 earnings per share. This beat revenue expectation by $7 million and missed earnings estimates by -$.01.

In the last 3 years, NOMD stock traded as high as $31.85 and as low as $12.50.

The top ETF exchange traded funds that NOMD belongs to (by Net Assets): FNDA, VYM, PBJ, SPDW, VT.

NOMD has underperformed the market in the last year with a price return of +4.2% while the SPY ETF gained +28.2%. However, in the short term, NOMD had mixed performance relative to the market. It has outperformed in the last 3 months, returning +9.6% vs +5.8% return in SPY. But in the last 2 weeks, NOMD shares have been beat by the market, returning +2.1% compared to an SPY return of +2.2%.

NOMD support price is $18.58 and resistance is $19.14 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that NOMD stock will trade within this expected range on the day.