A glance at the share price performances of three leading but very different seafood companies — High Liner, Birds Eye parent Nomad Foods and Frosta — is very much a distinct tale of three companies.
Analysts mixed on Clearwater, High Liner outlooks
Since the start of the year High Liner’s share price has been on something of a bull run, climbing 52 percent to Sept. 12. And though its share price has since slipped back somewhat, it is still 36 percent higher than at the start of the year.
On the face of it, High Liner’s share performance would appear to reflect investor confidence in the company’s turnaround plan, now into its second year, though the strategy has been given a mixed reception by analysts.
But the positive trend would also appear to underscore comments by High Liner CEO that “with each passing quarter we are becoming a more cohesive organization.’
Nomad extends three-year growth streak, says more M&A on the way
Meanwhile, Nomad Foods shares are slumping in recent weeks after a near 37 percent rise from the start of the year to July 24. Since that high, however, the company’s share price has slipped 13 percent.
While some in the market are a little nervous about the company’s debt levels, earlier this year the company announced it has around €750 million ($842 million) in cash to spend on mergers and acquisitions facilitated by capital raising, although did not disclose specifics on any deals.
Salmon prices deal a blow to Frosta’s first half earnings
By contrast, German seafood processor Frosta’s share prices has been on a slow, steady decline. Despite some fluctuations, the company’s share price is down more than 17 percent this year.
All eyes will be on Frosta’s third quarter earnings to see if the company can halt the slide.
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