Nordson Co. Expected to Post Q3 2023 Earnings of $2.28 Per Share (NASDAQ:NDSN)

Posted by Defense World Staff on May 25th, 2023

Nordson Co. (NASDAQ:NDSN – Get Rating) – DA Davidson issued their Q3 2023 earnings per share (EPS) estimates for shares of Nordson in a note issued to investors on Wednesday, May 24th. DA Davidson analyst M. Summerville expects that the industrial products company will post earnings per share of $2.28 for the quarter. The consensus estimate for Nordson’s current full-year earnings is $9.10 per share.

Nordson (NASDAQ:NDSN – Get Rating) last announced its quarterly earnings data on Tuesday, May 23rd. The industrial products company reported $2.26 earnings per share for the quarter, beating analysts’ consensus estimates of $2.12 by $0.14. The company had revenue of $650.17 million for the quarter, compared to analyst estimates of $638.87 million. Nordson had a return on equity of 22.40% and a net margin of 19.75%. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter last year, the firm posted $2.43 EPS.

A number of other analysts also recently issued reports on NDSN. Robert W. Baird raised their price objective on Nordson from $241.00 to $251.00 in a research report on Wednesday. Loop Capital cut their price objective on Nordson from $250.00 to $225.00 and set a “hold” rating for the company in a research report on Tuesday, March 21st. Finally, StockNews.com initiated coverage on Nordson in a research report on Thursday, May 18th. They issued a “hold” rating for the company. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $252.20.

Nordson Stock Down 2.6 %

Shares of NDSN opened at $213.80 on Thursday. Nordson has a 52-week low of $194.89 and a 52-week high of $251.26. The company has a market capitalization of $12.24 billion, a PE ratio of 24.00, a price-to-earnings-growth ratio of 1.86 and a beta of 0.91. The stock has a fifty day simple moving average of $215.16 and a two-hundred day simple moving average of $227.42. The company has a quick ratio of 0.89, a current ratio of 1.17 and a debt-to-equity ratio of 0.14.

Nordson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 6th. Stockholders of record on Tuesday, May 23rd will be paid a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 1.22%. The ex-dividend date is Monday, May 22nd. Nordson’s payout ratio is presently 29.18%.

Hedge Funds Weigh In On Nordson

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Toroso Investments LLC boosted its stake in shares of Nordson by 4.8% in the 1st quarter. Toroso Investments LLC now owns 1,360 shares of the industrial products company’s stock valued at $302,000 after buying an additional 62 shares during the period. Ameriprise Financial Inc. lifted its stake in Nordson by 31.6% during the first quarter. Ameriprise Financial Inc. now owns 29,415 shares of the industrial products company’s stock worth $6,537,000 after purchasing an additional 7,056 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Nordson by 43.6% during the first quarter. JPMorgan Chase & Co. now owns 232,556 shares of the industrial products company’s stock worth $51,689,000 after purchasing an additional 70,605 shares during the last quarter. B. Riley Wealth Advisors Inc. lifted its stake in Nordson by 8.7% during the first quarter. B. Riley Wealth Advisors Inc. now owns 948 shares of the industrial products company’s stock worth $211,000 after purchasing an additional 76 shares during the last quarter. Finally, Advisory Services Network LLC lifted its stake in Nordson by 4.6% during the first quarter. Advisory Services Network LLC now owns 10,695 shares of the industrial products company’s stock worth $2,377,000 after purchasing an additional 466 shares during the last quarter. Hedge funds and other institutional investors own 70.40% of the company’s stock.

About Nordson

(Get Rating)

Nordson Corp. engages in the engineering, manufacture and market of products and systems used for adhesives, coatings, sealants, biomaterials and other materials. It operates through the following segments: Industrial Precision Solutions and Advanced Technology Solution. The Industrial Precision Solutions segment enhances the technology synergies between adhesive dispensing systems and industrial coating systems to deliver proprietary dispensing and processing technology to diverse end markets.