Nordson Co. (NASDAQ:NDSN) to Post Q3 2023 Earnings of $2.38 Per Share, KeyCorp Forecasts

Nordson Co. (NASDAQ:NDSN – Get Rating) – Equities research analysts at KeyCorp dropped their Q3 2023 earnings per share (EPS) estimates for Nordson in a research note issued on Monday, May 22nd. KeyCorp analyst J. Hammond now anticipates that the industrial products company will post earnings of $2.38 per share for the quarter, down from their prior estimate of $2.52. The consensus estimate for Nordson’s current full-year earnings is $9.04 per share. KeyCorp also issued estimates for Nordson’s Q4 2023 earnings at $2.56 EPS.

Several other equities research analysts have also commented on NDSN. Robert W. Baird boosted their price target on Nordson from $241.00 to $251.00 in a research note on Wednesday. StockNews.com started coverage on Nordson in a report on Thursday, May 18th. They issued a “hold” rating for the company. Finally, Loop Capital cut their price target on Nordson from $250.00 to $225.00 and set a “hold” rating for the company in a report on Tuesday, March 21st. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Nordson has a consensus rating of “Hold” and a consensus target price of $252.20.

Nordson Price Performance

Shares of NDSN opened at $213.80 on Wednesday. The stock’s 50 day moving average is $215.16 and its two-hundred day moving average is $227.42. The firm has a market capitalization of $12.24 billion, a PE ratio of 24.00, a P/E/G ratio of 1.84 and a beta of 0.91. The company has a current ratio of 1.43, a quick ratio of 0.89 and a debt-to-equity ratio of 0.25. Nordson has a twelve month low of $194.89 and a twelve month high of $251.26.

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. Nordson had a return on equity of 22.84% and a net margin of 19.75%. The company had revenue of $650.17 million for the quarter, compared to analyst estimates of $638.87 million. During the same quarter in the previous year, the company earned $2.43 EPS. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year.

Hedge Funds Weigh In On Nordson

A number of large investors have recently bought and sold shares of NDSN. Morgan Stanley raised its holdings in shares of Nordson by 435.1% during the fourth quarter. Morgan Stanley now owns 1,275,693 shares of the industrial products company’s stock valued at $303,258,000 after buying an additional 1,037,295 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Nordson by 16.5% during the first quarter. Vanguard Group Inc. now owns 5,997,575 shares of the industrial products company’s stock valued at $1,361,928,000 after buying an additional 850,479 shares during the last quarter. Norges Bank bought a new stake in Nordson during the fourth quarter worth approximately $176,078,000. ProShare Advisors LLC raised its holdings in Nordson by 9,439.6% during the first quarter. ProShare Advisors LLC now owns 710,034 shares of the industrial products company’s stock worth $157,812,000 after purchasing an additional 702,591 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in Nordson by 258.7% during the second quarter. Goldman Sachs Group Inc. now owns 878,782 shares of the industrial products company’s stock worth $177,900,000 after purchasing an additional 633,821 shares in the last quarter. Institutional investors own 70.40% of the company’s stock.

Nordson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 6th. Investors of record on Tuesday, May 23rd will be paid a $0.65 dividend. The ex-dividend date is Monday, May 22nd. This represents a $2.60 dividend on an annualized basis and a yield of 1.22%. Nordson’s dividend payout ratio (DPR) is 29.18%.

About Nordson

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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.