Brokers Issue Forecasts for Nordson Co.’s Q3 2023 Earnings (NASDAQ:NDSN)

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

A number of other brokerages have also commented on NDSN. Robert W. Baird upped their target price on Nordson from $241.00 to $251.00 in a research note on Wednesday. Loop Capital cut their target price on Nordson from $250.00 to $225.00 and set a “hold” rating for the company in a research note on Tuesday, March 21st. Finally, StockNews.com upgraded Nordson from a “hold” rating to a “buy” rating in a research note on Friday. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $252.20.

Nordson Stock Performance

Shares of NASDAQ NDSN opened at $217.15 on Thursday. The business has a fifty day simple moving average of $215.38 and a 200 day simple moving average of $227.35. The company has a current ratio of 1.17, a quick ratio of 0.89 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $12.43 billion, a price-to-earnings ratio of 24.37, a PEG ratio of 1.86 and a beta of 0.91. Nordson has a one year low of $194.89 and a one year high of $251.26.

Nordson (NASDAQ:NDSN – Get Rating) last issued its earnings results on Tuesday, May 23rd. The industrial products company reported $2.26 EPS for the quarter, beating analysts’ consensus estimates of $2.12 by $0.14. The business had revenue of $650.17 million during 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%. Nordson’s revenue was up 2.3% on a year-over-year basis. During the same period in the prior year, the company posted $2.43 earnings per share.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of NDSN. Toroso Investments LLC increased its stake in shares of Nordson by 4.8% in the first 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 in the last quarter. Ameriprise Financial Inc. increased its stake in shares of Nordson by 31.6% in the first quarter. Ameriprise Financial Inc. now owns 29,415 shares of the industrial products company’s stock valued at $6,537,000 after buying an additional 7,056 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Nordson by 43.6% in the first quarter. JPMorgan Chase & Co. now owns 232,556 shares of the industrial products company’s stock valued at $51,689,000 after buying an additional 70,605 shares in the last quarter. B. Riley Wealth Advisors Inc. increased its stake in shares of Nordson by 8.7% in the first quarter. B. Riley Wealth Advisors Inc. now owns 948 shares of the industrial products company’s stock valued at $211,000 after buying an additional 76 shares in the last quarter. Finally, Advisory Services Network LLC increased its stake in shares of Nordson by 4.6% in the first quarter. Advisory Services Network LLC now owns 10,695 shares of the industrial products company’s stock valued at $2,377,000 after buying an additional 466 shares in the last quarter. 70.40% of the stock is currently owned by institutional investors and hedge funds.

Nordson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 6th. Shareholders of record on Tuesday, May 23rd will be paid a dividend of $0.65 per share. The ex-dividend date of this dividend is Monday, May 22nd. This represents a $2.60 annualized dividend and a yield of 1.20%. Nordson’s dividend payout ratio is currently 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.