Nordson Co. (NASDAQ:NDSN) Forecasted to Earn Q3 2023 Earnings of $2.35 Per Share

Nordson Co. (NASDAQ:NDSN – Get Rating) – Stock analysts at Seaport Res Ptn dropped their Q3 2023 earnings estimates for Nordson in a note issued to investors on Wednesday, May 24th. Seaport Res Ptn analyst W. Liptak now expects that the industrial products company will post earnings of $2.35 per share for the quarter, down from their prior forecast of $2.48. The consensus estimate for Nordson’s current full-year earnings is $9.07 per share. Seaport Res Ptn also issued estimates for Nordson’s Q1 2024 earnings at $2.01 EPS, Q3 2024 earnings at $2.53 EPS, Q4 2024 earnings at $2.68 EPS and FY2024 earnings at $9.57 EPS.

Nordson (NASDAQ:NDSN – Get Rating) last released its earnings results 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 firm had revenue of $650.17 million for the quarter, compared to analysts’ expectations of $638.87 million. Nordson had a net margin of 19.75% and a return on equity of 22.40%. The company’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the previous year, the company earned $2.43 earnings per share.

A number of other equities analysts have also commented on the stock. Loop Capital decreased their price target on shares of Nordson from $250.00 to $225.00 and set a “hold” rating on the stock in a report on Tuesday, March 21st. StockNews.com raised shares of Nordson from a “hold” rating to a “buy” rating in a research report on Friday. Finally, Robert W. Baird raised their target price on shares of Nordson from $241.00 to $251.00 in a research report on Wednesday. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $252.20.

Nordson Stock Performance

Nordson stock opened at $220.82 on Friday. The firm’s 50 day simple moving average is $215.72 and its 200 day simple moving average is $227.34. 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 $12.64 billion, a PE ratio of 24.78, a price-to-earnings-growth ratio of 1.81 and a beta of 0.91. Nordson has a 1-year low of $194.89 and a 1-year high of $251.26.

Institutional Trading of Nordson

Large investors have recently made changes to their positions in the stock. Salem Investment Counselors Inc. purchased a new position in shares of Nordson in the second quarter worth approximately $31,000. Asset Dedication LLC lifted its holdings in Nordson by 1,258.3% during the fourth quarter. Asset Dedication LLC now owns 163 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 151 shares in the last quarter. Bessemer Group Inc. lifted its holdings in Nordson by 33.1% during the third quarter. Bessemer Group Inc. now owns 213 shares of the industrial products company’s stock valued at $46,000 after purchasing an additional 53 shares in the last quarter. Machina Capital S.A.S. purchased a new position in Nordson during the first quarter valued at approximately $47,000. Finally, Freedom Wealth Alliance LLC bought a new stake in shares of Nordson during the fourth quarter valued at approximately $58,000. 70.40% of the stock is currently owned by institutional investors.

Nordson Dividend Announcement

The company 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 is Monday, May 22nd. This represents a $2.60 dividend on an annualized basis and a yield of 1.18%. Nordson’s dividend payout ratio is currently 29.18%.

Nordson Company Profile

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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.