Nordson (NASDAQ:NDSN) Posts Quarterly Earnings Results, Beats Expectations By $0.04 EPS

Nordson (NASDAQ:NDSN) announced its earnings results on Monday. The industrial products company reported $2.34 EPS for the quarter, topping the consensus estimate of $2.30 by $0.04, Briefing.com reports. Nordson had a return on equity of 20.50% and a net margin of 18.23%. The company had revenue of $650.64 million for the quarter, compared to analysts’ expectations of $661.06 million. During the same quarter in the prior year, the business earned $2.26 earnings per share. The business’s revenue for the quarter was up .1% on a year-over-year basis. Nordson updated its Q3 guidance to $2.25-2.40 EPS and its FY24 guidance to $9.35-9.75 EPS.

Nordson Stock Down 9.4 %

Shares of NASDAQ:NDSN opened at $243.14 on Wednesday. The company has a current ratio of 2.19, a quick ratio of 1.37 and a debt-to-equity ratio of 0.56. The company has a market cap of $13.91 billion, a price-to-earnings ratio of 28.98, a PEG ratio of 2.02 and a beta of 1.00. Nordson has a 12 month low of $208.90 and a 12 month high of $279.38. The company has a 50-day moving average price of $267.01 and a 200 day moving average price of $256.63.

Nordson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 21st will be paid a $0.68 dividend. The ex-dividend date of this dividend is Monday, May 20th. This represents a $2.72 dividend on an annualized basis and a yield of 1.12%. Nordson’s payout ratio is presently 32.42%.

Analyst Ratings Changes

A number of research firms have weighed in on NDSN. DA Davidson raised their price target on Nordson from $290.00 to $315.00 and gave the company a “buy” rating in a research note on Tuesday, February 27th. Wells Fargo & Company boosted their price target on Nordson from $290.00 to $315.00 and gave the stock an “overweight” rating in a report on Friday, February 23rd. KeyCorp reiterated a “sector weight” rating on shares of Nordson in a research report on Monday, February 26th. Finally, StockNews.com upgraded Nordson from a “hold” rating to a “buy” rating in a research report on Monday. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $278.00.

About Nordson

Nordson Corporation engineers, manufactures, and markets products and systems to dispense, apply, and control adhesives, coatings, polymers, sealants, biomaterials, and other fluids worldwide. It operates through three segments: Industrial Precision Solutions; Medical and Fluid Solutions; and Advanced Technology Solutions.