Nordson (NASDAQ:NDSN) Issues Quarterly Earnings Results

Nordson (NASDAQ:NDSN) posted its quarterly earnings data on Wednesday. The industrial products company reported $2.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.33 by $0.08, RTT News reports. The firm had revenue of $661.60 million for the quarter, compared to the consensus estimate of $656.49 million. Nordson had a net margin of 18.23% and a return on equity of 20.20%. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.35 earnings per share. Nordson updated its FY24 guidance to $9.45-9.65 EPS.

Nordson Price Performance

Shares of NDSN stock traded up $1.37 during mid-day trading on Friday, hitting $257.40. 371,523 shares of the stock were exchanged, compared to its average volume of 244,761. The company has a quick ratio of 1.38, a current ratio of 2.21 and a debt-to-equity ratio of 0.51. Nordson has a 52-week low of $208.91 and a 52-week high of $279.38. The firm has a fifty day moving average of $236.15 and a 200 day moving average of $251.62. The company has a market cap of $14.74 billion, a PE ratio of 31.07, a price-to-earnings-growth ratio of 1.97 and a beta of 0.91.

Nordson Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 27th will be issued a $0.78 dividend. This is a boost from Nordson’s previous quarterly dividend of $0.68. The ex-dividend date is Tuesday, August 27th. This represents a $3.12 dividend on an annualized basis and a yield of 1.21%. Nordson’s payout ratio is presently 37.19%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on NDSN shares. StockNews.com lowered shares of Nordson from a “buy” rating to a “hold” rating in a research note on Tuesday, May 28th. Robert W. Baird boosted their price target on Nordson from $272.00 to $287.00 and gave the company an “outperform” rating in a research note on Friday. Finally, DA Davidson decreased their target price on Nordson from $315.00 to $295.00 and set a “buy” rating for the company in a report on Wednesday, May 22nd. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Nordson presently has an average rating of “Moderate Buy” and a consensus price target of $282.40.

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.