Nordson (NASDAQ:NDSN) Releases Quarterly Earnings Results, Beats Estimates By $0.08 EPS

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

Nordson Stock Up 3.5 %

Nordson stock opened at $247.78 on Thursday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.38 and a current ratio of 2.21. Nordson has a 52-week low of $208.91 and a 52-week high of $279.38. The firm has a 50 day moving average price of $235.40 and a two-hundred day moving average price of $251.61. The firm has a market cap of $14.19 billion, a price-to-earnings ratio of 29.53, a PEG ratio of 1.97 and a beta of 0.91.

Nordson Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 27th will be issued a dividend of $0.78 per share. This is a positive change from Nordson’s previous quarterly dividend of $0.68. The ex-dividend date of this dividend is Tuesday, August 27th. This represents a $3.12 annualized dividend and a yield of 1.26%. Nordson’s dividend payout ratio (DPR) is presently 37.19%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on NDSN. Robert W. Baird decreased their price target on shares of Nordson from $303.00 to $272.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 22nd. StockNews.com downgraded shares of Nordson from a “buy” rating to a “hold” rating in a research note on Tuesday, May 28th. Finally, DA Davidson decreased their price target on shares of Nordson from $315.00 to $295.00 and set a “buy” rating on the stock in a research note on Wednesday, May 22nd. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $279.40.

Nordson Company Profile

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.