Zacks: Brokerages Expect Nordson Corporation (NDSN) Will Announce Quarterly Sales of $542.50 Million
Brokerages predict that Nordson Corporation (NASDAQ:NDSN) will announce $542.50 million in sales for the current fiscal quarter, Zacks reports. Seven analysts have made estimates for Nordson Corporation’s earnings, with the lowest sales estimate coming in at $531.20 million and the highest estimate coming in at $547.70 million. Nordson Corporation posted sales of $509.28 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 6.5%. The company is scheduled to report its next quarterly earnings results on Tuesday, December 12th.
On average, analysts expect that Nordson Corporation will report full-year sales of $542.50 million for the current fiscal year, with estimates ranging from $2.02 billion to $2.04 billion. For the next financial year, analysts forecast that the company will post sales of $2.16 billion per share, with estimates ranging from $2.11 billion to $2.23 billion. Zacks’ sales averages are a mean average based on a survey of analysts that cover Nordson Corporation.
Nordson Corporation (NASDAQ:NDSN) last posted its quarterly earnings results on Monday, August 21st. The industrial products company reported $1.78 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.66 by $0.12. The firm had revenue of $589.40 million for the quarter, compared to analyst estimates of $574.20 million. Nordson Corporation had a net margin of 14.57% and a return on equity of 32.99%. Nordson Corporation’s revenue for the quarter was up 20.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.67 earnings per share.
A number of equities research analysts have recently weighed in on the company. Zacks Investment Research raised Nordson Corporation from a “sell” rating to a “hold” rating in a research note on Friday, September 22nd. Longbow Research upgraded Nordson Corporation from a “neutral” rating to a “buy” rating and set a $140.00 price target for the company in a report on Wednesday, September 20th. FBR & Co set a $160.00 price target on Nordson Corporation and gave the company a “buy” rating in a research note on Monday, September 11th. BidaskClub cut Nordson Corporation from a “buy” rating to a “hold” rating in a research note on Friday, August 25th. Finally, Robert W. Baird restated a “hold” rating and issued a $128.00 price objective on shares of Nordson Corporation in a report on Thursday, August 24th. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $138.25.
Shares of Nordson Corporation (NASDAQ:NDSN) opened at 119.92 on Wednesday. The stock has a market capitalization of $6.92 billion, a P/E ratio of 23.85 and a beta of 1.37. Nordson Corporation has a 1-year low of $95.35 and a 1-year high of $131.49. The firm’s 50-day moving average is $115.06 and its 200 day moving average is $120.96.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 5th. Stockholders of record on Tuesday, August 22nd were issued a dividend of $0.30 per share. This is a positive change from Nordson Corporation’s previous quarterly dividend of $0.27. The ex-dividend date was Friday, August 18th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.00%. Nordson Corporation’s dividend payout ratio is currently 23.90%.
In related news, VP James E. Devries sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, September 25th. The stock was sold at an average price of $118.01, for a total value of $590,050.00. Following the completion of the sale, the vice president now directly owns 41,937 shares in the company, valued at approximately $4,948,985.37. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.15% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. FMR LLC acquired a new position in Nordson Corporation during the 1st quarter worth $44,110,000. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in Nordson Corporation by 4.8% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 416,003 shares of the industrial products company’s stock valued at $50,471,000 after acquiring an additional 19,044 shares during the period. BNP Paribas Arbitrage SA boosted its holdings in Nordson Corporation by 44.0% during the second quarter. BNP Paribas Arbitrage SA now owns 26,298 shares of the industrial products company’s stock valued at $3,190,000 after acquiring an additional 8,039 shares during the period. Vanguard Group Inc. boosted its holdings in Nordson Corporation by 6.1% during the first quarter. Vanguard Group Inc. now owns 4,396,104 shares of the industrial products company’s stock valued at $540,018,000 after acquiring an additional 251,861 shares during the period. Finally, Principal Financial Group Inc. boosted its holdings in Nordson Corporation by 93.9% during the second quarter. Principal Financial Group Inc. now owns 773,058 shares of the industrial products company’s stock valued at $93,786,000 after acquiring an additional 374,363 shares during the period. Hedge funds and other institutional investors own 65.48% of the company’s stock.
Nordson Corporation Company Profile
Nordson Corporation engineers, manufactures and markets differentiated products and systems used to dispense, apply and control adhesives, coatings, polymers, sealants, biomaterials, and other fluids, to test and inspect for quality, and to treat and cure surfaces. The Company’s segments include Adhesive Dispensing Systems, Advanced Technology Systems and Industrial Coating Systems.
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