Zacks: Brokerages Anticipate Nordson Corporation (NDSN) Will Announce Quarterly Sales of $543.39 Million
Wall Street analysts expect that Nordson Corporation (NASDAQ:NDSN) will post sales of $543.39 million for the current quarter, Zacks Investment Research reports. Seven analysts have made estimates for Nordson Corporation’s earnings, with estimates ranging from $531.20 million to $547.70 million. Nordson Corporation posted sales of $509.28 million in the same quarter last year, which suggests a positive year-over-year growth rate of 6.7%. The business is expected to announce its next earnings results on Tuesday, December 12th.
According to Zacks, analysts expect that Nordson Corporation will report full year sales of $543.39 million for the current financial 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 an average based on a survey of research firms that follow Nordson Corporation.
Nordson Corporation (NASDAQ:NDSN) last announced its earnings results on Monday, August 21st. The industrial products company reported $1.78 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.66 by $0.12. Nordson Corporation had a return on equity of 32.99% and a net margin of 14.57%. The firm had revenue of $589.40 million for the quarter, compared to analysts’ expectations of $574.20 million. During the same quarter in the previous year, the company earned $1.67 earnings per share. The firm’s quarterly revenue was up 20.3% compared to the same quarter last year.
NDSN has been the topic of several research analyst reports. Gabelli raised shares of Nordson Corporation from a “hold” rating to a “buy” rating and set a $140.00 price target on the stock in a research note on Wednesday, August 23rd. BidaskClub cut shares of Nordson Corporation from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 18th. FBR & Co set a $160.00 price target on shares of Nordson Corporation and gave the company a “buy” rating in a research note on Monday, September 11th. Longbow Research raised shares of Nordson Corporation from a “neutral” rating to a “buy” rating and set a $140.00 price target on the stock in a research note on Wednesday, September 20th. Finally, KeyCorp reissued a “buy” rating and set a $145.00 price target on shares of Nordson Corporation in a research note on Thursday, October 12th. One analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the stock. Nordson Corporation has a consensus rating of “Hold” and a consensus target price of $141.14.
In other Nordson Corporation news, VP James E. Devries sold 5,000 shares of the stock in a transaction on Monday, September 25th. The shares were sold at an average price of $118.01, for a total value of $590,050.00. Following the sale, the vice president now directly owns 41,937 shares in the company, valued at $4,948,985.37. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 2.15% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Nordson Corporation by 1.5% in the second quarter. Vanguard Group Inc. now owns 4,463,149 shares of the industrial products company’s stock worth $541,469,000 after purchasing an additional 67,045 shares during the period. BlackRock Inc. raised its holdings in Nordson Corporation by 1.1% in the second quarter. BlackRock Inc. now owns 4,430,648 shares of the industrial products company’s stock worth $537,525,000 after purchasing an additional 50,194 shares during the period. Atlanta Capital Management Co. L L C raised its holdings in Nordson Corporation by 91.2% in the second quarter. Atlanta Capital Management Co. L L C now owns 1,777,597 shares of the industrial products company’s stock worth $215,658,000 after purchasing an additional 848,006 shares during the period. Janus Henderson Group PLC acquired a new stake in Nordson Corporation in the second quarter worth $158,781,000. Finally, Principal Financial Group Inc. raised its holdings in Nordson Corporation by 93.9% in the second quarter. Principal Financial Group Inc. now owns 773,058 shares of the industrial products company’s stock worth $93,786,000 after purchasing an additional 374,363 shares during the period. Institutional investors own 65.48% of the company’s stock.
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Shares of Nordson Corporation (NASDAQ NDSN) opened at 124.66 on Monday. The company’s 50-day moving average price is $117.58 and its 200 day moving average price is $120.97. Nordson Corporation has a one year low of $96.05 and a one year high of $131.49. The company has a market cap of $7.19 billion, a PE ratio of 24.79 and a beta of 1.37.
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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