SunTrust Banks Research Analysts Boost Earnings Estimates for Nordson Co. (NDSN)
Nordson Co. (NASDAQ:NDSN) – Stock analysts at SunTrust Banks lifted their FY2018 EPS estimates for Nordson in a note issued to investors on Tuesday. SunTrust Banks analyst C. Brady now forecasts that the industrial products company will earn $6.66 per share for the year, up from their prior estimate of $6.29. SunTrust Banks has a “Buy” rating and a $166.00 price objective on the stock. SunTrust Banks also issued estimates for Nordson’s FY2019 earnings at $7.13 EPS.
Several other brokerages have also issued reports on NDSN. Barrington Research reiterated a “market perform” rating on shares of Nordson in a research report on Tuesday. KeyCorp reiterated a “buy” rating and issued a $165.00 target price (up from $145.00) on shares of Nordson in a research report on Wednesday, January 3rd. Gabelli lowered shares of Nordson from a “buy” rating to a “hold” rating in a research report on Friday, December 15th. Oppenheimer reiterated a “hold” rating on shares of Nordson in a research report on Thursday, December 14th. Finally, Zacks Investment Research upgraded shares of Nordson from a “sell” rating to a “hold” rating in a research report on Thursday, December 14th. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Nordson presently has a consensus rating of “Buy” and an average target price of $147.40.
Shares of Nordson (NASDAQ NDSN) traded up $1.03 during trading hours on Thursday, reaching $148.46. 163,835 shares of the company traded hands, compared to its average volume of 239,233. Nordson has a one year low of $107.16 and a one year high of $151.84. The stock has a market capitalization of $8,513.43, a price-to-earnings ratio of 29.22, a PEG ratio of 1.60 and a beta of 1.39. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.37 and a quick ratio of 0.96.
Nordson (NASDAQ:NDSN) last announced its earnings results on Wednesday, December 13th. The industrial products company reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.05. Nordson had a net margin of 14.31% and a return on equity of 30.54%. The company had revenue of $574.00 million during the quarter, compared to analyst estimates of $546.76 million. During the same period in the previous year, the business earned $1.39 earnings per share. The firm’s quarterly revenue was up 12.8% compared to the same quarter last year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 2nd. Shareholders of record on Tuesday, December 19th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 0.81%. The ex-dividend date was Monday, December 18th. Nordson’s dividend payout ratio is presently 23.62%.
In other Nordson news, VP Shelly Peet sold 15,000 shares of the business’s stock in a transaction on Thursday, January 4th. The shares were sold at an average price of $148.90, for a total value of $2,233,500.00. Following the completion of the sale, the vice president now directly owns 29,170 shares of the company’s stock, valued at $4,343,413. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael F. Hilton sold 12,142 shares of the business’s stock in a transaction on Friday, January 5th. The stock was sold at an average price of $149.98, for a total transaction of $1,821,057.16. The disclosure for this sale can be found here. Insiders sold 78,797 shares of company stock valued at $11,760,192 over the last three months. 2.15% of the stock is currently owned by insiders.
Several large investors have recently modified their holdings of NDSN. Victory Capital Management Inc. raised its stake in shares of Nordson by 22.6% during the second quarter. Victory Capital Management Inc. now owns 11,073 shares of the industrial products company’s stock valued at $1,343,000 after acquiring an additional 2,039 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Nordson by 10.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,084 shares of the industrial products company’s stock valued at $253,000 after acquiring an additional 200 shares during the last quarter. Swiss National Bank raised its stake in shares of Nordson by 1.6% during the second quarter. Swiss National Bank now owns 86,327 shares of the industrial products company’s stock valued at $10,473,000 after acquiring an additional 1,400 shares during the last quarter. Schroder Investment Management Group raised its stake in shares of Nordson by 5,890.5% during the second quarter. Schroder Investment Management Group now owns 125,800 shares of the industrial products company’s stock valued at $14,979,000 after acquiring an additional 123,700 shares during the last quarter. Finally, Franklin Resources Inc. bought a new position in shares of Nordson during the second quarter valued at about $971,000. 65.67% of the stock is owned by hedge funds and other institutional investors.
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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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