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Valued at $14.1 billion by market cap, Nordson Corporation (NDSN) is a leading provider of advanced systems for dispensing and controlling adhesives, coatings, and other fluids in the industrial technology sector. The Westlake, Ohio-based company is expected to announce its fiscal Q3 earnings results on Monday, Aug. 19.
Ahead of the upcoming event, analysts forecast the dispensing equipment maker to report a profit of $2.33 per share, slightly down from $2.35 per share in the previous year's quarter. The company has surpassed Wall Street's bottom-line estimates in each of the past four quarters. In the most recent quarter, the company reported an EPS of $2.34, exceeding the consensus estimate by a margin of 1.7%.
For fiscal 2024, analysts expect NDSN to report EPS of $9.52, a 5.4% increase from $9.03 in fiscal 2023.
NDSN stock plunged 7.3% on a YTD basis, lagging behind the broader S&P 500 Index's ($SPX) 14.5% rise and the S&P 500 Industrial Sector SPDR's (XLI) roughly 11.3% gain over the same period.
Nordson's shares dipped 9.4% following its Q2 earnings release on May 20, primarily due to the company's revised full-year revenue forecast and disappointing outlook for the remainder of 2024, driven by a slow recovery in the electronics and semiconductor markets. Additionally, the company’s adjusted profit guidance for 2024 missed analyst expectations, and its Advanced Technology Solutions unit reported a significant 22% drop in sales.
Analysts' consensus rating on Nordson stock is cautiously optimistic, with a "Moderate Buy" rating overall. Among eight analysts covering the stock, opinions include three "Strong Buys" and five "Holds." This configuration has remained steady over the past three months.
The average analyst price target for NDSN is $272.80, suggesting a potential upside of just 10.9% from current levels.
On the date of publication, Sohini Mondal did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
