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Nordson Corporation (NDSN - Snapshot Report) sees higher
estimates following several beats making the stock a Zacks
#2 Rank (Buy).
Nordson Corporation is one of the world's leading producers of
precision dispensing equipment that applies adhesives, sealants
and coatings to a broad range of consumer and industrial products
during manufacturing operations. The company also manufactures
technology-based systems for curing and surface treatment
processes. Headquartered in Westlake, Ohio, Nordson has more than
3,800 employees worldwide, and direct
operations and sales support offices in thirty countries. The
company was founded in 1935.
Nordson Corporation Tops Earnings Estimates in Six of Last
Nordson Corporation has topped earnings estimates in six of the
last seven quarters. Over the course of the last seven quarters,
the company has topped the Zacks Consensus Estimate by an average
of $0.04 or almost 7.5%. The stock moved lower following four of
seven reports, including two large moves following the earnings
miss and the subsequent quarter.
The lone miss occurred in August of 2011 when the company reported
earnings for the July 2011 quarter. The eight cent miss was a 9%
negative earnings surprise and caused the stock price to move
lower by a little more than 10%.
Nordson Corporation Most Recent Reported Earnings
On February 23, 2012 the company reported revenue of $276
million, roughly $2 million ahead of the Zacks Consensus Estimate
and up from $271 million reported in year ago quarter. In
addition, earnings per
share came in at $0.62, $0.02 higher than
the Zacks Consensus Estimate of $0.60. The beat of 3.3% was the
smaller than the beat in the previous quarter of 6%, but the stock
moved higher by 5% compared to a 12% slide following the October
2011 earnings report.
Nordson Corporation Sees Earnings Estimates Increase
Following the most recent earnings release, Nordson Corporation
has seen its earnings estimates move higher. In March 2012 the
Zacks Consensus Estimate was calling for 2012 earnings of $3.18.
Following the most recent beat of $0.02, estimates for the year
moved higher by $0.07 to $3.25.
The valuation picture for Nordson Corporation shows what you would
expect from an industry leader. The trailing and forward PE of 16x
is higher than the industry average of 12x and 10x respectively.
The price to book multiple appears a little lofty at 6.2x compared
to an industry average of 2.2x and the price to sales multiple of
2.8x is well ahead of the 0.8x industry average. This sort of
valuation will likely not attract any value investors, but
aggressive growth investors will see that there is room for
The price and consensus chart shows how the stock closely followed
the movement of the future earnings estimates throughout much of
2099 and 2010 and early 2011. The stock has seen some compression
of its multiples in late 2011 but has since seen a recovery in the
form of higher earnings estimates. Nordson Corporation is Zacks #2
Brian Bolan is the Aggressive Growth Stock Strategist
Zacks.com. He is also the Editor in charge of the Zacks Home Run Investor
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