03:55 PM EDT, 05/21/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

Shares trended lower following April-Q results, with NDSN cutting its FY 2024 EPS guidance range to $9.35-$9.75 from the previous outlook of $10.00-$10.50. We cut our 12-month target to $250 from $262, valuing NDSN shares at 24.4x our FY 25 (Oct.) EPS forecast of $10.24 (in line with previous outlook; we adjust our 2024 EPS estimate to $9.61 from $10.02), near the long-term historical forward average. NDSN posted April-Q operating EPS of $2.34 (up 3% Y/Y), $0.02 beyond the consensus expectation of $2.32. April-Q sales were flat compared to the previous year, with a 22% drop in Advanced Tech Solutions (18% of April-Q sales) offsetting a 9% rise in Industrial Precision revenues (56% of sales). On an organic basis, sales contracted 4%, primarily from ongoing weakness in electronic product lines within Advanced Tech, as well as softness in agricultural end markets, which we see continuing into 2H. Margins were mixed, with a 200-bp rise in gross margins offset by higher SG&A costs related to the ARAG acquisition.