NEW YORK (TheStreet) -- Nordson(NDSN) - Get Report stock is up by 13.32% to $86.33 on heavy trading volume Tuesday afternoon, after the company reported better-than-expected 2016 second quarter results and issued a strong outlook for the current quarter.
After yesterday's market close, the industrial machinery company reported second quarter earnings of $1.23 per share, above analysts' estimates for 92 cents per share.
Revenue increased by 9% year-over-year to $438 million for the most recent period, beating analysts' estimates for $415.5 million.
For the current quarter, Nordson expects earnings to range between $1.25 and $1.37 per share vs. analysts' forecast for $1.23 per share. Nordson said that third quarter revenue should rise between 1% and 5%, while analysts' are looking for revenue of $473.8 million.
About 1.09 million shares of Nordson have been traded so far today, well above the company's average trading volume of roughly 252,460 shares per day.
Separately, TheStreet Ratings team rates the stock as a "buy" with a ratings score of B.
Nordson's strengths such as its notable return on equity, good cash flow from operations, expanding profit margins and growth in earnings per share outweigh the fact that the company has had lackluster performance in the stock itself.
You can view the full analysis from the report here: NDSN
TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author.