Nordstrom, Inc. (NYSE:JWN) – Investment analysts at Wedbush decreased their Q3 2019 earnings per share estimates for shares of Nordstrom in a report released on Friday, August 17th. Wedbush analyst J. Redding now forecasts that the specialty retailer will post earnings of $0.70 per share for the quarter, down from their previous estimate of $0.74. Wedbush currently has a “Neutral” rating and a $55.00 price target on the stock. Wedbush also issued estimates for Nordstrom’s Q4 2019 earnings at $1.41 EPS and FY2020 earnings at $3.67 EPS.
Nordstrom (NYSE:JWN) last issued its quarterly earnings results on Thursday, August 16th. The specialty retailer reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.11. The company had revenue of $3.98 billion for the quarter, compared to analyst estimates of $3.96 billion. Nordstrom had a return on equity of 55.75% and a net margin of 2.96%. The company’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.65 earnings per share.
JWN has been the topic of several other research reports. Nomura upped their target price on Nordstrom from $54.00 to $59.00 and gave the stock a “neutral” rating in a report on Friday. ValuEngine lowered Nordstrom from a “hold” rating to a “sell” rating in a report on Friday, May 11th. Guggenheim reiterated a “hold” rating on shares of Nordstrom in a report on Thursday. Deutsche Bank upped their target price on Nordstrom from $56.00 to $61.00 and gave the stock a “buy” rating in a report on Friday. Finally, Piper Jaffray Companies reiterated a “hold” rating and set a $49.00 target price on shares of Nordstrom in a report on Friday. Three research analysts have rated the stock with a sell rating, fifteen have given a hold rating and five have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $54.72.
Shares of Nordstrom stock opened at $59.18 on Monday. Nordstrom has a one year low of $37.79 and a one year high of $59.25. The stock has a market capitalization of $8.80 billion, a PE ratio of 19.99, a PEG ratio of 2.55 and a beta of 0.82. The company has a debt-to-equity ratio of 2.50, a quick ratio of 0.44 and a current ratio of 1.09.
Large investors have recently added to or reduced their stakes in the business. DnB Asset Management AS bought a new stake in Nordstrom in the second quarter valued at approximately $578,000. GWM Advisors LLC raised its stake in Nordstrom by 17.8% in the first quarter. GWM Advisors LLC now owns 7,960 shares of the specialty retailer’s stock valued at $378,000 after buying an additional 1,200 shares during the period. XR Securities LLC bought a new stake in Nordstrom in the second quarter valued at approximately $236,000. Cubist Systematic Strategies LLC bought a new stake in Nordstrom in the first quarter valued at approximately $1,443,000. Finally, Raymond James Financial Services Advisors Inc. raised its stake in Nordstrom by 3.0% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 41,073 shares of the specialty retailer’s stock valued at $2,127,000 after buying an additional 1,202 shares during the period. Hedge funds and other institutional investors own 55.96% of the company’s stock.
In other Nordstrom news, insider Peter E. Nordstrom sold 118,161 shares of the company’s stock in a transaction that occurred on Monday, July 9th. The stock was sold at an average price of $53.27, for a total value of $6,294,436.47. Following the sale, the insider now owns 2,525,740 shares in the company, valued at $134,546,169.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Erik B. Nordstrom sold 3,379 shares of the company’s stock in a transaction that occurred on Monday, June 11th. The shares were sold at an average price of $53.00, for a total value of $179,087.00. The disclosure for this sale can be found here. Insiders sold 170,254 shares of company stock worth $9,055,994 in the last 90 days. Corporate insiders own 7.05% of the company’s stock.
Nordstrom, Inc, a fashion retailer, provides apparel, shoes, cosmetics, and accessories for women, men, young adults, and children in the United States and Canada. The company operates in two segments, Retail and Credit. The Retail segment offers a range of brand name and private label merchandise through various channels, including Nordstrom branded full-line stores and online store at Nordstrom.com; Nordstrom Rack stores; Nordstromrack.com and HauteLook; Trunk Club clubhouses and TrunkClub.com; Jeffrey boutiques; and clearance stores that operate under the Last Chance name.
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