Wall Street analysts predict that Nordstrom, Inc. (NYSE:JWN) will announce earnings of $0.63 per share for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have provided estimates for Nordstrom’s earnings, with estimates ranging from $0.56 to $0.72. Nordstrom posted earnings per share of $0.67 during the same quarter last year, which would indicate a negative year-over-year growth rate of 6%. The company is scheduled to issue its next earnings results on Thursday, November 8th.
On average, analysts expect that Nordstrom will report full year earnings of $3.55 per share for the current year, with EPS estimates ranging from $3.43 to $3.65. For the next fiscal year, analysts expect that the company will report earnings of $3.68 per share, with EPS estimates ranging from $3.50 to $3.93. Zacks’ EPS calculations are an average based on a survey of sell-side research analysts that cover Nordstrom.
Nordstrom (NYSE:JWN) last issued its quarterly earnings data on Thursday, August 16th. The specialty retailer reported $0.95 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.84 by $0.11. The company had revenue of $3.98 billion for the quarter, compared to the consensus estimate of $3.96 billion. Nordstrom had a net margin of 3.24% and a return on equity of 56.00%. The firm’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.65 earnings per share.
A number of research analysts recently weighed in on JWN shares. UBS Group began coverage on shares of Nordstrom in a research report on Thursday, June 21st. They set a “buy” rating on the stock. Tigress Financial reiterated a “buy” rating on shares of Nordstrom in a research report on Tuesday, June 19th. Zacks Investment Research upgraded shares of Nordstrom from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a research report on Tuesday, May 15th. Deutsche Bank upgraded shares of Nordstrom from a “hold” rating to a “buy” rating and increased their price target for the stock from $52.00 to $55.00 in a research report on Wednesday, May 23rd. Finally, ValuEngine upgraded shares of Nordstrom from a “hold” rating to a “buy” rating in a research report on Monday. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating and six have assigned a buy rating to the company. Nordstrom presently has an average rating of “Hold” and an average target price of $54.72.
Nordstrom stock traded down $0.21 during midday trading on Tuesday, reaching $61.35. 4,429,200 shares of the company traded hands, compared to its average volume of 2,266,924. The company has a market cap of $9.91 billion, a price-to-earnings ratio of 20.52, a price-to-earnings-growth ratio of 2.75 and a beta of 0.82. Nordstrom has a 12 month low of $37.79 and a 12 month high of $62.05. The company has a quick ratio of 0.54, a current ratio of 1.10 and a debt-to-equity ratio of 2.35.
In other news, insider James F. Nordstrom, Jr. sold 37,880 shares of the stock in a transaction on Friday, June 29th. The shares were sold at an average price of $52.55, for a total value of $1,990,594.00. Following the completion of the sale, the insider now directly owns 481,285 shares of the company’s stock, valued at $25,291,526.75. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Robert Sari sold 7,671 shares of the stock in a transaction on Friday, August 17th. The stock was sold at an average price of $55.65, for a total transaction of $426,891.15. Following the completion of the sale, the vice president now directly owns 25,178 shares of the company’s stock, valued at $1,401,155.70. The disclosure for this sale can be found here. Insiders sold 170,254 shares of company stock worth $9,055,994 over the last quarter. Insiders own 7.05% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. increased its stake in shares of Nordstrom by 7.1% in the second quarter. BlackRock Inc. now owns 8,931,836 shares of the specialty retailer’s stock worth $462,490,000 after purchasing an additional 592,278 shares in the last quarter. Schwab Charles Investment Management Inc. increased its stake in shares of Nordstrom by 3.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,032,291 shares of the specialty retailer’s stock worth $53,453,000 after purchasing an additional 37,057 shares in the last quarter. Bank of Montreal Can purchased a new stake in shares of Nordstrom in the second quarter worth $50,353,000. Millennium Management LLC increased its stake in shares of Nordstrom by 199.1% in the second quarter. Millennium Management LLC now owns 945,422 shares of the specialty retailer’s stock worth $48,954,000 after purchasing an additional 629,307 shares in the last quarter. Finally, Smead Capital Management Inc. increased its stake in shares of Nordstrom by 0.6% in the first quarter. Smead Capital Management Inc. now owns 884,948 shares of the specialty retailer’s stock worth $42,840,000 after purchasing an additional 5,416 shares in the last quarter. 54.99% of the stock is owned by hedge funds and other institutional investors.
Nordstrom Company Profile
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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