William Blair Weighs in on Nordstrom, Inc.’s Q3 2019 Earnings (JWN)

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Nordstrom, Inc. (NYSE:JWN) – Research analysts at William Blair dropped their Q3 2019 EPS estimates for Nordstrom in a research note issued to investors on Thursday, August 16th. William Blair analyst D. Carden now anticipates that the specialty retailer will post earnings of $0.62 per share for the quarter, down from their prior forecast of $0.72. William Blair also issued estimates for Nordstrom’s FY2019 earnings at $3.65 EPS, Q3 2020 earnings at $0.67 EPS and FY2020 earnings at $3.90 EPS.

Several other equities analysts have also weighed in on JWN. Nomura increased their price objective on Nordstrom from $54.00 to $59.00 and gave the company 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 reissued a “hold” rating on shares of Nordstrom in a report on Thursday, August 16th. Deutsche Bank increased their price objective on Nordstrom from $56.00 to $61.00 and gave the company a “buy” rating in a report on Friday. Finally, Piper Jaffray Companies reissued a “hold” rating and set a $49.00 price objective on shares of Nordstrom in a report on Friday. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and six have assigned a buy rating to the stock. Nordstrom presently has a consensus rating of “Hold” and an average price target of $54.72.

JWN stock opened at $61.56 on Monday. The company has a market capitalization of $8.80 billion, a PE ratio of 20.80, a price-to-earnings-growth ratio of 2.55 and a beta of 0.82. The company has a debt-to-equity ratio of 2.50, a current ratio of 1.09 and a quick ratio of 0.44. Nordstrom has a 12-month low of $37.79 and a 12-month high of $61.73.

Nordstrom (NYSE:JWN) last released its earnings results on Thursday, August 16th. The specialty retailer reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.11. The company had revenue of $3.98 billion during 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%. Nordstrom’s quarterly revenue was up 7.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.65 earnings per share.

In other news, insider Peter E. Nordstrom sold 118,161 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider now directly owns 2,525,740 shares of the company’s stock, valued at $134,546,169.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Robert Sari sold 7,671 shares of the firm’s stock in a transaction on Friday, August 17th. The stock was sold at an average price of $55.65, for a total value of $426,891.15. Following the completion of the transaction, 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 valued at $9,055,994 over the last ninety days. Corporate insiders own 7.05% of the company’s stock.

Several institutional investors have recently bought and sold shares of JWN. Centaurus Financial Inc. bought a new position in shares of Nordstrom in the second quarter worth $112,000. Kiley Juergens Wealth Management LLC purchased a new stake in shares of Nordstrom in the second quarter worth $118,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Nordstrom in the first quarter worth $124,000. Whittier Trust Co. purchased a new stake in shares of Nordstrom in the second quarter worth $147,000. Finally, Perigon Wealth Management LLC purchased a new stake in shares of Nordstrom in the first quarter worth $152,000. 55.96% 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.

Further Reading: Outstanding Shares and The Effect on Share Price

Earnings History and Estimates for Nordstrom (NYSE:JWN)

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