Analysts expect Nordstrom, Inc. (NYSE:JWN) to post earnings per share (EPS) of $0.43 for the current quarter, according to Zacks Investment Research. Six analysts have made estimates for Nordstrom’s earnings. The lowest EPS estimate is $0.36 and the highest is $0.51. Nordstrom posted earnings of $0.51 per share during the same quarter last year, which suggests a negative year over year growth rate of 15.7%. The business is expected to issue its next earnings report after the market closes on Tuesday, May 21st.
On average, analysts expect that Nordstrom will report full year earnings of $3.72 per share for the current financial year, with EPS estimates ranging from $3.51 to $3.85. For the next fiscal year, analysts forecast that the firm will post earnings of $3.94 per share, with EPS estimates ranging from $3.72 to $4.11. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research analysts that follow Nordstrom.
Nordstrom (NYSE:JWN) last released its earnings results on Thursday, February 28th. The specialty retailer reported $1.48 EPS for the quarter, topping the Zacks’ consensus estimate of $1.42 by $0.06. The company had revenue of $4.48 billion for the quarter, compared to analysts’ expectations of $4.63 billion. Nordstrom had a return on equity of 57.14% and a net margin of 3.56%. During the same period in the previous year, the business posted $1.20 EPS.
A number of research firms have recently commented on JWN. Bank of America reiterated an “underperform” rating and set a $40.00 target price (down from $48.00) on shares of Nordstrom in a research note on Wednesday. Zacks Investment Research cut Nordstrom from a “buy” rating to a “hold” rating in a research note on Monday, May 13th. Wedbush cut Nordstrom from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $65.00 to $40.00 in a research note on Thursday, May 9th. ValuEngine cut Nordstrom from a “sell” rating to a “strong sell” rating in a research note on Monday, April 29th. Finally, Gordon Haskett cut Nordstrom from a “hold” rating to an “underperform” rating and set a $43.00 price objective on the stock. in a research note on Thursday, March 21st. Four research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $49.69.
Shares of NYSE JWN traded up $0.16 during mid-day trading on Friday, reaching $37.09. 2,421,940 shares of the company’s stock were exchanged, compared to its average volume of 2,721,655. The stock has a market capitalization of $5.72 billion, a price-to-earnings ratio of 10.45, a PEG ratio of 1.65 and a beta of 0.48. Nordstrom has a 52 week low of $36.37 and a 52 week high of $67.75. The company has a debt-to-equity ratio of 3.07, a current ratio of 1.00 and a quick ratio of 0.41.
In related news, insider Erik B. Nordstrom sold 1,169 shares of the business’s stock in a transaction dated Monday, February 25th. The stock was sold at an average price of $44.70, for a total value of $52,254.30. Following the sale, the insider now directly owns 2,671,406 shares in the company, valued at approximately $119,411,848.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ken Worzel sold 17,125 shares of Nordstrom stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $45.00, for a total value of $770,625.00. Following the transaction, the insider now directly owns 102,588 shares of the company’s stock, valued at approximately $4,616,460. The disclosure for this sale can be found here. Insiders sold a total of 49,180 shares of company stock worth $2,164,864 over the last 90 days. 5.21% of the stock is currently owned by company insiders.
A number of hedge funds have recently bought and sold shares of JWN. Oregon Public Employees Retirement Fund grew its holdings in Nordstrom by 4,156.2% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,898,862 shares of the specialty retailer’s stock valued at $62,000 after buying an additional 2,830,753 shares in the last quarter. Boston Partners grew its holdings in Nordstrom by 57.5% during the 4th quarter. Boston Partners now owns 6,346,355 shares of the specialty retailer’s stock valued at $295,804,000 after buying an additional 2,318,179 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Nordstrom by 23.0% during the 1st quarter. JPMorgan Chase & Co. now owns 7,339,382 shares of the specialty retailer’s stock valued at $325,721,000 after buying an additional 1,374,779 shares in the last quarter. Renaissance Technologies LLC purchased a new position in Nordstrom during the 1st quarter valued at about $57,872,000. Finally, Norges Bank purchased a new position in Nordstrom during the 4th quarter valued at about $55,352,000. 63.33% of the stock is owned by institutional investors and hedge funds.
Nordstrom, Inc, a fashion retailer, provides apparel, shoes, cosmetics, and accessories for women, men, young adults, and children. It offers a range of brand name and private label merchandise through various channels, such as Nordstrom branded full-line stores and online store at Nordstrom.com; Nordstrom Rack stores; Nordstromrack.com and HauteLook; Jeffrey boutiques; clearance stores that operate under the Last Chance name; Trunk Club clubhouses and TrunkClub.com; and Nordstrom Locals.
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