Nordstrom PT Lowered to $63.00 (JWN)
Investment analysts at Deutsche Bank reduced their price objective on shares of Nordstrom (NYSE:JWN) from $65.00 to $63.00 in a note issued to investors on Tuesday, American Banking News reports. The firm currently has a “buy” rating on the stock. Deutsche Bank’s price objective points to a potential upside of 6.73% from the company’s current price.
A number of other analysts have also recently weighed in on JWN. Analysts at Wells Fargo & Co. reiterated a “neutral” rating on shares of Nordstrom in a research note to investors on Monday, October 14th. Separately, analysts at Pacific Crest initiated coverage on shares of Nordstrom in a research note to investors on Friday, September 27th. They set an “outperform” rating and a $67.00 price target on the stock. Finally, analysts at Macquarie upgraded shares of Nordstrom from a “neutral” rating to an “outperform” rating in a research note to investors on Wednesday, September 25th. They now have a $66.00 price target on the stock, up previously from $60.00. Eight equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The company has an average rating of “Buy” and an average target price of $65.50.
Nordstrom (NYSE:JWN) traded up 0.32% on Tuesday, hitting $59.03. The stock had a trading volume of 842,562 shares. Nordstrom has a 52 week low of $50.94 and a 52 week high of $63.34. The stock’s 50-day moving average is $56.98 and its 200-day moving average is $58.49. The company has a market cap of $11.504 billion and a P/E ratio of 15.54.
Nordstrom (NYSE:JWN) last posted its quarterly earnings results on Thursday, August 15th. The company reported $0.93 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.88 by $0.05. The company had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.29 billion. During the same quarter in the prior year, the company posted $0.75 earnings per share. The company’s quarterly revenue was up 6.4% on a year-over-year basis. Analysts expect that Nordstrom will post $3.68 EPS for the current fiscal year.
Nordstrom, Inc is a fashion specialty retailer, with 225 the United States stores located in 30 states as of March 16, 2012.
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