Nordstrom PT Raised to $75.00 (JWN)
RBC Capital hoisted their target price on shares of Nordstrom (NYSE:JWN) from $67.00 to $75.00 in a research note issued on Friday, Stock Ratings News reports. The firm currently has an “outperform” rating on the stock. RBC Capital’s target price indicates a potential upside of 21.97% from the stock’s previous close.
In other Nordstrom news, EVP Peter Nordstrom sold 40,984 shares of the company’s stock on the open market in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $62.82, for a total value of $2,574,614.88. Following the completion of the transaction, the executive vice president now directly owns 2,101,551 shares of the company’s stock, valued at approximately $132,019,434. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
A number of other firms have also recently commented on JWN. Analysts at Topeka Capital Markets raised their price target on shares of Nordstrom from $68.00 to $73.00 in a research note on Friday. They now have a “buy” rating on the stock. Separately, analysts at McAdams Wright Ragen downgraded shares of Nordstrom from a “buy” rating to a “hold” rating in a research note on Wednesday, April 30th. They noted that the move was a valuation call. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Nordstrom in a research note on Wednesday, March 19th. They now have a $66.00 price target on the stock. Twelve equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $65.61.
Shares of Nordstrom (NYSE:JWN) opened at 61.49 on Friday. Nordstrom has a 1-year low of $54.90 and a 1-year high of $64.19. The stock has a 50-day moving average of $61.79 and a 200-day moving average of $60.93. The company has a market cap of $11.664 billion and a price-to-earnings ratio of 16.68. Nordstrom also was the target of unusually large options trading activity on Thursday. Stock traders bought 15,620 put options on the stock. This represents an increase of approximately 761% compared to the typical volume of 1,814 put options.
Nordstrom (NYSE:JWN) last issued its quarterly earnings data on Thursday, May 15th. The company reported $0.72 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.68 by $0.04. The company had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.86 billion. On average, analysts predict that Nordstrom will post $3.85 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, June 13th. Shareholders of record on Friday, May 30th will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 2.15%. The ex-dividend date is Wednesday, May 28th.
Nordstrom, Inc is a fashion specialty retailer. As of March 18, 2013, the Company operates 242 United States stores located in 31 states, as well as an e-commerce business through nordstrom.
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