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Nordstrom (NYSE:JWN)‘s stock had its “neutral” rating reaffirmed by Zacks in a research note issued on Monday. They currently have a $73.00 target price on the stock. Zacks‘s target price indicates a potential upside of 5.42% from the stock’s previous close.

Zacks’ analyst wrote, “We are encouraged by Nordstrom’s better-than-expected second-quarter fiscal 2014 results. The company’s customer strategy continued to flourish reflecting growth across channels, along with efficient inventory and expense management. Moreover, we believe that the company’s store expansion initiatives and entry into the Canadian market will boost its top-line in the long run. However, the company’s projections for fiscal 2014 reflect higher costs across the board due to the ongoing investments, which will likely weigh on its margins in the short run. Moreover, we are cautious about the company’s growth prospects due to the soft economic recovery, intense competition and exposure to seasonal fluctuations. Hence, we retain our long-term Neutral recommendation on the stock.”

Nordstrom (NYSE:JWN) traded down 0.56% on Monday, hitting $69.25. 920,048 shares of the company’s stock traded hands. Nordstrom has a 52-week low of $54.90 and a 52-week high of $70.71. The stock has a 50-day moving average of $68.62 and a 200-day moving average of $65.11. The company has a market cap of $13.061 billion and a P/E ratio of 18.64.

Nordstrom (NYSE:JWN) last issued its quarterly earnings data on Thursday, August 14th. The company reported $0.95 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.94 by $0.01. The company had revenue of $3.30 billion for the quarter, compared to the consensus estimate of $3.39 billion. On average, analysts predict that Nordstrom will post $3.88 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which is scheduled for Wednesday, September 17th. Shareholders of record on Tuesday, September 2nd will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date of this dividend is Thursday, August 28th.

JWN has been the subject of a number of other recent research reports. Analysts at Deutsche Bank reiterated a “buy” rating on shares of Nordstrom in a research note on Friday, August 15th. They now have a $77.00 price target on the stock, down previously from $78.00. Separately, analysts at Topeka Capital Markets raised their price target on shares of Nordstrom from $75.00 to $78.00 in a research note on Tuesday, August 12th. They now have a “buy” rating on the stock. Twelve investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $70.35.

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.

To view Zacks’ full report, visit Zacks’ official website.

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