Several brokerages have updated their recommendations and price targets on shares of Nordstrom (NYSE: JWN) in the last few weeks:

  • 1/11/2017 – Nordstrom was downgraded by analysts at Vetr from a “strong-buy” rating to a “buy” rating. They now have a $50.90 price target on the stock.
  • 1/10/2017 – Nordstrom was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $50.00 price target on the stock. According to Zacks, “Nordstrom’s stock movement has crushed the Zacks categorized industry, in the last six months. The company, with its strong brand image, amendments to operating model to generate cost savings, and continuous store expansion efforts remain its driving factors. The company’s progress on its 2020 strategy also bodes well. Further, we believe Nordstrom’s technological advancements; efforts to enhance supply-chain network and marketing endeavors should further its overall growth. Backed by these factors and a solid third quarter, the company also raised its fiscal 2016 view, raising confidence in its future prospects. However, the company’s presence in the consumer-driven apparel space, keeps it exposed to the risks of changing tastes, preferences and spending behavior of consumers. Also, stiff competition remains a threat to margins. Estimates have been stable lately ahead of the fourth-quarter earnings release.”
  • 1/9/2017 – Nordstrom was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Nordstrom’s stock movement has crushed the Zacks categorized industry, in the last six months. The company, with its strong brand image, amendments to operating model to generate cost savings, and continuous store expansion efforts remain its driving factors. The company’s progress on its 2020 strategy also bodes well. Further, we believe Nordstrom’s technological advancements; efforts to enhance supply-chain network and marketing endeavors should further its overall growth. Backed by these factors and a solid third quarter, the company also raised its fiscal 2016 view, raising confidence in its future prospects. However, the company’s presence in the consumer-driven apparel space, keeps it exposed to the risks of changing tastes, preferences and spending behavior of consumers. Also, stiff competition remains a threat to margins. Estimates have been stable lately ahead of the fourth-quarter earnings release.”
  • 1/5/2017 – Nordstrom was given a new $59.00 price target on by analysts at RBC Capital Markets. They now have a “hold” rating on the stock.
  • 1/5/2017 – Nordstrom was downgraded by analysts at Vetr from a “strong-buy” rating to a “buy” rating. They now have a $50.90 price target on the stock.
  • 12/16/2016 – Nordstrom was downgraded by analysts at J P Morgan Chase & Co from a “neutral” rating to an “underweight” rating. They now have a $48.00 price target on the stock, down previously from $55.00.
  • 12/6/2016 – Nordstrom had its “neutral” rating reaffirmed by analysts at Credit Suisse Group. They now have a $48.00 price target on the stock.
  • 11/30/2016 – Nordstrom had its “outperform” rating reaffirmed by analysts at Cowen and Company. They now have a $55.00 price target on the stock.
  • 11/14/2016 – Nordstrom was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $66.00 price target on the stock. According to Zacks, “Nordstrom posted solid results for third-quarter fiscal 2016, wherein the bottom line marked its second consecutive beat and the top line crushed estimates after four straight misses. While earnings were driven by strong sales, solid inventory alignment and operational efficiencies, the top line was fuelled by favorable shift of the company’s grand Anniversary Sale event. Further, gross margin expansion and SG&A expense leverage largely aided the quarterly performance. All these factors encouraged management to raise its fiscal 2016 earnings outlook, which in turned pushed estimates upward. Also, Nordstrom’s strong brand image, amendments to its operating model to generate cost savings, and constant store expansion efforts remain driving factors. However, stiff competition from other departmental retailers remains a threat for the company. Sluggishness in consumer traffic also poses a concern.”
  • 11/14/2016 – Nordstrom had its “hold” rating reaffirmed by analysts at BMO Capital Markets.

Nordstrom, Inc. (NYSE:JWN) traded down 1.69% during trading on Wednesday, reaching $44.90. 3,031,350 shares of the company’s stock traded hands. The company has a market cap of $7.78 billion, a PE ratio of 23.90 and a beta of 1.00. The company has a 50 day moving average price of $53.16 and a 200-day moving average price of $50.06. Nordstrom, Inc. has a 12-month low of $35.01 and a 12-month high of $62.82.

Nordstrom (NYSE:JWN) last issued its earnings results on Thursday, November 10th. The company reported $0.84 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.32. The business had revenue of $3.47 billion for the quarter, compared to the consensus estimate of $3.49 billion. Nordstrom had a net margin of 2.28% and a return on equity of 58.85%. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.57 earnings per share. On average, equities research analysts forecast that Nordstrom, Inc. will post $2.95 EPS for the current fiscal year.

This article was originally published by and is the sole property of American Banking News. If you happen to be reading this article on another website, it was stolen and illegally republished in violation of U.S. and International copyright law. The original version of this story can be read at https://www.americanbankingnews.com/2017/01/11/analysts-recent-ratings-changes-for-nordstrom-jwn.html

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 13th. Stockholders of record on Monday, November 28th were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 3.30%. The ex-dividend date of this dividend was Wednesday, November 23rd. Nordstrom’s payout ratio is 79.14%.

In other news, insider Scott A. Meden sold 5,000 shares of Nordstrom stock in a transaction dated Wednesday, December 7th. The shares were sold at an average price of $60.00, for a total value of $300,000.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, President Blake W. Nordstrom sold 42,847 shares of Nordstrom stock in a transaction dated Monday, November 14th. The shares were sold at an average price of $60.00, for a total transaction of $2,570,820.00. The disclosure for this sale can be found here. 7.03% of the stock is currently owned by insiders.

Nordstrom, Inc is a fashion specialty retailer in the United States. The company operates through two segments: Retail and Credit. The Retail segment includes approximately 123 Nordstrom branded full-line stores in the United States and Nordstrom.com, approximately 215 off-price Nordstrom Rack stores, two Canada full-line stores, Nordstromrack.com and HauteLook, and other retail channels, including five Trunk Club showrooms and TrunkClub.com, its two Jeffrey boutiques and one clearance store that operates under the name Last Chance.

5 Day Chart for NYSE:JWN

Receive News & Ratings for Nordstrom Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nordstrom Inc and related companies with MarketBeat.com's FREE daily email newsletter.