$3.72 Billion in Sales Expected for Nordstrom, Inc. (JWN) This Quarter
Brokerages predict that Nordstrom, Inc. (NYSE:JWN) will announce $3.72 billion in sales for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Nordstrom’s earnings, with the lowest sales estimate coming in at $3.70 billion and the highest estimate coming in at $3.75 billion. Nordstrom reported sales of $3.65 billion during the same quarter last year, which indicates a positive year over year growth rate of 1.9%. The firm is expected to report its next earnings report after the market closes on Thursday, August 10th.
On average, analysts expect that Nordstrom will report full-year sales of $3.72 billion for the current fiscal year, with estimates ranging from $15.03 billion to $15.31 billion. For the next year, analysts expect that the business will report sales of $15.48 billion per share, with estimates ranging from $15.27 billion to $15.78 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that cover Nordstrom.
JWN has been the topic of a number of research analyst reports. TheStreet lowered shares of Nordstrom from a “b-” rating to a “c” rating in a report on Thursday, May 11th. Atlantic Securities upgraded shares of Nordstrom from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $45.00 to $58.00 in a report on Thursday, May 4th. Vetr upgraded shares of Nordstrom from a “hold” rating to a “buy” rating and set a $48.92 price target on the stock in a report on Tuesday, April 4th. BMO Capital Markets reiterated a “hold” rating and issued a $50.00 price target on shares of Nordstrom in a report on Monday, March 27th. Finally, Zacks Investment Research upgraded shares of Nordstrom from a “sell” rating to a “hold” rating in a report on Wednesday, May 10th. Four research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and five have assigned a buy rating to the company. Nordstrom has a consensus rating of “Hold” and an average target price of $47.06.
Shares of Nordstrom (JWN) opened at 48.00 on Friday. The firm has a 50-day moving average price of $44.51 and a 200-day moving average price of $46.15. Nordstrom has a 12 month low of $35.01 and a 12 month high of $62.82. The stock has a market cap of $7.97 billion, a price-to-earnings ratio of 22.47 and a beta of 0.86.
The business also recently announced a quarterly dividend, which was paid on Monday, June 12th. Stockholders of record on Friday, May 26th were given a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 3.08%. The ex-dividend date of this dividend was Wednesday, May 24th. Nordstrom’s payout ratio is currently 69.48%.
In other news, insider Daniel F. Little sold 7,423 shares of the business’s stock in a transaction dated Monday, April 3rd. The shares were sold at an average price of $47.01, for a total value of $348,955.23. Following the completion of the sale, the insider now owns 76,371 shares of the company’s stock, valued at approximately $3,590,200.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 7.03% of the stock is currently owned by insiders.
Large investors have recently added to or reduced their stakes in the company. Gemmer Asset Management LLC increased its stake in Nordstrom by 0.8% in the first quarter. Gemmer Asset Management LLC now owns 2,252 shares of the specialty retailer’s stock valued at $105,000 after buying an additional 18 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in Nordstrom by 0.3% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 6,658 shares of the specialty retailer’s stock valued at $319,000 after buying an additional 21 shares during the last quarter. Mosaic Family Wealth LLC increased its stake in Nordstrom by 3.8% in the first quarter. Mosaic Family Wealth LLC now owns 2,953 shares of the specialty retailer’s stock valued at $138,000 after buying an additional 109 shares during the last quarter. Ken Stern & Associates Inc. increased its stake in Nordstrom by 2.7% in the first quarter. Ken Stern & Associates Inc. now owns 6,155 shares of the specialty retailer’s stock valued at $297,000 after buying an additional 159 shares during the last quarter. Finally, Mn Services Vermogensbeheer B.V. increased its stake in Nordstrom by 5.5% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 3,467 shares of the specialty retailer’s stock valued at $151,000 after buying an additional 180 shares during the last quarter. 68.41% of the stock is owned by institutional investors.
Nordstrom Company Profile
Nordstrom, Inc is a fashion specialty retailer in the United States. The Company’s segments include Retail and Credit. As of March 20, 2017, the Company operated 344 the United States stores located in 40 states as well as an e-commerce business. The Company also offers its customers a variety of payment products and services, including credit and debit cards.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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.