Nordstrom, Inc. (JWN) Expected to Post Earnings of $0.61 Per Share
Wall Street brokerages expect Nordstrom, Inc. (NYSE:JWN) to report earnings of $0.61 per share for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Nordstrom’s earnings, with the lowest EPS estimate coming in at $0.53 and the highest estimate coming in at $0.68. Nordstrom posted earnings of $0.67 per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 9%. The firm is scheduled to announce its next quarterly earnings results after the market closes on Thursday, August 10th.
On average, analysts expect that Nordstrom will report full-year earnings of $2.97 per share for the current financial year, with EPS estimates ranging from $2.91 to $3.02. For the next financial year, analysts forecast that the company will report earnings of $2.97 per share, with EPS estimates ranging from $2.50 to $3.20. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Nordstrom.
A number of research analysts recently issued reports on JWN shares. TheStreet downgraded Nordstrom from a “b-” rating to a “c” rating in a research note on Thursday, May 11th. Atlantic Securities upgraded Nordstrom from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $45.00 to $58.00 in a research note on Thursday, May 4th. Vetr upgraded Nordstrom from a “hold” rating to a “buy” rating and set a $48.92 price objective for the company in a research note on Tuesday, April 4th. BMO Capital Markets reiterated a “hold” rating and set a $50.00 price objective on shares of Nordstrom in a research note on Monday, March 27th. Finally, Zacks Investment Research upgraded Nordstrom from a “sell” rating to a “hold” rating in a research note on Wednesday, May 10th. Five investment analysts have rated the stock with a sell rating, eighteen have given a hold rating and five have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $47.23.
Large investors have recently modified their holdings of the stock. Parallel Advisors LLC increased its position in Nordstrom by 12.7% in the first quarter. Parallel Advisors LLC now owns 2,099 shares of the specialty retailer’s stock valued at $104,000 after buying an additional 236 shares during the last quarter. Gemmer Asset Management LLC increased its position 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. Ledyard National Bank increased its position in Nordstrom by 291.1% in the first quarter. Ledyard National Bank now owns 2,362 shares of the specialty retailer’s stock valued at $110,000 after buying an additional 1,758 shares during the last quarter. Advisory Services Network LLC acquired a new position in Nordstrom during the first quarter valued at $113,000. Finally, NEXT Financial Group Inc increased its position in Nordstrom by 55.4% in the second quarter. NEXT Financial Group Inc now owns 2,642 shares of the specialty retailer’s stock valued at $126,000 after buying an additional 942 shares during the last quarter. 64.07% of the stock is currently owned by institutional investors.
Nordstrom (NYSE:JWN) traded up 1.45% during trading on Wednesday, reaching $46.94. 1,114,480 shares of the company traded hands. The firm has a market capitalization of $7.79 billion, a price-to-earnings ratio of 21.98 and a beta of 0.83. Nordstrom has a 52 week low of $39.05 and a 52 week high of $62.82. The company’s 50-day moving average price is $46.04 and its 200 day moving average price is $45.25.
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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.
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