Nordstrom, Inc. (JWN) Expected to Announce Quarterly Sales of $3.72 Billion
Wall Street analysts expect Nordstrom, Inc. (NYSE:JWN) to announce $3.72 billion in sales for the current fiscal quarter, according to Zacks. Four analysts have made 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 posted sales of $3.65 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 1.9%. The firm is expected to issue its next earnings results 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 financial year, with estimates ranging from $15.03 billion to $15.31 billion. For the next year, analysts forecast 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 sell-side analysts that that provide coverage for Nordstrom.
Several brokerages recently issued reports on JWN. Vetr cut Nordstrom from a “strong-buy” rating to a “buy” rating and set a $48.92 price objective for the company. in a report on Monday, April 10th. Piper Jaffray Companies set a $42.00 target price on Nordstrom and gave the company a “hold” rating in a research note on Saturday, May 13th. Robert W. Baird set a $50.00 target price on Nordstrom and gave the company a “hold” rating in a research note on Saturday, May 13th. ValuEngine lowered Nordstrom from a “buy” rating to a “hold” rating in a research note on Thursday, June 8th. Finally, Atlantic Securities raised Nordstrom from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $45.00 to $58.00 in a research report on Thursday, May 4th. Five research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and five have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $47.23.
A number of institutional investors have recently modified their holdings of the stock. Parallel Advisors LLC raised its position in shares of Nordstrom by 12.7% in the first quarter. Parallel Advisors LLC now owns 2,099 shares of the specialty retailer’s stock worth $104,000 after buying an additional 236 shares during the last quarter. Gemmer Asset Management LLC raised its position in shares of Nordstrom by 0.8% in the first quarter. Gemmer Asset Management LLC now owns 2,252 shares of the specialty retailer’s stock worth $105,000 after buying an additional 18 shares during the last quarter. Ledyard National Bank raised its position in shares of Nordstrom by 291.1% in the first quarter. Ledyard National Bank now owns 2,362 shares of the specialty retailer’s stock worth $110,000 after buying an additional 1,758 shares during the last quarter. Advisory Services Network LLC purchased a new position in shares of Nordstrom during the first quarter worth about $113,000. Finally, NEXT Financial Group Inc raised its position in shares of Nordstrom by 55.4% in the second quarter. NEXT Financial Group Inc now owns 2,642 shares of the specialty retailer’s stock worth $126,000 after buying an additional 942 shares during the last quarter. 64.07% of the stock is owned by hedge funds and other institutional investors.
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Shares of Nordstrom (JWN) traded up 0.435% during mid-day trading on Friday, reaching $47.305. 564,327 shares of the company traded hands. The firm has a 50 day moving average of $46.32 and a 200-day moving average of $45.28. Nordstrom has a 52 week low of $39.05 and a 52 week high of $62.82. The stock has a market capitalization of $7.86 billion, a PE ratio of 22.147 and a beta of 0.83.
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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