Zacks: Brokerages Expect Nordstrom, Inc. (JWN) Will Post Quarterly Sales of $3.60 Billion
Equities analysts expect Nordstrom, Inc. (NYSE:JWN) to announce $3.60 billion in sales for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Nordstrom’s earnings, with estimates ranging from $3.58 billion to $3.62 billion. Nordstrom posted sales of $3.54 billion in the same quarter last year, which would indicate a positive year over year growth rate of 1.7%. The firm is expected to report its next quarterly earnings results on Thursday, November 9th.
On average, analysts expect that Nordstrom will report full year sales of $3.60 billion for the current fiscal year, with estimates ranging from $15.06 billion to $15.37 billion. For the next year, analysts anticipate that the firm will report sales of $15.53 billion per share, with estimates ranging from $15.31 billion to $15.79 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that cover Nordstrom.
Nordstrom (NYSE:JWN) last released its quarterly earnings results on Thursday, August 10th. The specialty retailer reported $0.65 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.03. The business had revenue of $3.72 billion during the quarter, compared to analyst estimates of $3.70 billion. Nordstrom had a net margin of 2.44% and a return on equity of 71.57%. The business’s revenue was up 3.5% on a year-over-year basis. During the same period last year, the business earned $0.67 EPS.
A number of equities analysts have recently commented on JWN shares. ValuEngine lowered shares of Nordstrom from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Vetr lowered shares of Nordstrom from a “buy” rating to a “hold” rating and set a $43.99 price target on the stock. in a research report on Monday, June 5th. Royal Bank Of Canada set a $45.00 price target on shares of Nordstrom and gave the company a “hold” rating in a research report on Tuesday, August 29th. Cowen and Company reissued an “outperform” rating and issued a $49.00 price target on shares of Nordstrom in a research report on Friday, June 9th. Finally, Piper Jaffray Companies set a $42.00 price target on shares of Nordstrom and gave the company a “hold” rating in a research report on Monday, July 17th. Four investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eight have given a buy rating to the company. Nordstrom currently has an average rating of “Hold” and a consensus target price of $48.26.
Shares of Nordstrom (NYSE:JWN) opened at 46.74 on Friday. The company’s 50-day moving average is $45.84 and its 200-day moving average is $45.62. Nordstrom has a 12-month low of $39.53 and a 12-month high of $62.82. The firm has a market capitalization of $7.77 billion, a price-to-earnings ratio of 22.14 and a beta of 0.82.
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 12th. Stockholders of record on Monday, August 28th were paid a $0.37 dividend. The ex-dividend date was Thursday, August 24th. This represents a $1.48 annualized dividend and a dividend yield of 3.17%. Nordstrom’s dividend payout ratio is presently 70.14%.
Large investors have recently modified their holdings of the company. Flippin Bruce & Porter Inc. boosted its stake in shares of Nordstrom by 46.2% in the 2nd quarter. Flippin Bruce & Porter Inc. now owns 112,227 shares of the specialty retailer’s stock valued at $5,368,000 after purchasing an additional 35,467 shares in the last quarter. Twin Capital Management Inc. boosted its stake in shares of Nordstrom by 17.4% in the 2nd quarter. Twin Capital Management Inc. now owns 31,360 shares of the specialty retailer’s stock valued at $1,500,000 after purchasing an additional 4,650 shares in the last quarter. First Trust Advisors LP boosted its stake in shares of Nordstrom by 72.8% in the 1st quarter. First Trust Advisors LP now owns 264,500 shares of the specialty retailer’s stock valued at $12,318,000 after purchasing an additional 111,458 shares in the last quarter. Boston Private Wealth LLC acquired a new stake in shares of Nordstrom in the 1st quarter valued at $492,000. Finally, Principal Financial Group Inc. boosted its stake in shares of Nordstrom by 168.7% in the 2nd quarter. Principal Financial Group Inc. now owns 1,831,138 shares of the specialty retailer’s stock valued at $87,584,000 after purchasing an additional 1,149,685 shares in the last quarter. Institutional investors own 63.71% of the company’s stock.
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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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