Nordstrom, Inc. (JWN) Given Average Recommendation of “Hold” by Brokerages
Nordstrom, Inc. (NYSE:JWN) has been assigned an average recommendation of “Hold” from the thirty brokerages that are currently covering the firm, MarketBeat.com reports. Four analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eight have issued a buy rating on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $47.50.
JWN has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded Nordstrom from a “hold” rating to a “buy” rating and set a $53.00 price objective on the stock in a report on Thursday, August 10th. Cowen and Company reissued an “outperform” rating and set a $53.00 target price (up previously from $49.00) on shares of Nordstrom in a research note on Wednesday, September 13th. Vetr cut Nordstrom from a “sell” rating to a “strong sell” rating and set a $41.54 target price for the company. in a research note on Wednesday, July 5th. BidaskClub downgraded Nordstrom from a “buy” rating to a “hold” rating in a research report on Saturday, August 12th. Finally, ValuEngine downgraded Nordstrom from a “buy” rating to a “hold” rating in a research report on Thursday, June 8th.
Nordstrom (NYSE:JWN) opened at 44.20 on Wednesday. The company’s 50-day moving average price is $45.68 and its 200-day moving average price is $45.76. Nordstrom has a 12-month low of $39.53 and a 12-month high of $62.82. The stock has a market cap of $7.35 billion, a PE ratio of 20.94 and a beta of 0.85.
Nordstrom (NYSE:JWN) last posted its earnings results on Thursday, August 10th. The specialty retailer reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.03. The company had revenue of $3.72 billion for 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%. Nordstrom’s revenue was up 3.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.67 EPS. On average, equities analysts expect that Nordstrom will post $2.98 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 12th. Investors of record on Monday, August 28th were paid a dividend of $0.37 per share. The ex-dividend date of this dividend was Thursday, August 24th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.35%. Nordstrom’s payout ratio is currently 70.14%.
A number of institutional investors have recently bought and sold shares of JWN. BlackRock Inc. lifted its holdings in Nordstrom by 2,321.7% during the 1st quarter. BlackRock Inc. now owns 8,021,009 shares of the specialty retailer’s stock worth $373,537,000 after buying an additional 7,689,800 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Nordstrom by 37.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 10,882,305 shares of the specialty retailer’s stock worth $520,501,000 after acquiring an additional 2,985,551 shares in the last quarter. York Capital Management Global Advisors LLC acquired a new position in shares of Nordstrom during the 2nd quarter worth about $75,623,000. Principal Financial Group Inc. boosted its position in shares of Nordstrom by 168.7% during the 2nd quarter. Principal Financial Group Inc. now owns 1,831,138 shares of the specialty retailer’s stock worth $87,584,000 after acquiring an additional 1,149,685 shares in the last quarter. Finally, Disciplined Growth Investors Inc. MN boosted its position in shares of Nordstrom by 1,155.2% during the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 893,200 shares of the specialty retailer’s stock worth $42,722,000 after acquiring an additional 822,038 shares in the last quarter. Institutional investors own 63.14% of the company’s stock.
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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