Analysts Anticipate Nordstrom, Inc. (JWN) Will Announce Quarterly Sales of $3.60 Billion
Wall Street brokerages expect that Nordstrom, Inc. (NYSE:JWN) will announce sales of $3.60 billion for the current quarter, according to Zacks. Four analysts have provided estimates for Nordstrom’s earnings. The highest sales estimate is $3.62 billion and the lowest is $3.58 billion. Nordstrom reported sales of $3.54 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 1.7%. The company is scheduled to issue its next quarterly earnings results on Thursday, November 9th.
According to Zacks, 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 expect that the company 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 analysts that that provide coverage for Nordstrom.
Nordstrom (NYSE:JWN) last issued its quarterly earnings data on Thursday, August 10th. The specialty retailer reported $0.65 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.03. Nordstrom had a net margin of 2.44% and a return on equity of 71.57%. The company had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.70 billion. During the same quarter in the prior year, the firm earned $0.67 earnings per share. The firm’s revenue was up 3.5% compared to the same quarter last year.
A number of research analysts recently issued reports on the stock. Cowen and Company reiterated an “outperform” rating and set a $49.00 target price on shares of Nordstrom in a research report on Friday, June 9th. Royal Bank Of Canada set a $45.00 target price on shares of Nordstrom and gave the company a “hold” rating in a research report on Tuesday, August 29th. ValuEngine downgraded shares of Nordstrom from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Robert W. Baird set a $50.00 target price on shares of Nordstrom and gave the company a “hold” rating in a research report on Saturday, August 12th. Finally, J P Morgan Chase & Co reiterated an “underweight” rating and set a $48.00 target price on shares of Nordstrom in a research report on Friday, July 14th. Four equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and eight have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $47.77.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Griffin Asset Management Inc. bought a new position in Nordstrom during the second quarter valued at about $684,000. Achmea Investment Management B.V. grew its position in Nordstrom by 10.0% during the second quarter. Achmea Investment Management B.V. now owns 46,462 shares of the specialty retailer’s stock valued at $2,218,000 after buying an additional 4,235 shares during the period. Toronto Dominion Bank grew its position in Nordstrom by 22.6% during the second quarter. Toronto Dominion Bank now owns 37,889 shares of the specialty retailer’s stock valued at $1,812,000 after buying an additional 6,975 shares during the period. Cetera Investment Advisers bought a new position in Nordstrom during the second quarter valued at about $269,000. Finally, Advisory Services Network LLC grew its position in Nordstrom by 41.8% during the second quarter. Advisory Services Network LLC now owns 3,452 shares of the specialty retailer’s stock valued at $165,000 after buying an additional 1,018 shares during the period. Institutional investors own 63.14% of the company’s stock.
Shares of Nordstrom (NYSE JWN) opened at 44.25 on Thursday. The company has a market cap of $7.36 billion, a P/E ratio of 20.96 and a beta of 0.85. The stock’s 50 day moving average is $45.67 and its 200 day moving average is $45.75. Nordstrom has a 12 month low of $39.53 and a 12 month high of $62.82.
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 12th. Investors of record on Monday, August 28th were given a dividend of $0.37 per share. The ex-dividend date was Thursday, August 24th. This represents a $1.48 annualized dividend and a yield of 3.34%. Nordstrom’s payout ratio is currently 70.14%.
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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