Nordstrom, Inc. (JWN) Expected to Post Quarterly Sales of $3.60 Billion
Wall Street brokerages predict that Nordstrom, Inc. (NYSE:JWN) will post sales of $3.60 billion for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Nordstrom’s earnings, with estimates ranging from $3.58 billion to $3.62 billion. Nordstrom reported sales of $3.54 billion during the same quarter last year, which suggests a positive year over year growth rate of 1.7%. The company is expected to issue its next earnings report on Thursday, November 9th.
On average, analysts expect that Nordstrom will report full-year sales of $3.60 billion for the current financial year, with estimates ranging from $15.25 billion to $15.37 billion. For the next financial year, analysts forecast that the firm will post sales of $15.53 billion per share, with estimates ranging from $15.31 billion to $15.79 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that that provide coverage for Nordstrom.
Nordstrom (NYSE:JWN) last issued its quarterly earnings results 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 return on equity of 71.57% and a net margin of 2.44%. The firm had revenue of $3.72 billion during the quarter, compared to analyst estimates of $3.70 billion. During the same quarter in the previous year, the company posted $0.67 earnings per share. The company’s revenue was up 3.5% compared to the same quarter last year.
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Several institutional investors have recently bought and sold shares of JWN. Gemmer Asset Management LLC raised its stake in shares of Nordstrom by 0.8% during the second quarter. Gemmer Asset Management LLC now owns 2,270 shares of the specialty retailer’s stock valued at $109,000 after acquiring an additional 18 shares in the last quarter. NEXT Financial Group Inc raised its stake in shares of Nordstrom by 55.4% during the second quarter. NEXT Financial Group Inc now owns 2,642 shares of the specialty retailer’s stock valued at $126,000 after acquiring an additional 942 shares in the last quarter. Sei Investments Co. raised its stake in shares of Nordstrom by 32.0% during the second quarter. Sei Investments Co. now owns 3,177 shares of the specialty retailer’s stock valued at $152,000 after acquiring an additional 771 shares in the last quarter. Mosaic Family Wealth LLC raised its stake in shares of Nordstrom by 8.2% during the second quarter. Mosaic Family Wealth LLC now owns 3,195 shares of the specialty retailer’s stock valued at $153,000 after acquiring an additional 242 shares in the last quarter. Finally, James Investment Research Inc. bought a new stake in shares of Nordstrom during the second quarter valued at approximately $156,000. 63.07% of the stock is owned by hedge funds and other institutional investors.
Shares of Nordstrom (JWN) traded up 0.72% during midday trading on Tuesday, reaching $42.07. The company’s stock had a trading volume of 484,213 shares. Nordstrom has a 12 month low of $39.53 and a 12 month high of $62.82. The company has a market cap of $6.99 billion, a PE ratio of 19.93 and a beta of 0.85. The company’s 50-day moving average price is $44.90 and its 200-day moving average price is $45.65.
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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