Brokerages Expect Nordstrom, Inc. (JWN) Will Post Quarterly Sales of $4.61 Billion

Analysts expect that Nordstrom, Inc. (NYSE:JWN) will post $4.61 billion in sales for the current quarter, according to Zacks Investment Research. Five analysts have provided estimates for Nordstrom’s earnings, with the highest sales estimate coming in at $4.67 billion and the lowest estimate coming in at $4.57 billion. Nordstrom reported sales of $4.32 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 6.7%. The firm is scheduled to announce its next quarterly earnings report on Thursday, February 22nd.

On average, analysts expect that Nordstrom will report full-year sales of $4.61 billion for the current financial year, with estimates ranging from $15.37 billion to $15.45 billion. For the next fiscal year, analysts expect that the company will post sales of $15.63 billion per share, with estimates ranging from $15.45 billion to $15.78 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Nordstrom.

Nordstrom (NYSE:JWN) last issued its quarterly earnings results on Thursday, November 9th. The specialty retailer reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.04. The firm had revenue of $3.54 billion during the quarter, compared to the consensus estimate of $3.50 billion. Nordstrom had a return on equity of 67.44% and a net margin of 3.25%. Nordstrom’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.84 earnings per share.

A number of research analysts recently commented on the company. Zacks Investment Research raised Nordstrom from a “hold” rating to a “buy” rating and set a $56.00 price target for the company in a report on Monday, January 15th. BMO Capital Markets set a $50.00 target price on Nordstrom and gave the stock a “hold” rating in a report on Friday, January 12th. Piper Jaffray Companies set a $45.00 target price on Nordstrom and gave the stock a “hold” rating in a report on Wednesday, January 10th. JPMorgan Chase & Co. raised Nordstrom from an “underweight” rating to a “neutral” rating and increased their target price for the stock from $33.00 to $48.00 in a report on Tuesday, January 2nd. Finally, ValuEngine downgraded Nordstrom from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Three equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eight have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $47.43.

Several institutional investors have recently made changes to their positions in JWN. York Capital Management Global Advisors LLC acquired a new stake in Nordstrom in the 2nd quarter valued at approximately $75,623,000. Disciplined Growth Investors Inc. MN increased its position in Nordstrom by 1,155.2% in the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 893,200 shares of the specialty retailer’s stock valued at $42,722,000 after acquiring an additional 822,038 shares during the period. Ameriprise Financial Inc. increased its position in Nordstrom by 596.9% in the 3rd quarter. Ameriprise Financial Inc. now owns 779,081 shares of the specialty retailer’s stock valued at $36,734,000 after acquiring an additional 667,296 shares during the period. USS Investment Management Ltd acquired a new stake in Nordstrom in the 4th quarter valued at approximately $27,700,000. Finally, Amundi Pioneer Asset Management Inc. increased its position in Nordstrom by 196.0% in the 3rd quarter. Amundi Pioneer Asset Management Inc. now owns 694,237 shares of the specialty retailer’s stock valued at $32,733,000 after acquiring an additional 459,719 shares during the period. Institutional investors and hedge funds own 57.96% of the company’s stock.

Nordstrom (NYSE:JWN) opened at $52.00 on Monday. The company has a market capitalization of $8,662.29, a PE ratio of 18.31, a P/E/G ratio of 2.91 and a beta of 0.89. Nordstrom has a 1-year low of $37.79 and a 1-year high of $53.00. The company has a quick ratio of 0.30, a current ratio of 1.00 and a debt-to-equity ratio of 3.14.

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About Nordstrom

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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Earnings History and Estimates for Nordstrom (NYSE:JWN)

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