Nordstrom, Inc. (JWN) Expected to Announce Earnings of $1.47 Per Share

Equities research analysts expect that Nordstrom, Inc. (NYSE:JWN) will announce $1.47 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Six analysts have made estimates for Nordstrom’s earnings, with estimates ranging from $1.41 to $1.51. Nordstrom reported earnings per share of $1.20 during the same quarter last year, which suggests a positive year over year growth rate of 22.5%. The company is scheduled to report its next earnings results on Thursday, March 7th.

According to Zacks, analysts expect that Nordstrom will report full year earnings of $3.60 per share for the current year, with EPS estimates ranging from $3.55 to $3.65. For the next year, analysts expect that the firm will post earnings of $3.73 per share, with EPS estimates ranging from $3.51 to $3.93. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research analysts that that provide coverage for Nordstrom.

Nordstrom (NYSE:JWN) last issued its earnings results on Thursday, November 15th. The specialty retailer reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.03. The company had revenue of $3.75 billion during the quarter, compared to analyst estimates of $3.68 billion. Nordstrom had a net margin of 2.92% and a return on equity of 51.66%.

A number of brokerages have issued reports on JWN. Zacks Investment Research lowered shares of Nordstrom from a “buy” rating to a “hold” rating in a research note on Friday, November 30th. Nomura lifted their price objective on shares of Nordstrom from $54.00 to $59.00 and gave the company a “neutral” rating in a research note on Friday, August 17th. Royal Bank of Canada set a $55.00 price objective on shares of Nordstrom and gave the company a “hold” rating in a research note on Friday, August 17th. ValuEngine lowered shares of Nordstrom from a “buy” rating to a “hold” rating in a research note on Friday, November 16th. Finally, Piper Jaffray Companies reaffirmed a “hold” rating and issued a $49.00 price objective on shares of Nordstrom in a research note on Friday, August 17th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and seven have given a buy rating to the company. Nordstrom has a consensus rating of “Hold” and a consensus price target of $57.71.

In other Nordstrom news, VP Robert Sari sold 53,024 shares of the business’s stock in a transaction on Monday, September 10th. The shares were sold at an average price of $65.72, for a total transaction of $3,484,737.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Christine Deputy sold 11,534 shares of the business’s stock in a transaction on Monday, September 10th. The stock was sold at an average price of $65.87, for a total transaction of $759,744.58. Following the transaction, the insider now directly owns 76,463 shares of the company’s stock, valued at approximately $5,036,617.81. The disclosure for this sale can be found here. In the last three months, insiders have sold 200,604 shares of company stock valued at $12,621,378. Company insiders own 7.05% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in JWN. Vanguard Group Inc. increased its holdings in shares of Nordstrom by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 12,462,906 shares of the specialty retailer’s stock worth $745,406,000 after purchasing an additional 178,581 shares during the period. BlackRock Inc. increased its holdings in shares of Nordstrom by 10.5% during the 3rd quarter. BlackRock Inc. now owns 9,865,556 shares of the specialty retailer’s stock worth $590,062,000 after purchasing an additional 933,720 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Nordstrom by 1.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,721,385 shares of the specialty retailer’s stock worth $342,197,000 after purchasing an additional 66,655 shares during the period. Disciplined Growth Investors Inc. MN increased its holdings in shares of Nordstrom by 4.6% during the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 1,439,614 shares of the specialty retailer’s stock worth $86,103,000 after purchasing an additional 63,387 shares during the period. Finally, TIAA CREF Investment Management LLC increased its holdings in shares of Nordstrom by 92.5% during the 3rd quarter. TIAA CREF Investment Management LLC now owns 1,358,979 shares of the specialty retailer’s stock worth $81,281,000 after purchasing an additional 653,173 shares during the period. 60.44% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE:JWN traded down $1.33 during trading on Friday, reaching $49.36. 2,757,036 shares of the company traded hands, compared to its average volume of 3,375,204. The firm has a market capitalization of $8.54 billion, a P/E ratio of 16.68, a price-to-earnings-growth ratio of 2.35 and a beta of 0.54. Nordstrom has a 1-year low of $44.68 and a 1-year high of $67.75. The company has a quick ratio of 0.44, a current ratio of 1.12 and a debt-to-equity ratio of 2.23.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 11th. Shareholders of record on Monday, November 26th will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date of this dividend is Friday, November 23rd. Nordstrom’s dividend payout ratio is 50.00%.

Nordstrom declared that its board has authorized a share buyback program on Wednesday, August 22nd that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the specialty retailer to buy up to 14.4% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Nordstrom Company Profile

Nordstrom, Inc, a fashion retailer, provides apparel, shoes, cosmetics, and accessories for women, men, young adults, and children in the United States and Canada. The company operates in two segments, Retail and Credit. The Retail segment offers a range of brand name and private label merchandise through various channels, including Nordstrom branded full-line stores and online store at Nordstrom.com; Nordstrom Rack stores; Nordstromrack.com and HauteLook; Trunk Club clubhouses and TrunkClub.com; Jeffrey boutiques; and clearance stores that operate under the Last Chance name.

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