KeyCorp Weighs in on Nordstrom, Inc.’s FY2022 Earnings (NYSE:JWN)

Nordstrom, Inc. (NYSE:JWN) – Research analysts at KeyCorp reduced their FY2022 earnings per share estimates for shares of Nordstrom in a report issued on Tuesday, November 23rd. KeyCorp analyst E. Yruma now forecasts that the specialty retailer will earn $1.33 per share for the year, down from their prior forecast of $1.49. KeyCorp currently has a “Buy” rating and a $45.00 target price on the stock. KeyCorp also issued estimates for Nordstrom’s Q4 2022 earnings at $1.07 EPS, Q1 2023 earnings at $0.11 EPS and Q2 2023 earnings at $0.61 EPS.

JWN has been the topic of a number of other reports. Evercore ISI decreased their target price on Nordstrom from $45.00 to $35.00 and set an “outperform” rating on the stock in a research report on Wednesday. Citigroup decreased their target price on Nordstrom from $31.00 to $27.00 and set a “neutral” rating on the stock in a research report on Wednesday. William Blair reiterated a “market perform” rating on shares of Nordstrom in a research report on Wednesday. Robert W. Baird decreased their target price on Nordstrom from $39.00 to $30.00 and set a “neutral” rating on the stock in a research report on Wednesday. Finally, TheStreet upgraded Nordstrom from a “d+” rating to a “c” rating in a research report on Tuesday, August 24th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $30.88.

NYSE:JWN opened at $22.66 on Thursday. The company has a current ratio of 0.90, a quick ratio of 0.33 and a debt-to-equity ratio of 10.63. The company has a market capitalization of $3.60 billion, a P/E ratio of -2,266.00, a P/E/G ratio of 3.74 and a beta of 2.37. Nordstrom has a 12 month low of $22.35 and a 12 month high of $46.45. The business’s 50-day moving average is $29.58 and its 200 day moving average is $32.47.

Nordstrom (NYSE:JWN) last announced its quarterly earnings data on Tuesday, November 23rd. The specialty retailer reported $0.39 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.56 by ($0.17). The firm had revenue of $3.64 billion during the quarter, compared to analyst estimates of $3.54 billion. During the same quarter last year, the firm earned $0.22 EPS. The firm’s quarterly revenue was up 17.7% on a year-over-year basis.

Several institutional investors and hedge funds have recently added to or reduced their stakes in JWN. Walled Lake Planning & Wealth Management LLC bought a new position in shares of Nordstrom during the second quarter valued at approximately $29,000. Mine & Arao Wealth Creation & Management LLC. grew its stake in shares of Nordstrom by 293.3% during the third quarter. Mine & Arao Wealth Creation & Management LLC. now owns 1,180 shares of the specialty retailer’s stock valued at $31,000 after buying an additional 880 shares during the last quarter. Captrust Financial Advisors grew its stake in shares of Nordstrom by 68.4% during the first quarter. Captrust Financial Advisors now owns 1,197 shares of the specialty retailer’s stock valued at $45,000 after buying an additional 486 shares during the last quarter. Kozak & Associates Inc. bought a new position in shares of Nordstrom during the third quarter valued at approximately $45,000. Finally, TCTC Holdings LLC bought a new position in shares of Nordstrom during the third quarter valued at approximately $48,000. 59.29% of the stock is currently owned by hedge funds and other institutional investors.

About Nordstrom

Nordstrom, Inc engages in the manufacture and trade of clothes, shoes, and accessories. It operates through Retail; and Corporate/Other. The Retail segment comprises selection of high-quality, brand-name, and private label merchandise, which includes apparel, shoes, cosmetics, and accessories for women, men, young adults, and children.

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Earnings History and Estimates for Nordstrom (NYSE:JWN)

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