Research Analysts Offer Predictions for Nordstrom, Inc.’s Q4 2022 Earnings (NYSE:JWN)

Nordstrom, Inc. (NYSE:JWN) – Stock analysts at William Blair lifted their Q4 2022 earnings per share (EPS) estimates for shares of Nordstrom in a research note issued to investors on Wednesday, November 24th. William Blair analyst D. Carden now anticipates that the specialty retailer will earn $1.09 per share for the quarter, up from their prior estimate of $1.06. William Blair currently has a “Market Perform” rating on the stock.

Several other equities analysts have also recently issued reports on the stock. Jefferies Financial Group cut shares of Nordstrom from a “buy” rating to a “hold” rating and lowered their target price for the company from $48.00 to $30.00 in a research note on Wednesday. Morgan Stanley cut shares of Nordstrom from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $36.00 to $27.00 in a research note on Wednesday, August 25th. Evercore ISI lowered their price objective on shares of Nordstrom from $45.00 to $35.00 and set an “outperform” rating on the stock in a research note on Wednesday. JPMorgan Chase & Co. lowered their price objective on shares of Nordstrom from $27.00 to $23.00 and set an “underweight” rating on the stock in a research note on Wednesday. Finally, Zacks Investment Research upgraded shares of Nordstrom from a “hold” rating to a “strong-buy” rating and set a $33.00 price objective on the stock in a research note on Friday, August 27th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $30.88.

JWN opened at $22.66 on Thursday. The company has a debt-to-equity ratio of 10.63, a quick ratio of 0.33 and a current ratio of 0.90. The stock 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. The company’s 50-day simple moving average is $29.58 and its two-hundred day simple moving average is $32.47. Nordstrom has a 52-week low of $22.35 and a 52-week high of $46.45.

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

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Madison Asset Management LLC raised its stake in Nordstrom by 188.4% during the 2nd quarter. Madison Asset Management LLC now owns 114,800 shares of the specialty retailer’s stock worth $4,198,000 after acquiring an additional 75,000 shares during the period. Amalgamated Bank raised its stake in Nordstrom by 566.7% during the 2nd quarter. Amalgamated Bank now owns 90,772 shares of the specialty retailer’s stock worth $3,320,000 after acquiring an additional 77,157 shares during the period. Cinctive Capital Management LP raised its stake in Nordstrom by 31.2% during the 2nd quarter. Cinctive Capital Management LP now owns 65,707 shares of the specialty retailer’s stock worth $2,403,000 after acquiring an additional 15,641 shares during the period. LPL Financial LLC grew its holdings in Nordstrom by 36.7% during the 2nd quarter. LPL Financial LLC now owns 63,256 shares of the specialty retailer’s stock valued at $2,313,000 after buying an additional 16,977 shares in the last quarter. Finally, Zeke Capital Advisors LLC purchased a new stake in Nordstrom during the 2nd quarter valued at approximately $27,499,000. Institutional investors own 59.29% of the company’s stock.

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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