William Blair Reaffirms “Market Perform” Rating for Nordstrom (NYSE:JWN)

Nordstrom (NYSE:JWN)‘s stock had its “market perform” rating reiterated by equities researchers at William Blair in a research report issued to clients and investors on Wednesday, Zacks.com reports. William Blair also issued estimates for Nordstrom’s Q4 2022 earnings at $1.09 EPS.

Several other research analysts have also recently weighed in on the stock. Citigroup lowered their price target on shares of Nordstrom from $31.00 to $27.00 and set a “neutral” rating on the stock in a report on Wednesday. Zacks Investment Research raised shares of Nordstrom from a “hold” rating to a “strong-buy” rating and set a $33.00 price target on the stock in a report on Friday, August 27th. TheStreet raised shares of Nordstrom from a “d+” rating to a “c” rating in a report on Tuesday, August 24th. Morgan Stanley cut shares of Nordstrom from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $36.00 to $27.00 in a report on Wednesday, August 25th. Finally, Telsey Advisory Group lowered their target price on shares of Nordstrom from $36.00 to $27.00 and set a “market perform” rating on the stock in a report on Wednesday. Three analysts have rated the stock with a sell rating, nine have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $30.88.

Shares of JWN stock opened at $22.66 on Wednesday. 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 firm’s 50-day moving average is $29.58 and its 200-day moving average is $32.47. The stock has a market cap of $3.60 billion, a price-to-earnings ratio of -2,266.00, a PEG ratio of 3.74 and a beta of 2.37. Nordstrom has a 52-week low of $22.35 and a 52-week high of $46.45.

Nordstrom (NYSE:JWN) last issued its earnings results on Monday, November 22nd. The specialty retailer reported $0.39 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.56 by ($0.17). The firm had revenue of $3.64 billion for the quarter, compared to the consensus estimate of $3.54 billion. The business’s revenue for the quarter was up 17.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.22 earnings per share. Sell-side analysts predict that Nordstrom will post 1.46 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of JWN. Dimensional Fund Advisors LP acquired a new stake in shares of Nordstrom during the 1st quarter worth approximately $1,582,000. Captrust Financial Advisors boosted its position in shares of Nordstrom by 68.4% during the 1st quarter. Captrust Financial Advisors now owns 1,197 shares of the specialty retailer’s stock worth $45,000 after acquiring an additional 486 shares in the last quarter. Verition Fund Management LLC acquired a new stake in shares of Nordstrom during the 1st quarter worth approximately $221,000. Eaton Vance Management boosted its position in shares of Nordstrom by 9.2% during the 1st quarter. Eaton Vance Management now owns 40,506 shares of the specialty retailer’s stock worth $1,534,000 after acquiring an additional 3,429 shares in the last quarter. Finally, Utah Retirement Systems acquired a new stake in shares of Nordstrom during the 1st quarter worth approximately $216,000. Institutional investors and hedge funds 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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Analyst Recommendations for Nordstrom (NYSE:JWN)

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