FY2017 EPS Estimates for Nordstrom Inc. (JWN) Increased by Analyst
Nordstrom Inc. (NYSE:JWN) – KeyCorp upped their FY2017 earnings per share estimates for shares of Nordstrom in a research report issued to clients and investors on Thursday. KeyCorp analyst E. Yruma now forecasts that the firm will post earnings per share of $2.93 for the year, up from their previous estimate of $2.73. KeyCorp currently has a “Buy” rating on the stock. KeyCorp also issued estimates for Nordstrom’s Q1 2018 earnings at $0.30 EPS, Q2 2018 earnings at $0.72 EPS, Q4 2018 earnings at $1.41 EPS and FY2018 earnings at $3.26 EPS.
Nordstrom (NYSE:JWN) last issued its earnings results on Thursday, November 10th. The company reported $0.84 EPS for the quarter, beating the consensus estimate of $0.52 by $0.32. The company earned $3.47 billion during the quarter, compared to analysts’ expectations of $3.49 billion. Nordstrom had a net margin of 2.28% and a return on equity of 58.85%. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.57 EPS.
Other research analysts have also recently issued reports about the stock. Deutsche Bank AG raised their target price on shares of Nordstrom from $47.00 to $57.00 and gave the stock a “buy” rating in a report on Friday, August 12th. Stifel Nicolaus raised their target price on shares of Nordstrom from $44.00 to $58.00 and gave the stock a “buy” rating in a report on Friday, August 12th. Vetr upgraded shares of Nordstrom from a “hold” rating to a “buy” rating and set a $47.50 price target on the stock in a research report on Tuesday, July 26th. Guggenheim initiated coverage on shares of Nordstrom in a research report on Friday, September 30th. They set a “buy” rating and a $60.00 price target on the stock. Finally, Maxim Group increased their price target on shares of Nordstrom from $54.00 to $61.00 and gave the stock a “buy” rating in a research report on Friday. Seven analysts have rated the stock with a sell rating, nineteen have given a hold rating and seven have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $48.52.
Shares of Nordstrom (NYSE:JWN) opened at 58.72 on Monday. Nordstrom has a 12 month low of $35.01 and a 12 month high of $59.37. The firm’s 50 day moving average is $52.93 and its 200 day moving average is $46.42. The company has a market cap of $10.18 billion, a PE ratio of 25.02 and a beta of 1.02.
In other news, insider Daniel F. Little sold 5,277 shares of the business’s stock in a transaction that occurred on Friday, October 7th. The shares were sold at an average price of $55.00, for a total value of $290,235.00. Following the sale, the insider now owns 68,223 shares of the company’s stock, valued at $3,752,265. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Daniel F. Little sold 5,270 shares of the business’s stock in a transaction that occurred on Thursday, October 6th. The shares were sold at an average price of $54.00, for a total transaction of $284,580.00. Following the completion of the sale, the insider now directly owns 68,216 shares in the company, valued at approximately $3,683,664. The disclosure for this sale can be found here. 7.03% of the stock is currently owned by company insiders.
Several hedge funds have recently bought and sold shares of JWN. Bank of Montreal Can acquired a new stake in Nordstrom during the second quarter valued at about $111,916,000. Skandinaviska Enskilda Banken AB publ raised its stake in Nordstrom by 20,761.0% in the third quarter. Skandinaviska Enskilda Banken AB publ now owns 2,731,326 shares of the company’s stock valued at $141,701,000 after buying an additional 2,718,233 shares during the period. Vanguard Group Inc. raised its stake in Nordstrom by 16.4% in the second quarter. Vanguard Group Inc. now owns 13,840,222 shares of the company’s stock valued at $526,621,000 after buying an additional 1,945,151 shares during the period. Smith Asset Management Group LP acquired a new stake in Nordstrom during the third quarter valued at about $62,974,000. Finally, Hotchkis & Wiley Capital Management LLC raised its stake in Nordstrom by 34.9% in the second quarter. Hotchkis & Wiley Capital Management LLC now owns 3,594,094 shares of the company’s stock valued at $136,755,000 after buying an additional 929,597 shares during the period. 66.50% of the stock is currently owned by institutional investors.
Nordstrom, Inc is a fashion specialty retailer in the United States. The company operates through two segments: Retail and Credit. The Retail segment includes approximately 115 Nordstrom branded full-line stores in the United States and Nordstrom.com, approximately 167 off-price Nordstrom Rack stores, two Canada full-line stores, Nordstromrack.com and HauteLook, and other retail channels, including five Trunk Club showrooms and TrunkClub.com, its two Jeffrey boutiques and one clearance store that operates under the name Last Chance.
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