William Blair Comments on Nordstrom Inc.’s FY2017 Earnings (JWN)
Nordstrom Inc. (NYSE:JWN) – Equities research analysts at William Blair upped their FY2017 earnings per share estimates for shares of Nordstrom in a research report issued on Friday. William Blair analyst A. Noblin now anticipates that the firm will post earnings per share of $2.95 for the year, up from their prior estimate of $2.65. William Blair also issued estimates for Nordstrom’s Q4 2017 earnings at $1.18 EPS and FY2018 earnings at $3.20 EPS.
JWN has been the subject of a number of other research reports. Cowen and Company reissued an “outperform” rating and issued a $55.00 price target on shares of Nordstrom in a report on Monday, August 29th. Stifel Nicolaus reaffirmed a “buy” rating and set a $58.00 target price on shares of Nordstrom in a report on Tuesday, September 13th. Vetr raised Nordstrom from a “strong sell” rating to a “sell” rating and set a $46.00 target price on the stock in a report on Wednesday, August 31st. Guggenheim initiated coverage on Nordstrom in a report on Friday, September 30th. They set a “buy” rating and a $60.00 target price on the stock. Finally, Piper Jaffray Cos. reaffirmed an “overweight” rating and set a $56.00 target price (up previously from $53.00) on shares of Nordstrom in a report on Wednesday, August 10th. Seven investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating and seven have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $48.52.
Shares of Nordstrom (NYSE:JWN) opened at 58.72 on Monday. The company has a 50 day moving average price of $52.93 and a 200-day moving average price of $46.42. Nordstrom has a 1-year low of $35.01 and a 1-year high of $59.37. The stock has a market capitalization of $10.18 billion, a P/E ratio of 25.02 and a beta of 1.02.
Nordstrom (NYSE:JWN) last posted its quarterly earnings results on Thursday, November 10th. The company reported $0.84 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.32. Nordstrom had a return on equity of 58.85% and a net margin of 2.28%. The firm had revenue of $3.47 billion for the quarter, compared to the consensus estimate of $3.49 billion. During the same period in the previous year, the business earned $0.57 earnings per share. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year.
Several large investors have recently added to or reduced their stakes in the company. Synovus Financial Corp raised its stake in Nordstrom by 0.8% in the third quarter. Synovus Financial Corp now owns 3,070 shares of the company’s stock valued at $158,000 after buying an additional 24 shares in the last quarter. Gemmer Asset Management LLC boosted its stake in shares of Nordstrom by 1.2% in the third quarter. Gemmer Asset Management LLC now owns 2,219 shares of the company’s stock valued at $115,000 after buying an additional 26 shares during the period. Brown Advisory Inc. boosted its stake in shares of Nordstrom by 0.4% in the second quarter. Brown Advisory Inc. now owns 12,076 shares of the company’s stock valued at $460,000 after buying an additional 50 shares during the period. Raab & Moskowitz Asset Management LLC boosted its stake in shares of Nordstrom by 0.6% in the third quarter. Raab & Moskowitz Asset Management LLC now owns 8,124 shares of the company’s stock valued at $421,000 after buying an additional 51 shares during the period. Finally, Concert Wealth Management Inc. boosted its stake in shares of Nordstrom by 0.5% in the third quarter. Concert Wealth Management Inc. now owns 14,043 shares of the company’s stock valued at $730,000 after buying an additional 68 shares during the period. 66.50% of the stock is owned by institutional investors and hedge funds.
In other news, insider Daniel F. Little sold 5,270 shares of the firm’s stock in a transaction on Thursday, October 6th. The stock was 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 of the company’s stock, valued at approximately $3,683,664. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Daniel F. Little sold 12,770 shares of the firm’s stock in a transaction on Wednesday, October 5th. The stock was sold at an average price of $53.00, for a total value of $676,810.00. The disclosure for this sale can be found here. Insiders own 7.03% of the company’s stock.
Nordstrom Company Profile
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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