Nordstrom, Inc. (JWN) Rating Reiterated by KeyCorp
KeyCorp restated their overweight rating on shares of Nordstrom, Inc. (NYSE:JWN) in a research note published on Monday. They currently have a $55.00 price target on the specialty retailer’s stock. KeyCorp also issued estimates for Nordstrom’s Q4 2018 earnings at $1.29 EPS, FY2018 earnings at $3.02 EPS, Q2 2019 earnings at $0.68 EPS and Q3 2019 earnings at $0.70 EPS.
A number of other research firms have also commented on JWN. Vetr lowered Nordstrom from a buy rating to a hold rating and set a $43.99 price target on the stock. in a research report on Monday, May 29th. Piper Jaffray Companies set a $42.00 price target on Nordstrom and gave the stock a hold rating in a research report on Saturday, May 13th. Zacks Investment Research upgraded Nordstrom from a hold rating to a buy rating and set a $53.00 price target on the stock in a research report on Thursday, August 10th. Robert W. Baird set a $50.00 price target on Nordstrom and gave the stock a hold rating in a research report on Saturday, May 13th. Finally, BidaskClub lowered Nordstrom from a buy rating to a hold rating in a research report on Saturday, August 12th. Four equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and eight have given a buy rating to the company’s stock. Nordstrom presently has an average rating of Hold and a consensus price target of $48.10.
Shares of Nordstrom (NYSE JWN) opened at 44.44 on Monday. The stock has a market capitalization of $7.39 billion, a P/E ratio of 21.05 and a beta of 0.83. Nordstrom has a 12-month low of $39.53 and a 12-month high of $62.82. The firm’s 50-day moving average price is $46.97 and its 200 day moving average price is $45.53.
Nordstrom (NYSE:JWN) last released its quarterly earnings results on Thursday, August 10th. The specialty retailer reported $0.65 EPS for the quarter, topping the Zacks’ consensus estimate of $0.62 by $0.03. The business had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.70 billion. Nordstrom had a return on equity of 71.57% and a net margin of 2.44%. Nordstrom’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.67 EPS. Analysts predict that Nordstrom will post $2.97 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 12th. Shareholders of record on Monday, August 28th will be paid a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 3.33%. The ex-dividend date is Thursday, August 24th. Nordstrom’s dividend payout ratio is 70.14%.
Several hedge funds have recently added to or reduced their stakes in the stock. Parallel Advisors LLC increased its stake in Nordstrom by 12.7% in the first quarter. Parallel Advisors LLC now owns 2,099 shares of the specialty retailer’s stock worth $104,000 after buying an additional 236 shares in the last quarter. Gemmer Asset Management LLC increased its stake in Nordstrom by 0.8% in the first quarter. Gemmer Asset Management LLC now owns 2,252 shares of the specialty retailer’s stock worth $105,000 after buying an additional 18 shares in the last quarter. Ledyard National Bank increased its stake in Nordstrom by 291.1% in the first quarter. Ledyard National Bank now owns 2,362 shares of the specialty retailer’s stock worth $110,000 after buying an additional 1,758 shares in the last quarter. Advisory Services Network LLC bought a new stake in Nordstrom during the first quarter worth about $113,000. Finally, NEXT Financial Group Inc increased its stake in Nordstrom by 55.4% in the second quarter. NEXT Financial Group Inc now owns 2,642 shares of the specialty retailer’s stock worth $126,000 after buying an additional 942 shares in the last quarter. 66.53% of the stock is currently owned by institutional investors and hedge funds.
Nordstrom Company Profile
Nordstrom, Inc is a fashion specialty retailer in the United States. The Company’s segments include Retail and Credit. As of March 20, 2017, the Company operated 344 the United States stores located in 40 states as well as an e-commerce business. The Company also offers its customers a variety of payment products and services, including credit and debit cards.
Receive News & Stock Ratings for Nordstrom Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nordstrom Inc. and related stocks with our FREE daily email newsletter.