Nordstrom, Inc. (JWN) Receives $47.35 Average Target Price from Brokerages
Nordstrom, Inc. (NYSE:JWN) has been given an average rating of “Hold” by the twenty-one research firms that are covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a sell recommendation, thirteen have issued a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $47.35.
A number of equities research analysts have recently weighed in on JWN shares. Credit Suisse Group started coverage on shares of Nordstrom in a report on Monday, March 12th. They set a “neutral” rating and a $54.00 price objective on the stock. Robert W. Baird set a $53.00 price objective on shares of Nordstrom and gave the company a “hold” rating in a report on Thursday, March 1st. Royal Bank of Canada set a $49.00 price objective on shares of Nordstrom and gave the company a “hold” rating in a report on Friday, March 2nd. TheStreet raised shares of Nordstrom from a “c+” rating to a “b-” rating in a report on Friday, March 2nd. Finally, Piper Jaffray Companies set a $48.00 price objective on shares of Nordstrom and gave the company a “hold” rating in a report on Thursday, March 1st.
In other Nordstrom news, insider Ken Worzel sold 13,703 shares of the company’s stock in a transaction dated Wednesday, April 11th. The shares were sold at an average price of $48.97, for a total value of $671,035.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CMO Scott A. Meden sold 10,000 shares of the company’s stock in a transaction dated Thursday, April 12th. The stock was sold at an average price of $49.02, for a total transaction of $490,200.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 40,466 shares of company stock valued at $2,003,183. Insiders own 7.05% of the company’s stock.
Shares of Nordstrom traded down $1.52, hitting $49.97, on Monday, Marketbeat.com reports. 126,253 shares of the company traded hands, compared to its average volume of 2,044,579. The company has a debt-to-equity ratio of 2.50, a quick ratio of 0.44 and a current ratio of 1.09. Nordstrom has a 52 week low of $37.79 and a 52 week high of $54.00. The company has a market capitalization of $8.75 billion, a PE ratio of 16.90, a P/E/G ratio of 2.53 and a beta of 0.81.
Nordstrom (NYSE:JWN) last posted its quarterly earnings results on Thursday, May 17th. The specialty retailer reported $0.51 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.08. The firm had revenue of $3.56 billion during the quarter, compared to the consensus estimate of $3.47 billion. Nordstrom had a net margin of 2.96% and a return on equity of 55.75%. During the same quarter in the previous year, the firm posted $0.37 earnings per share. analysts forecast that Nordstrom will post 3.45 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, June 4th. Shareholders of record on Friday, May 18th were given a $0.37 dividend. The ex-dividend date of this dividend was Thursday, May 17th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.96%. Nordstrom’s dividend payout ratio (DPR) is currently 50.00%.
Nordstrom, Inc, a fashion retailer, provides apparel, shoes, cosmetics, and accessories for women, men, young adults, and children in the United States and Canada. The company operates in two segments, Retail and Credit. The Retail segment offers a range of brand name and private label merchandise through various channels, including Nordstrom branded full-line stores and online store at Nordstrom.com; Nordstrom Rack stores; Nordstromrack.com and HauteLook; Trunk Club clubhouses and TrunkClub.com; Jeffrey boutiques; and clearance stores that operate under the Last Chance name.
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