Nordstrom, Inc. (NYSE:JWN) – Equities research analysts at Northcoast Research dropped their Q3 2018 earnings per share (EPS) estimates for shares of Nordstrom in a research report issued on Tuesday. Northcoast Research analyst K. Szafraniec now forecasts that the specialty retailer will post earnings per share of $0.62 for the quarter, down from their prior estimate of $0.64. Northcoast Research has a “Neutral” rating on the stock. Northcoast Research also issued estimates for Nordstrom’s Q4 2018 earnings at $1.30 EPS.
A number of other equities research analysts also recently weighed in on JWN. BMO Capital Markets set a $48.00 price target on Nordstrom and gave the company a “hold” rating in a research report on Saturday, May 13th. Robert W. Baird set a $50.00 price target on Nordstrom and gave the company a “hold” rating in a research report on Saturday, May 13th. Piper Jaffray Companies set a $42.00 price target on Nordstrom and gave the company a “hold” rating in a research report on Saturday, May 13th. UBS AG restated a “buy” rating and set a $51.00 price target on shares of Nordstrom in a research report on Monday, May 15th. Finally, Wolfe Research raised their price target on Nordstrom from $45.00 to $47.00 and gave the company an “outperform” rating in a research report on Friday, August 11th. Four investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $48.10.
Shares of Nordstrom (NYSE:JWN) traded down 0.169% during trading on Wednesday, reaching $44.365. The company’s stock had a trading volume of 377,807 shares. Nordstrom has a 12-month low of $39.53 and a 12-month high of $62.82. The stock has a market cap of $7.37 billion, a P/E ratio of 21.016 and a beta of 0.83. The stock’s 50-day moving average is $46.97 and its 200-day moving average is $45.53.
Nordstrom (NYSE:JWN) last issued its earnings results on Thursday, August 10th. The specialty retailer reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.03. Nordstrom had a return on equity of 71.57% and a net margin of 2.44%. The business had revenue of $3.72 billion during the quarter, compared to analysts’ expectations of $3.70 billion. During the same quarter in the prior year, the firm earned $0.67 EPS. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 12th. Shareholders of record on Monday, August 28th will be given a dividend of $0.37 per share. The ex-dividend date is Thursday, August 24th. This represents a $1.48 annualized dividend and a yield of 3.33%. Nordstrom’s payout ratio is 70.14%.
A number of hedge funds have recently bought and sold shares of JWN. BlackRock Inc. boosted its stake in Nordstrom by 2,321.7% in the first quarter. BlackRock Inc. now owns 8,021,009 shares of the specialty retailer’s stock valued at $373,537,000 after buying an additional 7,689,800 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Nordstrom by 37.8% in the second quarter. Bank of New York Mellon Corp now owns 10,882,305 shares of the specialty retailer’s stock valued at $520,501,000 after buying an additional 2,985,551 shares during the last quarter. York Capital Management Global Advisors LLC purchased a new stake in Nordstrom during the second quarter valued at $75,623,000. Principal Financial Group Inc. boosted its stake in Nordstrom by 168.7% in the second quarter. Principal Financial Group Inc. now owns 1,831,138 shares of the specialty retailer’s stock valued at $87,584,000 after buying an additional 1,149,685 shares during the last quarter. Finally, Disciplined Growth Investors Inc. MN boosted its stake in Nordstrom by 1,155.2% in the second quarter. Disciplined Growth Investors Inc. MN now owns 893,200 shares of the specialty retailer’s stock valued at $42,722,000 after buying an additional 822,038 shares during the last quarter. 66.53% of the stock is currently owned by institutional investors and hedge funds.
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.
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