Shares of Nordstrom, Inc. (NYSE:JWN) have received a consensus recommendation of “Hold” from the thirty brokerages that are presently covering the company, Marketbeat Ratings reports. Four research analysts have rated the stock with a sell recommendation, seventeen have given a hold recommendation and eight have given a buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $47.75.
A number of brokerages recently commented on JWN. Vetr cut Nordstrom from a “sell” rating to a “strong sell” rating and set a $41.54 target price on the stock. in a report on Wednesday, July 5th. Piper Jaffray Companies set a $42.00 target price on Nordstrom and gave the stock a “hold” rating in a report on Tuesday, July 25th. KeyCorp reaffirmed an “overweight” rating and issued a $55.00 target price on shares of Nordstrom in a report on Thursday, September 14th. J P Morgan Chase & Co reaffirmed an “underweight” rating and issued a $48.00 target price on shares of Nordstrom in a report on Friday, July 14th. Finally, Credit Suisse Group reaffirmed a “buy” rating and issued a $52.00 target price on shares of Nordstrom in a report on Thursday, August 10th.
Nordstrom (JWN) opened at 40.97 on Friday. The stock has a market capitalization of $6.81 billion, a PE ratio of 19.41 and a beta of 0.85. The stock has a 50 day moving average price of $44.41 and a 200 day moving average price of $45.54. Nordstrom has a 12 month low of $39.53 and a 12 month high of $62.82.
Nordstrom (NYSE:JWN) last released its quarterly earnings results on Thursday, August 10th. The specialty retailer reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.03. Nordstrom had a return on equity of 71.57% and a net margin of 2.44%. The firm had revenue of $3.72 billion for the quarter, compared to analysts’ expectations of $3.70 billion. During the same period in the prior year, the firm earned $0.67 EPS. The company’s revenue was up 3.5% compared to the same quarter last year. On average, equities research analysts forecast that Nordstrom will post $2.98 earnings per share for the current fiscal year.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in JWN. BlackRock Inc. grew its position in Nordstrom by 2,321.7% in the first quarter. BlackRock Inc. now owns 8,021,009 shares of the specialty retailer’s stock worth $373,537,000 after acquiring an additional 7,689,800 shares in the last quarter. Bank of New York Mellon Corp grew its position 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 worth $520,501,000 after acquiring an additional 2,985,551 shares in the last quarter. York Capital Management Global Advisors LLC purchased a new position in Nordstrom in the second quarter worth about $75,623,000. Principal Financial Group Inc. grew its position 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 worth $87,584,000 after acquiring an additional 1,149,685 shares in the last quarter. Finally, Disciplined Growth Investors Inc. MN grew its position 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 worth $42,722,000 after acquiring an additional 822,038 shares in the last quarter. Institutional investors own 63.07% of the company’s stock.
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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