Nordstrom (JWN) Upgraded to “Hold” by Zacks Investment Research

Zacks Investment Research upgraded shares of Nordstrom (NYSE:JWN) from a sell rating to a hold rating in a report published on Wednesday.

According to Zacks, “Nordstrom has been gaining from the smooth execution of customer strategy along with disciplined inventory and expense management. Also, the company is enhancing market share through persistent store expansion and strengthening capabilities through further investments, particularly in digital growth. Notably, its third-quarter fiscal 2017 results marked sixth straight time of earnings beat, sales topped the Zacks Consensus Estimate for the second consecutive quarter. However, the company has underperformed the industry in the last three months. Also, higher investments toward occupancy, technology, supply chain and marketing are weighing upon the company's performance. Consequently, its merchandise margin was hurt by higher occupancy expenses related to new Rack and Canada stores in the last quarter, leading to lower gross margin. Additionally, the company expects these hurdles to continue hurting results in fiscal 2017.”

Several other equities analysts have also commented on JWN. Robert W. Baird set a $49.00 price target on shares of Nordstrom and gave the company a hold rating in a research note on Friday, December 22nd. UBS Group dropped their price target on shares of Nordstrom from $46.00 to $43.00 and set a neutral rating on the stock in a research note on Friday, November 10th. Royal Bank of Canada reiterated a hold rating and issued a $45.00 price target on shares of Nordstrom in a research note on Thursday, October 5th. Cowen reiterated a buy rating and issued a $50.00 price target on shares of Nordstrom in a research note on Friday, November 10th. Finally, BMO Capital Markets set a $44.00 price target on shares of Nordstrom and gave the company a hold rating in a research note on Monday, November 13th. Four analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Nordstrom has a consensus rating of Hold and an average target price of $45.59.

Nordstrom (NYSE:JWN) opened at $47.93 on Wednesday. The company has a market cap of $7,919.33, a P/E ratio of 16.88, a price-to-earnings-growth ratio of 2.69 and a beta of 0.90. Nordstrom has a one year low of $37.79 and a one year high of $50.32. The company has a quick ratio of 0.30, a current ratio of 1.00 and a debt-to-equity ratio of 3.14.

Nordstrom (NYSE:JWN) last announced its quarterly earnings results on Thursday, November 9th. The specialty retailer reported $0.67 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.04. The company had revenue of $3.54 billion for the quarter, compared to analyst estimates of $3.50 billion. Nordstrom had a net margin of 3.25% and a return on equity of 67.44%. The firm’s revenue was up 2.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.84 earnings per share. equities research analysts anticipate that Nordstrom will post 2.95 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 12th. Investors of record on Monday, November 27th were given a $0.37 dividend. The ex-dividend date was Friday, November 24th. This represents a $1.48 dividend on an annualized basis and a yield of 3.09%. Nordstrom’s dividend payout ratio (DPR) is 52.11%.

Institutional investors have recently added to or reduced their stakes in the business. San Francisco Sentry Investment Group CA lifted its holdings in Nordstrom by 1,752.0% in the third quarter. San Francisco Sentry Investment Group CA now owns 2,315 shares of the specialty retailer’s stock valued at $109,000 after acquiring an additional 2,190 shares during the period. Sei Investments Co. lifted its holdings in Nordstrom by 32.0% in the second quarter. Sei Investments Co. now owns 3,177 shares of the specialty retailer’s stock valued at $152,000 after acquiring an additional 771 shares during the period. Advisory Services Network LLC lifted its holdings in Nordstrom by 41.8% in the second quarter. Advisory Services Network LLC now owns 3,452 shares of the specialty retailer’s stock valued at $165,000 after acquiring an additional 1,018 shares during the period. Thrivent Financial For Lutherans acquired a new stake in Nordstrom in the second quarter valued at $202,000. Finally, Nordea Investment Management AB lifted its holdings in Nordstrom by 7.2% in the second quarter. Nordea Investment Management AB now owns 4,264 shares of the specialty retailer’s stock valued at $204,000 after acquiring an additional 287 shares during the period. 57.58% of the stock is owned by institutional investors.

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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.

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