BMO Capital Markets Analysts Give Nordstrom (JWN) a $50.00 Price Target

Nordstrom (NYSE:JWN) has been given a $50.00 price objective by research analysts at BMO Capital Markets in a note issued to investors on Friday. The firm presently has a “hold” rating on the specialty retailer’s stock. BMO Capital Markets’ price target would suggest a potential downside of 0.18% from the company’s previous close.

JWN has been the topic of a number of other reports. UBS Group reduced their price objective on shares of Nordstrom from $46.00 to $43.00 and set a “neutral” rating on the stock in a research report on Friday, November 10th. Piper Jaffray Companies set a $45.00 price objective on shares of Nordstrom and gave the stock a “hold” rating in a research report on Wednesday. Robert W. Baird reissued a “hold” rating and issued a $50.00 price objective on shares of Nordstrom in a research report on Wednesday, November 1st. Zacks Investment Research raised shares of Nordstrom from a “sell” rating to a “hold” rating in a research report on Wednesday, December 27th. Finally, Cowen reissued a “buy” rating and issued a $50.00 price objective on shares of Nordstrom in a research report on Friday, November 10th. Three research analysts have rated the stock with a sell rating, eighteen have given a hold rating and seven have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $46.63.

Nordstrom (NYSE JWN) traded up $0.89 during trading on Friday, reaching $50.09. 2,008,400 shares of the company were exchanged, compared to its average volume of 2,250,250. The company has a debt-to-equity ratio of 3.14, a current ratio of 1.00 and a quick ratio of 0.30. Nordstrom has a 12 month low of $37.79 and a 12 month high of $50.32. The stock has a market cap of $8,340.00, a price-to-earnings ratio of 17.58, a P/E/G ratio of 2.71 and a beta of 0.89.

Nordstrom (NYSE:JWN) last posted its quarterly earnings data on Thursday, November 9th. The specialty retailer reported $0.67 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.04. Nordstrom had a net margin of 3.25% and a return on equity of 67.44%. The company had revenue of $3.54 billion for the quarter, compared to analyst estimates of $3.50 billion. During the same period in the prior year, the company posted $0.84 EPS. The firm’s revenue for the quarter was up 2.0% on a year-over-year basis. equities analysts predict that Nordstrom will post 2.96 EPS for the current year.

A number of hedge funds have recently modified their holdings of JWN. Millie Capital Management LLC boosted its stake in shares of Nordstrom by 0.5% during the second quarter. Millie Capital Management LLC now owns 43,820 shares of the specialty retailer’s stock valued at $2,096,000 after purchasing an additional 204 shares in the last quarter. Nordea Investment Management AB boosted its stake in shares of Nordstrom by 7.2% during the second quarter. Nordea Investment Management AB now owns 4,264 shares of the specialty retailer’s stock valued at $204,000 after purchasing an additional 287 shares in the last quarter. Rowland & Co. Investment Counsel ADV boosted its stake in shares of Nordstrom by 2.3% during the second quarter. Rowland & Co. Investment Counsel ADV now owns 29,268 shares of the specialty retailer’s stock valued at $1,406,000 after purchasing an additional 658 shares in the last quarter. Pacer Advisors Inc. boosted its stake in shares of Nordstrom by 15.0% during the second quarter. Pacer Advisors Inc. now owns 5,053 shares of the specialty retailer’s stock valued at $242,000 after purchasing an additional 659 shares in the last quarter. Finally, Stephens Inc. AR boosted its stake in shares of Nordstrom by 10.3% during the second quarter. Stephens Inc. AR now owns 7,525 shares of the specialty retailer’s stock valued at $360,000 after purchasing an additional 700 shares in the last quarter. Institutional investors and hedge funds own 57.58% of the company’s stock.

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About Nordstrom

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.

Analyst Recommendations for Nordstrom (NYSE:JWN)

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