Nordstrom, Inc. (NYSE:JWN) – Research analysts at Northcoast Research raised their FY2018 earnings per share estimates for shares of Nordstrom in a research note issued to investors on Wednesday. Northcoast Research analyst K. Szafraniec now anticipates that the specialty retailer will post earnings per share of $2.97 for the year, up from their previous estimate of $2.95. Northcoast Research also issued estimates for Nordstrom’s Q4 2018 earnings at $1.21 EPS and FY2019 earnings at $3.10 EPS.
A number of other research analysts also recently weighed in on the company. KeyCorp restated an “outperform” rating on shares of Nordstrom in a research note on Friday, November 10th. Zacks Investment Research downgraded Nordstrom from a “hold” rating to a “sell” rating in a research note on Tuesday, October 31st. Robert W. Baird restated a “hold” rating and issued a $50.00 price target on shares of Nordstrom in a research note on Wednesday, November 1st. Piper Jaffray Companies restated a “hold” rating on shares of Nordstrom in a research note on Thursday, October 19th. Finally, Bank of America reduced their target price on Nordstrom from $40.00 to $35.00 and set an “underperform” rating for the company in a research note on Friday, November 10th. Three research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Nordstrom presently has an average rating of “Hold” and an average price target of $46.63.
Nordstrom (NYSE:JWN) last posted its quarterly earnings results on Thursday, November 9th. The specialty retailer reported $0.67 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.04. The firm had revenue of $3.54 billion during the quarter, compared to the consensus estimate of $3.50 billion. Nordstrom had a return on equity of 67.44% and a net margin of 3.25%. The business’s revenue was up 2.0% compared to the same quarter last year. During the same period last year, the company earned $0.84 earnings per share.
A number of large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its holdings in Nordstrom by 1.9% during the 2nd quarter. BlackRock Inc. now owns 8,171,548 shares of the specialty retailer’s stock worth $390,843,000 after purchasing an additional 150,539 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in Nordstrom by 7.4% during the 3rd quarter. Principal Financial Group Inc. now owns 1,967,191 shares of the specialty retailer’s stock worth $92,752,000 after purchasing an additional 136,053 shares during the last quarter. York Capital Management Global Advisors LLC acquired a new stake in Nordstrom during the 2nd quarter worth approximately $75,623,000. APG Asset Management N.V. lifted its holdings in Nordstrom by 6.8% during the 3rd quarter. APG Asset Management N.V. now owns 1,519,455 shares of the specialty retailer’s stock worth $71,642,000 after purchasing an additional 97,000 shares during the last quarter. Finally, Franklin Resources Inc. lifted its holdings in Nordstrom by 245.1% during the 2nd quarter. Franklin Resources Inc. now owns 1,064,584 shares of the specialty retailer’s stock worth $50,919,000 after purchasing an additional 756,061 shares during the last quarter. 57.58% of the stock is owned by institutional investors and hedge funds.
COPYRIGHT VIOLATION WARNING: This article was first posted by Community Financial News and is owned by of Community Financial News. If you are accessing this article on another publication, it was illegally stolen and reposted in violation of U.S. and international trademark and copyright laws. The correct version of this article can be viewed at https://www.com-unik.info/2018/01/13/fy2018-eps-estimates-for-nordstrom-inc-jwn-increased-by-analyst.html.
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.
Receive News & Ratings for Nordstrom Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nordstrom and related companies with MarketBeat.com's FREE daily email newsletter.