Analysts Expect Nordstrom, Inc. (JWN) Will Post Quarterly Sales of $3.53 Billion

Analysts forecast that Nordstrom, Inc. (NYSE:JWN) will report $3.53 billion in sales for the current quarter, according to Zacks Investment Research. Six analysts have issued estimates for Nordstrom’s earnings. The highest sales estimate is $3.59 billion and the lowest is $3.46 billion. Nordstrom reported sales of $3.56 billion during the same quarter last year, which indicates a negative year over year growth rate of 0.8%. The company is expected to issue its next quarterly earnings results on Thursday, May 16th.

According to Zacks, analysts expect that Nordstrom will report full-year sales of $15.90 billion for the current fiscal year, with estimates ranging from $15.70 billion to $16.16 billion. For the next year, analysts expect that the business will report sales of $16.19 billion, with estimates ranging from $15.85 billion to $16.51 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Nordstrom.

Nordstrom (NYSE:JWN) last issued its quarterly earnings data on Thursday, February 28th. The specialty retailer reported $1.48 EPS for the quarter, beating the Zacks’ consensus estimate of $1.42 by $0.06. Nordstrom had a net margin of 3.56% and a return on equity of 57.14%. During the same period in the previous year, the business posted $1.20 EPS.

Several equities research analysts have issued reports on JWN shares. Zacks Investment Research raised shares of Nordstrom from a “hold” rating to a “buy” rating and set a $59.00 price target on the stock in a research note on Wednesday, November 28th. Goldman Sachs Group set a $73.00 price target on shares of Nordstrom and gave the stock a “buy” rating in a research note on Friday, November 16th. Deutsche Bank decreased their price target on shares of Nordstrom from $68.00 to $64.00 and set a “buy” rating on the stock in a research note on Friday, November 16th. TheStreet cut shares of Nordstrom from a “b-” rating to a “c+” rating in a research note on Tuesday, January 8th. Finally, Morgan Stanley raised shares of Nordstrom from an “underweight” rating to an “equal weight” rating and set a $48.40 price target on the stock in a research note on Tuesday, January 8th. Three investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $52.79.

In other news, insider Erik B. Nordstrom sold 17,762 shares of the stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $44.07, for a total transaction of $782,771.34. Following the transaction, the insider now directly owns 2,653,314 shares in the company, valued at approximately $116,931,547.98. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Erik B. Nordstrom sold 1,169 shares of the stock in a transaction dated Monday, February 25th. The stock was sold at an average price of $44.70, for a total transaction of $52,254.30. Following the transaction, the insider now owns 2,671,406 shares in the company, valued at $119,411,848.20. The disclosure for this sale can be found here. Corporate insiders own 7.05% of the company’s stock.

Several hedge funds have recently made changes to their positions in JWN. First Trust Advisors LP raised its holdings in Nordstrom by 44.9% in the third quarter. First Trust Advisors LP now owns 79,606 shares of the specialty retailer’s stock valued at $4,761,000 after buying an additional 24,685 shares during the period. Russell Investments Group Ltd. raised its holdings in Nordstrom by 191.3% in the third quarter. Russell Investments Group Ltd. now owns 122,521 shares of the specialty retailer’s stock valued at $7,332,000 after buying an additional 80,459 shares during the period. Acadian Asset Management LLC raised its holdings in Nordstrom by 86.1% in the third quarter. Acadian Asset Management LLC now owns 3,501 shares of the specialty retailer’s stock valued at $209,000 after buying an additional 1,620 shares during the period. Robeco Institutional Asset Management B.V. raised its holdings in Nordstrom by 41.7% in the third quarter. Robeco Institutional Asset Management B.V. now owns 857,774 shares of the specialty retailer’s stock valued at $51,306,000 after buying an additional 252,605 shares during the period. Finally, Chicago Equity Partners LLC purchased a new position in Nordstrom in the third quarter valued at approximately $907,000. Institutional investors and hedge funds own 60.50% of the company’s stock.

Nordstrom stock opened at $44.46 on Tuesday. Nordstrom has a 12-month low of $43.04 and a 12-month high of $67.75. The stock has a market cap of $7.44 billion, a price-to-earnings ratio of 12.52, a PEG ratio of 1.97 and a beta of 0.54. The company has a debt-to-equity ratio of 3.07, a quick ratio of 0.41 and a current ratio of 1.00.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 26th. Stockholders of record on Monday, March 11th will be issued a dividend of $0.37 per share. The ex-dividend date is Friday, March 8th. This represents a $1.48 annualized dividend and a dividend yield of 3.33%. Nordstrom’s payout ratio is currently 41.69%.

About Nordstrom

Nordstrom, Inc, a fashion retailer, provides apparel, shoes, cosmetics, and accessories for women, men, young adults, and children. The company operates in two segments, Retail and Credit. The Retail segment offers a range of brand name and private label merchandise through various channels, including Nordstrom branded full-line stores and online store at Nordstrom.com; Nordstrom Rack stores; Nordstromrack.com and HauteLook; Trunk Club clubhouses and TrunkClub.com; Jeffrey boutiques; and clearance stores that operate under the Last Chance name.

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