Several brokerages have updated their recommendations and price targets on shares of Nordstrom (NYSE: JWN) in the last few weeks:

  • 11/14/2016 – Nordstrom was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $66.00 price target on the stock. According to Zacks, “Nordstrom posted solid results for third-quarter fiscal 2016, wherein the bottom line marked its second consecutive beat and the top line crushed estimates after four straight misses. While earnings were driven by strong sales, solid inventory alignment and operational efficiencies, the top line was fuelled by favorable shift of the company’s grand Anniversary Sale event. Further, gross margin expansion and SG&A expense leverage largely aided the quarterly performance. All these factors encouraged management to raise its fiscal 2016 earnings outlook, which in turned pushed estimates upward. Also, Nordstrom’s strong brand image, amendments to its operating model to generate cost savings, and constant store expansion efforts remain driving factors. However, stiff competition from other departmental retailers remains a threat for the company. Sluggishness in consumer traffic also poses a concern.”
  • 11/14/2016 – Nordstrom had its “hold” rating reaffirmed by analysts at BMO Capital Markets.
  • 11/11/2016 – Nordstrom had its price target raised by analysts at Telsey Advisory Group from $53.00 to $60.00. They now have a “market perform” rating on the stock.
  • 11/11/2016 – Nordstrom had its price target raised by analysts at Maxim Group from $54.00 to $61.00. They now have a “buy” rating on the stock.
  • 11/11/2016 – Nordstrom had its “buy” rating reaffirmed by analysts at KeyCorp.
  • 11/11/2016 – Nordstrom was given a new $40.00 price target on by analysts at Bank of America Corp.. They now have a “sell” rating on the stock.
  • 11/11/2016 – Nordstrom was given a new $64.00 price target on by analysts at Cowen and Company. They now have a “buy” rating on the stock.
  • 11/11/2016 – Nordstrom was given a new $62.00 price target on by analysts at Stifel Nicolaus. They now have a “buy” rating on the stock.
  • 11/7/2016 – Nordstrom was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Nordstrom’s presence in the consumer-driven apparel space, keeps it exposed to the risks of changing tastes, preferences and spending behavior of consumers. In fact, the company has been missing sales estimates for four straight quarters now, with earnings dropping year over year for over a year and a half, as it has been bearing the brunt of challenging economic conditions. However, Nordstrom’s strategic investments should help it deliver sustainable growth over the long term. Additionally, the company’s strong brand image, amendments to its operating model to generate cost savings, and continuous store expansion remain driving factors. Estimates have also been stable lately ahead of the company's third-quarter earnings release. Nonetheless, the company faces stiff competition from other players that remains a threat to margins.”
  • 10/31/2016 – Nordstrom was downgraded by analysts at Deutsche Bank AG from a “buy” rating to a “hold” rating. They now have a $56.00 price target on the stock, down previously from $57.00. They noted that the move was a valuation call. They noted that the move was a valuation call.
  • 10/24/2016 – Nordstrom was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Nordstrom, with its strong brand image, amendments to operating model to generate cost savings, and continuous store expansion, is well positioned to deliver on its long term goals. We believe the company’s strategic investments should help expand its market share. We also appreciate Nordstrom’s move of boosting capital efficiency through the sale of its credit card portfolio and using the proceeds to lower debt and reward shareholders. Further, the company’s raised fiscal 2016 guidance driven by the success of its Anniversary sale event adds optimism. However, the company’s presence in the consumer-driven apparel space, keeps it exposed to the risks of changing tastes, preferences and spending behavior of consumers. Also, stiff competition from other players remains a threat to margins. Nonetheless, estimates have been stable lately ahead of the company's third-quarter earnings release.”
  • 9/30/2016 – Nordstrom is now covered by analysts at Guggenheim. They set a “buy” rating and a $60.00 price target on the stock.

Nordstrom Inc. (NYSE:JWN) traded up 0.14% during trading on Tuesday, reaching $56.14. 2,056,420 shares of the company’s stock traded hands. Nordstrom Inc. has a 1-year low of $35.01 and a 1-year high of $62.82. The firm has a 50 day moving average of $54.65 and a 200 day moving average of $46.96. The firm has a market capitalization of $9.72 billion, a PE ratio of 29.88 and a beta of 1.02.

Nordstrom (NYSE:JWN) last announced its quarterly earnings data on Thursday, November 10th. The company reported $0.84 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.32. Nordstrom had a net margin of 2.28% and a return on equity of 58.85%. The firm earned $3.47 billion during the quarter, compared to analysts’ expectations of $3.49 billion. During the same quarter last year, the business earned $0.57 earnings per share. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. Equities analysts forecast that Nordstrom Inc. will post $2.96 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 13th. Investors of record on Monday, November 28th will be paid a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 2.64%. The ex-dividend date is Wednesday, November 23rd. Nordstrom’s dividend payout ratio (DPR) is 79.14%.

In related news, insider Daniel F. Little sold 5,270 shares of the firm’s stock in a transaction dated Thursday, October 6th. The shares were sold at an average price of $54.00, for a total value of $284,580.00. Following the completion of the sale, the insider now owns 68,216 shares in the company, valued at $3,683,664. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Daniel F. Little sold 5,277 shares of the firm’s stock in a transaction dated Friday, October 7th. The shares were sold at an average price of $55.00, for a total transaction of $290,235.00. Following the completion of the sale, the insider now owns 68,223 shares of the company’s stock, valued at approximately $3,752,265. The disclosure for this sale can be found here. 7.03% of the stock is currently owned by corporate insiders.

Nordstrom, Inc is a fashion specialty retailer in the United States. The company operates through two segments: Retail and Credit. The Retail segment includes approximately 115 Nordstrom branded full-line stores in the United States and Nordstrom.com, approximately 167 off-price Nordstrom Rack stores, two Canada full-line stores, Nordstromrack.com and HauteLook, and other retail channels, including five Trunk Club showrooms and TrunkClub.com, its two Jeffrey boutiques and one clearance store that operates under the name Last Chance.

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