Zacks: Brokerages Anticipate Nordstrom, Inc. (NYSE:JWN) Will Announce Quarterly Sales of $3.72 Billion
Analysts expect Nordstrom, Inc. (NYSE:JWN) to announce sales of $3.72 billion for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Nordstrom’s earnings, with the highest sales estimate coming in at $3.75 billion and the lowest estimate coming in at $3.70 billion. Nordstrom posted sales of $3.65 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 1.9%. The company is expected to announce its next earnings results after the market closes on Thursday, August 10th.
According to Zacks, analysts expect that Nordstrom will report full year sales of $3.72 billion for the current fiscal year, with estimates ranging from $15.03 billion to $15.31 billion. For the next fiscal year, analysts expect that the company will post sales of $15.48 billion per share, with estimates ranging from $15.27 billion to $15.78 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover Nordstrom.
Several equities research analysts have recently weighed in on the company. Zacks Investment Research lowered Nordstrom from a “hold” rating to a “sell” rating in a research note on Wednesday, April 26th. Citigroup Inc. reduced their price objective on Nordstrom from $50.00 to $46.00 and set a “neutral” rating for the company in a research note on Friday, May 12th. Cowen and Company reissued an “outperform” rating and set a $49.00 price objective on shares of Nordstrom in a research note on Friday, June 9th. Northcoast Research reissued a “neutral” rating on shares of Nordstrom in a research note on Tuesday, May 16th. Finally, Maxim Group set a $61.00 price objective on Nordstrom and gave the stock a “buy” rating in a research note on Thursday, May 4th. Five investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and five 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 $47.23.
Shares of Nordstrom (NYSE:JWN) traded up 0.435% during trading on Friday, reaching $47.305. The company had a trading volume of 564,327 shares. The stock’s 50-day moving average price is $46.32 and its 200-day moving average price is $45.28. Nordstrom has a 12 month low of $39.05 and a 12 month high of $62.82. The stock has a market capitalization of $7.86 billion, a PE ratio of 22.147 and a beta of 0.83.
A number of institutional investors have recently bought and sold shares of JWN. APG Asset Management N.V. raised its position in Nordstrom by 1.1% in the second quarter. APG Asset Management N.V. now owns 1,422,455 shares of the specialty retailer’s stock valued at $68,036,000 after buying an additional 16,106 shares during the period. Washington Trust Bank raised its position in Nordstrom by 1.3% in the second quarter. Washington Trust Bank now owns 24,831 shares of the specialty retailer’s stock valued at $1,188,000 after buying an additional 324 shares during the period. Dubuque Bank & Trust Co. raised its position in Nordstrom by 3.6% in the second quarter. Dubuque Bank & Trust Co. now owns 140,440 shares of the specialty retailer’s stock valued at $6,717,000 after buying an additional 4,914 shares during the period. Prospera Financial Services Inc bought a new position in Nordstrom during the second quarter valued at $310,000. Finally, Douglas Lane & Associates LLC raised its position in Nordstrom by 5.5% in the second quarter. Douglas Lane & Associates LLC now owns 411,372 shares of the specialty retailer’s stock valued at $19,676,000 after buying an additional 21,345 shares during the period. Institutional investors own 64.07% of the company’s stock.
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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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