William Blair Reaffirms “Outperform” Rating for Nordstrom, Inc. (JWN)
William Blair restated their outperform rating on shares of Nordstrom, Inc. (NYSE:JWN) in a research note issued to investors on Tuesday. William Blair also issued estimates for Nordstrom’s Q1 2019 earnings at $0.43 EPS, Q2 2019 earnings at $0.69 EPS, Q3 2019 earnings at $0.64 EPS and Q4 2019 earnings at $1.27 EPS.
JWN has been the subject of a number of other research reports. Gordon Haskett reaffirmed an accumulate rating on shares of Nordstrom in a research report on Friday, June 9th. J P Morgan Chase & Co reaffirmed an underweight rating and set a $48.00 price target on shares of Nordstrom in a research report on Friday, July 14th. ValuEngine lowered Nordstrom from a buy rating to a hold rating in a research report on Friday, September 1st. Vetr lowered Nordstrom from a sell rating to a strong sell rating and set a $41.54 price target for the company. in a research report on Monday, July 17th. Finally, Piper Jaffray Companies set a $42.00 price target on Nordstrom and gave the company a hold rating in a research report on Tuesday, July 25th. Four investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eight have assigned a buy rating to the company. The stock has a consensus rating of Hold and a consensus price target of $48.26.
Shares of Nordstrom (NYSE:JWN) opened at 46.76 on Tuesday. The company’s 50-day moving average price is $45.90 and its 200 day moving average price is $45.62. Nordstrom has a 1-year low of $39.53 and a 1-year high of $62.82. The firm has a market cap of $7.77 billion, a PE ratio of 22.15 and a beta of 0.82.
Nordstrom (NYSE:JWN) last released its quarterly earnings results on Thursday, August 10th. The specialty retailer reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.03. The business had revenue of $3.72 billion during the quarter, compared to analyst estimates of $3.70 billion. Nordstrom had a return on equity of 71.57% and a net margin of 2.44%. Nordstrom’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.67 EPS. On average, analysts predict that Nordstrom will post $2.97 EPS for the current year.
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The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 12th. Shareholders of record on Monday, August 28th were paid a dividend of $0.37 per share. The ex-dividend date of this dividend was Thursday, August 24th. This represents a $1.48 annualized dividend and a yield of 3.17%. Nordstrom’s dividend payout ratio is 70.14%.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Griffin Asset Management Inc. purchased a new stake in Nordstrom during the 2nd quarter valued at $684,000. Achmea Investment Management B.V. boosted its stake in Nordstrom by 10.0% during the 2nd quarter. Achmea Investment Management B.V. now owns 46,462 shares of the specialty retailer’s stock valued at $2,218,000 after purchasing an additional 4,235 shares during the last quarter. Toronto Dominion Bank boosted its stake in Nordstrom by 22.6% during the 2nd quarter. Toronto Dominion Bank now owns 37,889 shares of the specialty retailer’s stock valued at $1,812,000 after purchasing an additional 6,975 shares during the last quarter. Cetera Investment Advisers purchased a new stake in Nordstrom during the 2nd quarter valued at $269,000. Finally, Advisory Services Network LLC boosted its stake in Nordstrom by 41.8% during the 2nd quarter. Advisory Services Network LLC now owns 3,452 shares of the specialty retailer’s stock valued at $165,000 after purchasing an additional 1,018 shares during the last quarter. Institutional investors and hedge funds own 63.71% of the company’s stock.
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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