Nordstrom’s (JWN) Outperform Rating Reiterated at William Blair

Nordstrom, Inc. (NYSE:JWN)‘s stock had its “outperform” rating reaffirmed by stock analysts at William Blair in a report issued 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.

A number of other brokerages also recently issued reports on JWN. UBS AG restated a “buy” rating and set a $51.00 price objective on shares of Nordstrom in a research report on Monday, May 15th. Wolfe Research upped their price objective on Nordstrom from $45.00 to $47.00 and gave the company an “outperform” rating in a research report on Friday, August 11th. KeyCorp restated an “overweight” rating and set a $55.00 price objective on shares of Nordstrom in a research report on Monday, August 14th. BidaskClub downgraded Nordstrom from a “buy” rating to a “hold” rating in a research report on Saturday, August 12th. Finally, Credit Suisse Group reaffirmed a “buy” rating and set a $52.00 target price on shares of Nordstrom in a research note on Thursday, August 10th. Four equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and eight have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $48.10.

Nordstrom (NYSE:JWN) traded up 1.07% during mid-day trading on Tuesday, hitting $45.20. The company’s stock had a trading volume of 3,041,435 shares. The stock has a market cap of $7.51 billion, a P/E ratio of 21.41 and a beta of 0.82. The company’s 50 day moving average is $46.03 and its 200-day moving average is $45.62. Nordstrom has a 52-week low of $39.53 and a 52-week high of $62.82.

Nordstrom (NYSE:JWN) last announced its quarterly earnings data on Thursday, August 10th. The specialty retailer reported $0.65 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.03. Nordstrom had a return on equity of 71.57% and a net margin of 2.44%. The business had revenue of $3.72 billion for the quarter, compared to the consensus estimate of $3.70 billion. During the same period in the previous year, the business earned $0.67 earnings per share. The business’s revenue was up 3.5% on a year-over-year basis. On average, equities analysts predict that Nordstrom will post $2.97 EPS for the current fiscal year.

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A number of hedge funds have recently bought and sold shares of the stock. Bank of New York Mellon Corp boosted its holdings in Nordstrom by 37.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 10,882,305 shares of the specialty retailer’s stock worth $520,501,000 after buying an additional 2,985,551 shares during the last quarter. BlackRock Inc. boosted its holdings in Nordstrom by 1.9% in the 2nd quarter. BlackRock Inc. now owns 8,171,548 shares of the specialty retailer’s stock worth $390,843,000 after buying an additional 150,539 shares during the last quarter. State Street Corp boosted its holdings in Nordstrom by 2.6% in the 1st quarter. State Street Corp now owns 6,330,520 shares of the specialty retailer’s stock worth $294,822,000 after buying an additional 160,947 shares during the last quarter. Morgan Stanley boosted its holdings in Nordstrom by 9.8% in the 1st quarter. Morgan Stanley now owns 3,495,790 shares of the specialty retailer’s stock worth $162,799,000 after buying an additional 311,529 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ boosted its holdings in Nordstrom by 32.2% in the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 3,354,037 shares of the specialty retailer’s stock worth $156,198,000 after buying an additional 816,498 shares during the last quarter. Institutional investors own 63.71% of the company’s stock.

About Nordstrom

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.

Analyst Recommendations for Nordstrom (NYSE:JWN)

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