Nordstrom, Inc. (JWN) Earns “Buy” Rating from Cowen and Company

Cowen and Company restated their buy rating on shares of Nordstrom, Inc. (NYSE:JWN) in a report published on Friday. The brokerage currently has a $50.00 price objective on the specialty retailer’s stock.

A number of other equities research analysts also recently issued reports on the company. Bank of America Corporation reduced their price target on Nordstrom from $40.00 to $35.00 and set an underperform rating on the stock in a research report on Friday. J P Morgan Chase & Co reissued a sell rating and set a $33.00 price target on shares of Nordstrom in a research report on Friday. Citigroup Inc. reissued a hold rating and set a $43.00 price target on shares of Nordstrom in a research report on Friday. Robert W. Baird reduced their price target on Nordstrom from $50.00 to $43.00 and set a neutral rating on the stock in a research report on Friday. Finally, UBS AG reduced their price target on Nordstrom from $46.00 to $43.00 and set a neutral rating on the stock in a research report on Friday. Four research analysts have rated the stock with a sell rating, seventeen have given a hold rating and seven have assigned a buy rating to the company. The stock currently has an average rating of Hold and a consensus target price of $45.50.

Shares of Nordstrom (JWN) opened at $40.03 on Friday. The stock has a market capitalization of $6,654.59, a P/E ratio of 12.83, a P/E/G ratio of 2.24 and a beta of 0.84. Nordstrom has a 12-month low of $37.79 and a 12-month high of $62.82. The company has a debt-to-equity ratio of 3.48, a quick ratio of 0.40 and a current ratio of 1.01.

Nordstrom (NYSE:JWN) last issued its quarterly earnings results on Thursday, November 9th. The specialty retailer reported $0.67 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.04. The business had revenue of $3.54 billion for the quarter, compared to the consensus estimate of $3.50 billion. Nordstrom had a return on equity of 69.10% and a net margin of 3.25%. The firm’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.84 earnings per share. analysts forecast that Nordstrom will post 2.95 EPS for the current fiscal year.

WARNING: This report was originally reported by Markets Daily and is the property of of Markets Daily. If you are reading this report on another publication, it was illegally stolen and republished in violation of U.S. & international copyright legislation. The original version of this report can be read at https://www.themarketsdaily.com/2017/11/13/nordstrom-inc-jwn-earns-buy-rating-from-cowen-and-company.html.

Hedge funds have recently bought and sold shares of the company. NEXT Financial Group Inc raised its position in shares of Nordstrom by 55.4% in the 2nd quarter. NEXT Financial Group Inc now owns 2,642 shares of the specialty retailer’s stock worth $126,000 after acquiring an additional 942 shares in the last quarter. Sei Investments Co. raised its position in shares of Nordstrom by 32.0% in the 2nd quarter. Sei Investments Co. now owns 3,177 shares of the specialty retailer’s stock worth $152,000 after acquiring an additional 771 shares in the last quarter. Mosaic Family Wealth LLC raised its position in shares of Nordstrom by 8.2% in the 2nd quarter. Mosaic Family Wealth LLC now owns 3,195 shares of the specialty retailer’s stock worth $153,000 after acquiring an additional 242 shares in the last quarter. James Investment Research Inc. bought a new position in shares of Nordstrom in the 2nd quarter worth about $156,000. Finally, Exane Derivatives bought a new position in shares of Nordstrom in the 2nd quarter worth about $162,000. 63.03% of the stock is owned by hedge funds and other institutional investors.

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)

Receive News & Ratings for Nordstrom Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nordstrom Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply