Nordstrom (JWN) Now Covered by Analysts at Credit Suisse Group

Credit Suisse Group began coverage on shares of Nordstrom (NYSE:JWN) in a research report sent to investors on Monday. The firm issued a neutral rating and a $54.00 price target on the specialty retailer’s stock.

A number of other analysts have also weighed in on JWN. TheStreet upgraded Nordstrom from a c+ rating to a b- rating in a report on Friday, March 2nd. BMO Capital Markets upped their target price on Nordstrom from $50.00 to $55.00 and gave the stock a market perform rating in a report on Monday, March 5th. Robert W. Baird restated a neutral rating on shares of Nordstrom in a report on Friday, March 2nd. Piper Jaffray Companies set a $48.00 target price on Nordstrom and gave the stock a hold rating in a report on Thursday, March 1st. Finally, Royal Bank of Canada set a $49.00 price objective on Nordstrom and gave the company a hold rating in a report on Friday, March 2nd. Two analysts have rated the stock with a sell rating, sixteen have issued a hold rating and six have issued a buy rating to the stock. Nordstrom presently has a consensus rating of Hold and an average price target of $48.92.

How to Become a New Pot Stock Millionaire

Shares of Nordstrom (NYSE:JWN) opened at $49.85 on Monday. The company has a current ratio of 1.07, a quick ratio of 0.45 and a debt-to-equity ratio of 2.74. The firm has a market capitalization of $8,348.33, a price-to-earnings ratio of 16.95, a price-to-earnings-growth ratio of 2.44 and a beta of 0.81. Nordstrom has a twelve month low of $37.79 and a twelve month high of $54.00.

Nordstrom (NYSE:JWN) last posted its earnings results on Thursday, March 1st. The specialty retailer reported $1.20 earnings per share for the quarter, missing analysts’ consensus estimates of $1.24 by ($0.04). The company had revenue of $4.60 billion for the quarter, compared to analysts’ expectations of $4.57 billion. Nordstrom had a return on equity of 60.72% and a net margin of 2.86%. The firm’s quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.27 EPS. equities analysts forecast that Nordstrom will post 3.42 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 20th. Investors of record on Monday, March 5th will be given a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 2.97%. The ex-dividend date of this dividend is Friday, March 2nd. Nordstrom’s payout ratio is 57.36%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp increased its position in shares of Nordstrom by 11.8% in the 4th quarter. Bank of New York Mellon Corp now owns 10,245,078 shares of the specialty retailer’s stock valued at $485,413,000 after acquiring an additional 1,078,880 shares during the period. BlackRock Inc. increased its position in shares of Nordstrom by 3.4% in the 4th quarter. BlackRock Inc. now owns 8,343,411 shares of the specialty retailer’s stock valued at $395,312,000 after acquiring an additional 275,344 shares during the period. Disciplined Growth Investors Inc. MN increased its position in shares of Nordstrom by 60.6% in the 4th quarter. Disciplined Growth Investors Inc. MN now owns 1,428,767 shares of the specialty retailer’s stock valued at $67,695,000 after acquiring an additional 539,040 shares during the period. Geode Capital Management LLC increased its position in shares of Nordstrom by 4.1% in the 4th quarter. Geode Capital Management LLC now owns 1,402,334 shares of the specialty retailer’s stock valued at $66,320,000 after acquiring an additional 55,820 shares during the period. Finally, Ariel Investments LLC increased its position in shares of Nordstrom by 9.2% in the 4th quarter. Ariel Investments LLC now owns 1,303,102 shares of the specialty retailer’s stock valued at $61,741,000 after acquiring an additional 109,753 shares during the period. 59.01% of the stock is currently owned by hedge funds and other institutional investors.

WARNING: This story was first posted by Markets Daily and is the property of of Markets Daily. If you are accessing this story on another publication, it was copied illegally and reposted in violation of international copyright laws. The legal version of this story can be viewed at https://www.themarketsdaily.com/2018/03/13/nordstrom-jwn-now-covered-by-analysts-at-credit-suisse-group.html.

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.

Analyst Recommendations for Nordstrom (NYSE:JWN)

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

Leave a Reply