Nordstrom, Inc. (NYSE:JWN) was downgraded by equities researchers at Gordon Haskett from an “accumulate” rating to a “hold” rating in a research note issued to investors on Wednesday.
JWN has been the subject of a number of other reports. Cowen and Company reiterated an “outperform” rating and set a $49.00 target price on shares of Nordstrom in a research report on Friday, June 9th. Royal Bank Of Canada set a $45.00 target price on Nordstrom and gave the company a “hold” rating in a research report on Tuesday, August 29th. Northcoast Research reiterated a “neutral” rating on shares of Nordstrom in a research report on Tuesday, May 16th. ValuEngine downgraded Nordstrom from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Finally, Robert W. Baird set a $50.00 target price on Nordstrom and gave the company a “hold” rating in a research report on Saturday, August 12th. Four investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eight have issued a buy rating to the stock. Nordstrom presently has a consensus rating of “Hold” and an average target price of $48.10.
Nordstrom (JWN) opened at 45.05 on Wednesday. Nordstrom has a 1-year low of $39.53 and a 1-year high of $62.82. The stock has a market capitalization of $7.49 billion, a P/E ratio of 21.34 and a beta of 0.82. The firm’s 50 day moving average is $46.00 and its 200 day moving average is $45.61.
Nordstrom (NYSE:JWN) last posted its 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 firm had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.70 billion. Nordstrom had a return on equity of 71.57% and a net margin of 2.44%. The company’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.67 EPS. On average, equities research analysts anticipate that Nordstrom will post $2.97 earnings per share for the current year.
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Institutional investors have recently made changes to their positions in the company. Canada Pension Plan Investment Board grew its stake in Nordstrom by 20.8% in the first quarter. Canada Pension Plan Investment Board now owns 33,612 shares of the specialty retailer’s stock valued at $1,565,000 after purchasing an additional 5,780 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its holdings in Nordstrom by 3.7% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 20,732 shares of the specialty retailer’s stock worth $965,000 after acquiring an additional 748 shares in the last quarter. First Trust Advisors LP boosted its holdings in Nordstrom by 72.8% in the first quarter. First Trust Advisors LP now owns 264,500 shares of the specialty retailer’s stock worth $12,318,000 after acquiring an additional 111,458 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its holdings in Nordstrom by 76.6% in the first quarter. DekaBank Deutsche Girozentrale now owns 12,094 shares of the specialty retailer’s stock worth $579,000 after acquiring an additional 5,247 shares in the last quarter. Finally, Daiwa Securities Group Inc. boosted its holdings in Nordstrom by 18.8% in the first quarter. Daiwa Securities Group Inc. now owns 3,800 shares of the specialty retailer’s stock worth $177,000 after acquiring an additional 600 shares in the last quarter. Hedge funds and other institutional investors 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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