Nordstrom, Inc. (JWN) Rating Reiterated by KeyCorp

KeyCorp reiterated their outperform rating on shares of Nordstrom, Inc. (NYSE:JWN) in a research note published on Friday. KeyCorp also issued estimates for Nordstrom’s Q4 2018 earnings at $1.23 EPS, Q1 2019 earnings at $0.40 EPS, Q3 2019 earnings at $0.71 EPS, Q4 2019 earnings at $1.35 EPS and FY2019 earnings at $3.15 EPS.

Several other research firms have also recently issued reports on JWN. Piper Jaffray Companies set a $42.00 price target on shares of Nordstrom and gave the stock a hold rating in a research note on Tuesday, July 25th. J P Morgan Chase & Co reaffirmed an underweight rating and set a $48.00 price target on shares of Nordstrom in a research note on Friday, July 14th. Credit Suisse Group reaffirmed a buy rating and set a $52.00 price target on shares of Nordstrom in a research note on Thursday, August 10th. Zacks Investment Research raised shares of Nordstrom from a hold rating to a buy rating and set a $53.00 price target on the stock in a research note on Thursday, August 10th. Finally, Vetr cut shares of Nordstrom from a sell rating to a strong sell rating and set a $41.54 price target on the stock. in a research note on Monday, July 17th. Four research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and seven have given a buy rating to the stock. The company presently has a consensus rating of Hold and an average target price of $45.33.

Shares of Nordstrom (JWN) traded down $1.31 during midday trading on Friday, reaching $38.72. 2,871,800 shares of the company were exchanged, compared to its average volume of 2,928,584. The firm has a market cap of $6,669.00, a PE ratio of 12.83, a price-to-earnings-growth ratio of 2.26 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 3.14, a quick ratio of 0.30 and a current ratio of 1.00.

Nordstrom (NYSE:JWN) last released its quarterly earnings results on Thursday, November 9th. The specialty retailer reported $0.67 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.04. Nordstrom had a net margin of 3.25% and a return on equity of 67.44%. The company had revenue of $3.54 billion for the quarter, compared to analysts’ expectations of $3.50 billion. During the same period last year, the company earned $0.84 EPS. The firm’s revenue for the quarter was up 2.0% compared to the same quarter last year. analysts predict that Nordstrom will post 2.95 earnings per share for the current year.

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Large investors have recently added to or reduced their stakes in the business. Flippin Bruce & Porter Inc. grew its stake in Nordstrom by 46.2% during the 2nd quarter. Flippin Bruce & Porter Inc. now owns 112,227 shares of the specialty retailer’s stock valued at $5,368,000 after acquiring an additional 35,467 shares in the last quarter. Twin Capital Management Inc. grew its stake in Nordstrom by 17.4% during the 2nd quarter. Twin Capital Management Inc. now owns 31,360 shares of the specialty retailer’s stock valued at $1,500,000 after acquiring an additional 4,650 shares in the last quarter. Thrivent Financial For Lutherans purchased a new position in Nordstrom during the 2nd quarter valued at about $202,000. Principal Financial Group Inc. grew its stake in Nordstrom by 168.7% during the 2nd quarter. Principal Financial Group Inc. now owns 1,831,138 shares of the specialty retailer’s stock valued at $87,584,000 after acquiring an additional 1,149,685 shares in the last quarter. Finally, Stonebridge Capital Advisors LLC grew its stake in Nordstrom by 5.0% during the 2nd quarter. Stonebridge Capital Advisors LLC now owns 71,988 shares of the specialty retailer’s stock valued at $3,443,000 after acquiring an additional 3,428 shares in the last quarter. 62.35% of the stock is currently owned by institutional investors.

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)

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