Q1 2020 EPS Estimates for Nordstrom, Inc. Raised by William Blair (JWN)

Nordstrom, Inc. (NYSE:JWN) – Equities researchers at William Blair upped their Q1 2020 EPS estimates for shares of Nordstrom in a note issued to investors on Friday, November 16th. William Blair analyst D. Carden now expects that the specialty retailer will post earnings per share of $0.54 for the quarter, up from their prior forecast of $0.53.

A number of other research firms have also recently issued reports on JWN. Goldman Sachs Group reissued a “sell” rating on shares of Nordstrom in a research note on Tuesday, September 4th. Telsey Advisory Group lifted their price target on shares of Nordstrom from $65.00 to $72.00 and gave the company an “outperform” rating in a research note on Monday, September 10th. Morgan Stanley lifted their price target on shares of Nordstrom from $47.00 to $50.00 and gave the company an “underweight” rating in a research note on Monday, September 17th. Deutsche Bank lifted their price target on shares of Nordstrom from $56.00 to $61.00 and gave the company a “buy” rating in a research note on Friday, August 17th. Finally, ValuEngine raised shares of Nordstrom from a “hold” rating to a “buy” rating in a research note on Thursday, October 11th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and six have assigned a buy rating to the company’s stock. Nordstrom presently has a consensus rating of “Hold” and a consensus price target of $57.71.

NYSE:JWN opened at $51.26 on Monday. The company has a quick ratio of 0.44, a current ratio of 1.12 and a debt-to-equity ratio of 2.23. The company has a market cap of $8.59 billion, a PE ratio of 17.32, a PEG ratio of 2.35 and a beta of 0.59. Nordstrom has a 1-year low of $40.37 and a 1-year high of $67.75.

Nordstrom (NYSE:JWN) last posted its earnings results on Thursday, November 15th. The specialty retailer reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.03. The firm had revenue of $3.75 billion during the quarter, compared to analyst estimates of $3.68 billion. Nordstrom had a net margin of 2.92% and a return on equity of 51.66%.

Nordstrom announced that its Board of Directors has initiated a stock repurchase program on Wednesday, August 22nd that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the specialty retailer to reacquire up to 14.4% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 11th. Shareholders of record on Monday, November 26th will be paid a dividend of $0.37 per share. The ex-dividend date is Friday, November 23rd. This represents a $1.48 annualized dividend and a yield of 2.89%. Nordstrom’s dividend payout ratio (DPR) is presently 50.00%.

In other Nordstrom news, insider Christine Deputy sold 11,534 shares of Nordstrom stock in a transaction on Monday, September 10th. The shares were sold at an average price of $65.87, for a total transaction of $759,744.58. Following the sale, the insider now owns 76,463 shares of the company’s stock, valued at approximately $5,036,617.81. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Robert Sari sold 53,024 shares of Nordstrom stock in a transaction on Monday, September 10th. The stock was sold at an average price of $65.72, for a total transaction of $3,484,737.28. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 200,604 shares of company stock worth $12,621,378. 7.05% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. DNB Asset Management AS boosted its stake in Nordstrom by 8.1% during the 3rd quarter. DNB Asset Management AS now owns 12,062 shares of the specialty retailer’s stock worth $721,000 after purchasing an additional 900 shares during the last quarter. Windward Capital Management Co. CA boosted its stake in Nordstrom by 2.2% during the 3rd quarter. Windward Capital Management Co. CA now owns 44,403 shares of the specialty retailer’s stock worth $2,656,000 after purchasing an additional 966 shares during the last quarter. IFM Investors Pty Ltd boosted its stake in Nordstrom by 17.5% during the 3rd quarter. IFM Investors Pty Ltd now owns 6,665 shares of the specialty retailer’s stock worth $399,000 after purchasing an additional 995 shares during the last quarter. CIBC Asset Management Inc boosted its stake in Nordstrom by 7.2% during the 2nd quarter. CIBC Asset Management Inc now owns 16,377 shares of the specialty retailer’s stock worth $848,000 after purchasing an additional 1,096 shares during the last quarter. Finally, Logan Capital Management Inc. boosted its stake in Nordstrom by 2.6% during the 3rd quarter. Logan Capital Management Inc. now owns 44,842 shares of the specialty retailer’s stock worth $2,682,000 after purchasing an additional 1,127 shares during the last quarter. 56.32% of the stock is currently owned by institutional investors.

About Nordstrom

Nordstrom, Inc, a fashion retailer, provides apparel, shoes, cosmetics, and accessories for women, men, young adults, and children in the United States and Canada. The company operates in two segments, Retail and Credit. The Retail segment offers a range of brand name and private label merchandise through various channels, including Nordstrom branded full-line stores and online store at Nordstrom.com; Nordstrom Rack stores; Nordstromrack.com and HauteLook; Trunk Club clubhouses and TrunkClub.com; Jeffrey boutiques; and clearance stores that operate under the Last Chance name.

Featured Article: Cash Flow

Earnings History and Estimates 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