Nordstrom, Inc. (NYSE:JWN) – Research analysts at KeyCorp dropped their Q2 2020 EPS estimates for Nordstrom in a research report issued on Tuesday, May 21st. KeyCorp analyst E. Yruma now forecasts that the specialty retailer will post earnings per share of $0.75 for the quarter, down from their prior forecast of $1.04. KeyCorp currently has a “Overweight” rating and a $52.00 target price on the stock. KeyCorp also issued estimates for Nordstrom’s Q3 2020 earnings at $0.76 EPS, FY2020 earnings at $3.35 EPS and FY2021 earnings at $3.59 EPS.
Several other research firms have also weighed in on JWN. Robert W. Baird reduced their target price on shares of Nordstrom from $45.00 to $38.00 and set a “neutral” rating on the stock in a report on Wednesday. Wedbush restated a “neutral” rating and set a $35.00 target price (down previously from $40.00) on shares of Nordstrom in a report on Wednesday. Citigroup reduced their target price on shares of Nordstrom from $48.00 to $37.00 and set a “neutral” rating on the stock in a report on Wednesday. Piper Jaffray Companies set a $44.00 target price on shares of Nordstrom and gave the company a “hold” rating in a report on Friday, March 1st. Finally, Deutsche Bank lowered shares of Nordstrom from a “buy” rating to a “hold” rating and set a $43.30 target price on the stock. in a report on Friday, February 22nd. Four research analysts have rated the stock with a sell rating, sixteen have given a hold rating and three have assigned a buy rating to the company. Nordstrom presently has an average rating of “Hold” and an average price target of $43.73.
Nordstrom (NYSE:JWN) last announced its quarterly earnings results on Tuesday, May 21st. The specialty retailer reported $0.23 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.43 by ($0.20). The company had revenue of $3.44 billion during the quarter, compared to analyst estimates of $3.54 billion. Nordstrom had a net margin of 3.27% and a return on equity of 52.45%. During the same quarter last year, the business earned $0.51 EPS.
A number of hedge funds have recently modified their holdings of JWN. Vanguard Group Inc increased its position in shares of Nordstrom by 1.5% in the 3rd quarter. Vanguard Group Inc now owns 12,462,906 shares of the specialty retailer’s stock worth $745,406,000 after purchasing an additional 178,581 shares during the last quarter. BlackRock Inc. increased its position in shares of Nordstrom by 6.4% in the 4th quarter. BlackRock Inc. now owns 10,496,455 shares of the specialty retailer’s stock worth $489,241,000 after purchasing an additional 630,899 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Nordstrom by 23.0% in the 1st quarter. JPMorgan Chase & Co. now owns 7,339,382 shares of the specialty retailer’s stock worth $325,721,000 after purchasing an additional 1,374,779 shares during the last quarter. Boston Partners increased its position in shares of Nordstrom by 57.5% in the 4th quarter. Boston Partners now owns 6,346,355 shares of the specialty retailer’s stock worth $295,804,000 after purchasing an additional 2,318,179 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund increased its position in shares of Nordstrom by 4,156.2% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,898,862 shares of the specialty retailer’s stock worth $62,000 after purchasing an additional 2,830,753 shares during the last quarter. Hedge funds and other institutional investors own 60.17% of the company’s stock.
In other Nordstrom news, insider Erik B. Nordstrom sold 17,762 shares of the business’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $44.07, for a total value of $782,771.34. Following the transaction, the insider now owns 2,653,314 shares in the company, valued at approximately $116,931,547.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ken Worzel sold 17,125 shares of the business’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $45.00, for a total transaction of $770,625.00. Following the completion of the transaction, the insider now owns 102,588 shares in the company, valued at approximately $4,616,460. The disclosure for this sale can be found here. Insiders sold a total of 49,180 shares of company stock worth $2,164,864 in the last quarter. 5.21% of the stock is currently owned by company insiders.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Monday, June 3rd will be issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 4.38%. Nordstrom’s dividend payout ratio is currently 41.69%.
Nordstrom Company Profile
Nordstrom, Inc, a fashion retailer, provides apparel, shoes, cosmetics, and accessories for women, men, young adults, and children. It offers a range of brand name and private label merchandise through various channels, such as Nordstrom branded full-line stores and online store at Nordstrom.com; Nordstrom Rack stores; Nordstromrack.com and HauteLook; Jeffrey boutiques; clearance stores that operate under the Last Chance name; Trunk Club clubhouses and TrunkClub.com; and Nordstrom Locals.
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