Wall Street brokerages predict that Nordstrom, Inc. (NYSE:JWN) will report sales of $3.73 billion for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for Nordstrom’s earnings. The lowest sales estimate is $3.70 billion and the highest is $3.75 billion. Nordstrom posted sales of $3.65 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 2.2%. The business is scheduled to issue its next earnings results after the market closes on Thursday, August 10th.
On average, analysts expect that Nordstrom will report full-year sales of $3.73 billion for the current year, with estimates ranging from $15.03 billion to $15.31 billion. For the next fiscal year, analysts expect that the business will post sales of $15.49 billion per share, with estimates ranging from $15.34 billion to $15.78 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Nordstrom.
A number of equities analysts recently commented on the company. Piper Jaffray Companies set a $42.00 price target on Nordstrom and gave the stock a “hold” rating in a research note on Tuesday, July 25th. Vetr downgraded Nordstrom from a “sell” rating to a “strong sell” rating and set a $41.54 target price for the company. in a research note on Monday, July 17th. J P Morgan Chase & Co restated an “underweight” rating and issued a $48.00 target price on shares of Nordstrom in a research note on Friday, July 14th. Royal Bank Of Canada set a $45.00 target price on Nordstrom and gave the company a “hold” rating in a research note on Monday, June 19th. Finally, Credit Suisse Group restated a “neutral” rating and issued a $52.00 target price on shares of Nordstrom in a research note on Monday, June 12th. Five research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and five have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $47.23.
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Shares of Nordstrom (NYSE JWN) opened at 46.88 on Thursday. Nordstrom has a 12 month low of $39.53 and a 12 month high of $62.82. The firm has a market capitalization of $7.78 billion, a PE ratio of 21.95 and a beta of 0.83. The company has a 50 day moving average price of $47.43 and a 200-day moving average price of $45.44.
Large investors have recently modified their holdings of the company. LSV Asset Management acquired a new stake in shares of Nordstrom during the second quarter worth about $559,000. Synovus Financial Corp boosted its stake in shares of Nordstrom by 1.7% in the second quarter. Synovus Financial Corp now owns 8,760 shares of the specialty retailer’s stock worth $423,000 after buying an additional 143 shares in the last quarter. State of Tennessee Treasury Department boosted its stake in shares of Nordstrom by 173.6% in the second quarter. State of Tennessee Treasury Department now owns 276,712 shares of the specialty retailer’s stock worth $13,235,000 after buying an additional 175,590 shares in the last quarter. Oppenheimer & Co. Inc. boosted its stake in shares of Nordstrom by 17.8% in the second quarter. Oppenheimer & Co. Inc. now owns 33,687 shares of the specialty retailer’s stock worth $1,611,000 after buying an additional 5,093 shares in the last quarter. Finally, Delta Lloyd Asset Management N.V. acquired a new stake in shares of Nordstrom during the second quarter worth about $901,000. Hedge funds and other institutional investors own 64.36% 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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