Nordstrom, Inc. (NYSE:JWN) has been assigned a $44.00 target price by BMO Capital Markets in a research note issued on Monday. The brokerage presently has a “hold” rating on the specialty retailer’s stock. BMO Capital Markets’ price target indicates a potential upside of 12.36% from the company’s previous close.
Several other brokerages also recently commented on JWN. Zacks Investment Research upgraded shares of Nordstrom from a “sell” rating to a “hold” rating and set a $45.00 price target for the company in a research report on Wednesday, November 8th. Robert W. Baird reduced their price target on shares of Nordstrom from $50.00 to $43.00 and set a “neutral” rating for the company in a research report on Friday, November 10th. Cowen and Company reiterated an “outperform” rating and issued a $53.00 target price (up previously from $49.00) on shares of Nordstrom in a research report on Wednesday, September 13th. KeyCorp set a $55.00 target price on shares of Nordstrom and gave the stock a “buy” rating in a research report on Wednesday, October 11th. Finally, BidaskClub downgraded shares of Nordstrom from a “buy” rating to a “hold” rating in a research report on Saturday, August 12th. Five analysts have rated the stock with a sell rating, sixteen have given a hold rating and seven have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $45.33.
Shares of Nordstrom (NYSE:JWN) opened at $39.16 on Monday. The company has a debt-to-equity ratio of 3.14, a current ratio of 1.00 and a quick ratio of 0.30. The company has a market cap of $6,669.00, a P/E ratio of 12.83, a P/E/G 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 $61.85.
Nordstrom (NYSE:JWN) last issued its quarterly earnings results on Thursday, November 9th. The specialty retailer reported $0.67 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.04. The business had revenue of $3.54 billion during the quarter, compared to the consensus estimate of $3.50 billion. Nordstrom had a net margin of 3.25% and a return on equity of 67.44%. The firm’s quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.84 EPS. research analysts forecast that Nordstrom will post 2.95 earnings per share for the current year.
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Institutional investors have recently modified their holdings of the business. Bank of New York Mellon Corp lifted its holdings in shares of Nordstrom by 37.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 10,882,305 shares of the specialty retailer’s stock worth $520,501,000 after acquiring an additional 2,985,551 shares during the period. BlackRock Inc. lifted its holdings in shares of Nordstrom by 1.9% during the 2nd quarter. BlackRock Inc. now owns 8,171,548 shares of the specialty retailer’s stock worth $390,843,000 after acquiring an additional 150,539 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Nordstrom by 7.4% during the 3rd quarter. Principal Financial Group Inc. now owns 1,967,191 shares of the specialty retailer’s stock worth $92,752,000 after acquiring an additional 136,053 shares during the period. York Capital Management Global Advisors LLC bought a new position in shares of Nordstrom during the 2nd quarter worth about $75,623,000. Finally, APG Asset Management N.V. lifted its holdings in shares of Nordstrom by 6.8% during the 3rd quarter. APG Asset Management N.V. now owns 1,519,455 shares of the specialty retailer’s stock worth $71,642,000 after acquiring an additional 97,000 shares during the period. 62.35% of the stock is owned by hedge funds and other institutional investors.
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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