Nordstrom, Inc. (JWN) Expected to Post Q3 2020 Earnings of $0.70 Per Share

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Nordstrom, Inc. (NYSE:JWN) – Equities research analysts at William Blair lowered their Q3 2020 earnings per share (EPS) estimates for shares of Nordstrom in a research note issued to investors on Wednesday, May 22nd. William Blair analyst D. Carden now anticipates that the specialty retailer will post earnings per share of $0.70 for the quarter, down from their prior forecast of $0.71. William Blair also issued estimates for Nordstrom’s Q4 2020 earnings at $1.74 EPS and FY2020 earnings at $3.43 EPS.

JWN has been the topic of several other research reports. Telsey Advisory Group reiterated a “market perform” rating and issued a $37.00 target price (down previously from $56.00) on shares of Nordstrom in a research note on Wednesday. KeyCorp cut their target price on Nordstrom from $55.00 to $52.00 and set an “overweight” rating on the stock in a research note on Wednesday. Wedbush lowered Nordstrom from an “outperform” rating to a “neutral” rating and cut their target price for the company from $65.00 to $40.00 in a research note on Thursday, May 9th. Bank of America cut their target price on Nordstrom from $40.00 to $32.00 and set an “underperform” rating on the stock in a research note on Wednesday. Finally, Credit Suisse Group cut their target price on Nordstrom from $40.00 to $36.00 and set a “neutral” rating on the stock in a research note on Wednesday. Four research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and three have assigned a buy rating to the stock. Nordstrom currently has a consensus rating of “Hold” and an average target price of $44.69.

JWN stock opened at $34.35 on Thursday. The company has a quick ratio of 0.41, a current ratio of 1.00 and a debt-to-equity ratio of 3.07. The stock has a market capitalization of $5.86 billion, a P/E ratio of 9.68, a PEG ratio of 1.70 and a beta of 0.48. Nordstrom has a 1-year low of $33.75 and a 1-year high of $67.75.

Nordstrom (NYSE:JWN) last released its quarterly earnings data on Tuesday, May 21st. The specialty retailer reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.20). The firm had revenue of $3.44 billion during the quarter, compared to the consensus estimate of $3.54 billion. Nordstrom had a net margin of 3.27% and a return on equity of 52.45%. During the same quarter in the previous year, the firm earned $0.51 earnings per share.

Several hedge funds have recently modified their holdings of JWN. TIAA CREF Investment Management LLC grew its stake in shares of Nordstrom by 92.5% during the third quarter. TIAA CREF Investment Management LLC now owns 1,358,979 shares of the specialty retailer’s stock worth $81,281,000 after acquiring an additional 653,173 shares during the last quarter. Vanguard Group Inc grew its stake in shares of Nordstrom by 1.5% during the third quarter. Vanguard Group Inc now owns 12,462,906 shares of the specialty retailer’s stock worth $745,406,000 after acquiring an additional 178,581 shares during the last quarter. Nisa Investment Advisors LLC grew its stake in shares of Nordstrom by 8.3% during the fourth quarter. Nisa Investment Advisors LLC now owns 49,765 shares of the specialty retailer’s stock worth $2,320,000 after acquiring an additional 3,797 shares during the last quarter. Empowered Funds LLC purchased a new stake in shares of Nordstrom during the fourth quarter worth about $1,084,000. Finally, Strs Ohio grew its stake in shares of Nordstrom by 17.6% during the fourth quarter. Strs Ohio now owns 6,839 shares of the specialty retailer’s stock worth $318,000 after acquiring an additional 1,023 shares during the last quarter. Institutional investors and hedge funds own 60.17% of the company’s stock.

In other news, insider Erik B. Nordstrom sold 17,762 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $44.07, for a total transaction of $782,771.34. Following the sale, the insider now owns 2,653,314 shares in the company, valued at $116,931,547.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Christine Deputy sold 13,124 shares of the business’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $42.61, for a total value of $559,213.64. The disclosure for this sale can be found here. Insiders have sold 49,180 shares of company stock worth $2,164,864 in the last 90 days. Insiders own 5.21% of the company’s stock.

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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Earnings History and Estimates for Nordstrom (NYSE:JWN)

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