Nordstrom, Inc. (JWN) Price Target Cut to $43.00
Nordstrom, Inc. (NYSE:JWN) had its target price decreased by UBS AG from $46.00 to $43.00 in a report published on Friday morning, www.benzinga.com reports. UBS AG currently has a neutral rating on the specialty retailer’s stock.
A number of other research analysts have also recently commented on JWN. J P Morgan Chase & Co restated an underweight rating and set a $48.00 price target on shares of Nordstrom in a research note on Friday, July 14th. Vetr cut shares of Nordstrom from a sell rating to a strong sell rating and set a $41.54 price target for the company. in a research note on Monday, July 17th. Piper Jaffray Companies set a $42.00 price target on shares of Nordstrom and gave the stock a hold rating in a research note on Monday, July 17th. Zacks Investment Research upgraded shares of Nordstrom from a hold rating to a buy rating and set a $53.00 price target for the company in a research note on Thursday, August 10th. Finally, Credit Suisse Group restated a buy rating and set a $52.00 price target on shares of Nordstrom in a research note on Thursday, August 10th. Four equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and seven have given a buy rating to the company. The stock currently has an average rating of Hold and a consensus price target of $45.33.
Shares of Nordstrom (JWN) traded down $1.31 on Friday, reaching $38.72. 2,871,800 shares of the company’s stock were exchanged, compared to its average volume of 2,928,584. The company has a market capitalization of $6,669.00, a PE ratio of 12.83, a price-to-earnings-growth ratio of 2.26 and a beta of 0.84. The company has a current ratio of 1.00, a quick ratio of 0.30 and a debt-to-equity ratio of 3.14. Nordstrom has a 1 year low of $37.79 and a 1 year high of $62.82.
Nordstrom (NYSE:JWN) last announced its quarterly earnings results on Thursday, November 9th. The specialty retailer reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.04. The firm had revenue of $3.54 billion during the quarter, compared to analysts’ expectations of $3.50 billion. Nordstrom had a net margin of 3.25% and a return on equity of 67.44%. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.84 earnings per share. analysts expect that Nordstrom will post 2.95 earnings per share for the current fiscal year.
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A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp grew its holdings in 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. grew its holdings in 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. grew its holdings in 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 acquired a new stake in Nordstrom during the 2nd quarter worth $75,623,000. Finally, APG Asset Management N.V. grew its holdings in 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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