Nordstrom, Inc. (NYSE:JWN) Expected to Announce Quarterly Sales of $3.64 Billion

Brokerages expect Nordstrom, Inc. (NYSE:JWN) to report sales of $3.64 billion for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for Nordstrom’s earnings. The lowest sales estimate is $3.57 billion and the highest is $3.67 billion. Nordstrom posted sales of $3.75 billion during the same quarter last year, which would indicate a negative year over year growth rate of 2.9%. The business is scheduled to issue its next earnings report on Thursday, November 21st.

According to Zacks, analysts expect that Nordstrom will report full-year sales of $15.36 billion for the current financial year, with estimates ranging from $15.17 billion to $15.57 billion. For the next year, analysts anticipate that the firm will report sales of $15.53 billion, with estimates ranging from $15.27 billion to $16.07 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Nordstrom.

Nordstrom (NYSE:JWN) last posted its earnings results on Wednesday, August 21st. The specialty retailer reported $0.90 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.76 by $0.14. Nordstrom had a net margin of 3.17% and a return on equity of 62.11%. The company had revenue of $3.87 billion during the quarter, compared to the consensus estimate of $3.92 billion. During the same period in the previous year, the firm posted $0.95 earnings per share. The company’s revenue for the quarter was down 4.8% compared to the same quarter last year.



JWN has been the topic of several recent research reports. Zacks Investment Research cut Nordstrom from a “hold” rating to a “strong sell” rating in a report on Friday, May 24th. Morgan Stanley dropped their target price on shares of Nordstrom from $40.00 to $33.00 and set an “equal weight” rating for the company in a report on Friday, August 23rd. Bank of America reaffirmed an “underperform” rating and issued a $29.00 target price (down from $32.00) on shares of Nordstrom in a report on Thursday, August 22nd. Goldman Sachs Group cut shares of Nordstrom from a “neutral” rating to a “sell” rating and dropped their target price for the company from $37.00 to $30.00 in a report on Thursday, June 27th. Finally, Credit Suisse Group dropped their target price on shares of Nordstrom from $40.00 to $36.00 and set a “neutral” rating for the company in a report on Wednesday, May 22nd. Five investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and one has issued a buy rating to the company. Nordstrom currently has an average rating of “Hold” and an average target price of $38.19.

Shares of Nordstrom stock traded up $0.75 on Wednesday, hitting $35.55. 322,674 shares of the company were exchanged, compared to its average volume of 7,046,583. The stock has a market capitalization of $5.36 billion, a price-to-earnings ratio of 10.02, a price-to-earnings-growth ratio of 1.73 and a beta of 0.70. The company has a 50-day moving average price of $29.49 and a 200 day moving average price of $35.99. Nordstrom has a 1-year low of $25.01 and a 1-year high of $67.75. The company has a quick ratio of 0.35, a current ratio of 0.79 and a debt-to-equity ratio of 5.39.

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 30th will be given a $0.37 dividend. The ex-dividend date is Thursday, August 29th. This represents a $1.48 annualized dividend and a dividend yield of 4.16%. Nordstrom’s dividend payout ratio is presently 41.69%.

In other news, insider Christine Deputy sold 1,906 shares of the stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $28.53, for a total value of $54,378.18. Following the sale, the insider now directly owns 56,913 shares in the company, valued at $1,623,727.89. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.21% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in JWN. Capital Investment Advisory Services LLC acquired a new position in Nordstrom during the 2nd quarter valued at about $29,000. Edge Wealth Management LLC boosted its position in shares of Nordstrom by 100.0% in the 2nd quarter. Edge Wealth Management LLC now owns 1,000 shares of the specialty retailer’s stock worth $32,000 after purchasing an additional 500 shares in the last quarter. Resources Investment Advisors LLC. acquired a new stake in shares of Nordstrom in the 2nd quarter worth $35,000. Zions Bancorporation N.A. acquired a new stake in shares of Nordstrom in the 1st quarter worth $41,000. Finally, Steward Partners Investment Advisory LLC acquired a new stake in shares of Nordstrom in the 2nd quarter worth $47,000. Hedge funds and other institutional investors own 64.25% 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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