Zacks: Analysts Anticipate Nordstrom, Inc. (NYSE:JWN) Will Post Quarterly Sales of $3.60 Billion

Analysts forecast that Nordstrom, Inc. (NYSE:JWN) will report $3.60 billion in sales for the current fiscal quarter, Zacks reports. Six analysts have issued estimates for Nordstrom’s earnings, with estimates ranging from $3.39 billion to $4.02 billion. Nordstrom reported sales of $3.09 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 16.5%. The company is scheduled to announce its next earnings report on Tuesday, November 23rd.

On average, analysts expect that Nordstrom will report full year sales of $14.73 billion for the current fiscal year, with estimates ranging from $14.44 billion to $15.09 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $15.35 billion, with estimates ranging from $14.92 billion to $16.39 billion. Zacks’ sales averages are an average based on a survey of analysts that that provide coverage for Nordstrom.

Nordstrom (NYSE:JWN) last announced its earnings results on Monday, August 23rd. The specialty retailer reported $0.49 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.22. The firm had revenue of $3.66 billion for the quarter, compared to the consensus estimate of $3.33 billion. Nordstrom’s revenue for the quarter was up 96.4% on a year-over-year basis. During the same quarter last year, the business posted ($1.62) EPS.

A number of equities analysts have recently weighed in on JWN shares. Telsey Advisory Group lowered their target price on Nordstrom from $44.00 to $36.00 in a research note on Wednesday, May 26th. JPMorgan Chase & Co. downgraded Nordstrom from a “neutral” rating to an “underweight” rating and set a $34.00 price target on the stock. in a research report on Wednesday, August 25th. Deutsche Bank Aktiengesellschaft reduced their price target on Nordstrom from $40.00 to $37.00 and set a “hold” rating on the stock in a research report on Wednesday, August 25th. Morgan Stanley downgraded Nordstrom from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $36.00 to $27.00 in a research report on Wednesday, August 25th. Finally, KeyCorp reissued a “buy” rating and set a $45.00 price target on shares of Nordstrom in a research report on Wednesday, August 25th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $35.31.

Shares of NYSE JWN traded up $0.93 during trading hours on Friday, reaching $27.93. 4,916,033 shares of the stock were exchanged, compared to its average volume of 4,150,379. The firm has a market capitalization of $4.44 billion, a price-to-earnings ratio of -2,793.00, a P/E/G ratio of 3.06 and a beta of 2.40. The company has a debt-to-equity ratio of 10.63, a quick ratio of 0.33 and a current ratio of 0.90. Nordstrom has a 52 week low of $11.72 and a 52 week high of $46.45. The stock’s fifty day simple moving average is $32.23 and its 200 day simple moving average is $35.37.

In other Nordstrom news, insider Geevy Sk Thomas sold 18,572 shares of the firm’s stock in a transaction on Wednesday, August 4th. The stock was sold at an average price of $35.00, for a total value of $650,020.00. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 5.55% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in JWN. State of New Jersey Common Pension Fund D acquired a new stake in shares of Nordstrom during the 1st quarter valued at $2,602,000. CWM LLC boosted its holdings in shares of Nordstrom by 419.5% during the 1st quarter. CWM LLC now owns 1,574 shares of the specialty retailer’s stock valued at $60,000 after acquiring an additional 1,271 shares in the last quarter. Meeder Asset Management Inc. boosted its holdings in shares of Nordstrom by 162.7% during the 1st quarter. Meeder Asset Management Inc. now owns 2,267 shares of the specialty retailer’s stock valued at $86,000 after acquiring an additional 1,404 shares in the last quarter. State of Michigan Retirement System raised its position in Nordstrom by 1.8% during the 1st quarter. State of Michigan Retirement System now owns 40,300 shares of the specialty retailer’s stock worth $1,526,000 after purchasing an additional 700 shares during the last quarter. Finally, Victory Capital Management Inc. raised its position in Nordstrom by 594.9% during the 1st quarter. Victory Capital Management Inc. now owns 655,524 shares of the specialty retailer’s stock worth $24,824,000 after purchasing an additional 561,196 shares during the last quarter. 59.71% of the stock is currently owned by institutional investors.

Nordstrom Company Profile

Nordstrom, Inc engages in the manufacture and trade of clothes, shoes, and accessories. It operates through Retail; and Corporate/Other. The Retail segment comprises selection of high-quality, brand-name, and private label merchandise, which includes apparel, shoes, cosmetics, and accessories for women, men, young adults, and children.

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Earnings History and Estimates for Nordstrom (NYSE:JWN)

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