Nordstrom (NYSE:JWN) Announces Quarterly Earnings Results, Misses Expectations By $0.17 EPS

Nordstrom (NYSE:JWN) released its quarterly earnings results on Monday. The specialty retailer reported $0.39 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.17), MarketWatch Earnings reports. The company had revenue of $3.64 billion for the quarter, compared to analysts’ expectations of $3.54 billion. During the same period last year, the business posted $0.22 EPS. Nordstrom’s revenue was up 17.7% compared to the same quarter last year.

JWN opened at $31.93 on Wednesday. The company’s 50 day simple moving average is $29.66 and its 200 day simple moving average is $32.59. 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 1 year low of $23.75 and a 1 year high of $46.45. The stock has a market capitalization of $5.07 billion, a PE ratio of -3,193.00, a P/E/G ratio of 3.74 and a beta of 2.37.

An institutional investor recently raised its position in Nordstrom stock. Morgan Stanley increased its stake in Nordstrom, Inc. (NYSE:JWN) by 133.7% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,237,756 shares of the specialty retailer’s stock after acquiring an additional 1,280,070 shares during the period. Morgan Stanley owned approximately 1.41% of Nordstrom worth $81,836,000 as of its most recent SEC filing. Institutional investors own 59.29% of the company’s stock.

Several research firms recently commented on JWN. Telsey Advisory Group reduced their price target on shares of Nordstrom from $36.00 to $27.00 and set a “market perform” rating for the company in a research report on Wednesday. Zacks Investment Research upgraded shares of Nordstrom from a “hold” rating to a “strong-buy” rating and set a $33.00 price target for the company in a report on Friday, August 27th. JPMorgan Chase & Co. downgraded shares of Nordstrom from a “neutral” rating to an “underweight” rating and set a $34.00 price target for the company. in a report on Wednesday, August 25th. Robert W. Baird cut their price target on shares of Nordstrom from $39.00 to $30.00 and set a “neutral” rating for the company in a report on Wednesday. Finally, KeyCorp reissued a “buy” rating and issued a $45.00 price objective on shares of Nordstrom in a research note on Wednesday, August 25th. Three analysts have rated the stock with a sell rating, eight have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Nordstrom has an average rating of “Hold” and an average target price of $31.33.

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.

Further Reading: Equity Income

Earnings History for Nordstrom (NYSE:JWN)

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