Nordstrom, Inc. (JWN) Rating Reiterated by Cowen and Company
Nordstrom, Inc. (NYSE:JWN)‘s stock had its “buy” rating reaffirmed by analysts at Cowen and Company in a research report issued to clients and investors on Friday. They currently have a $49.00 target price on the specialty retailer’s stock. Cowen and Company’s price target points to a potential upside of 9.13% from the stock’s current price.
JWN has been the subject of several other reports. Citigroup Inc. lowered their price target on Nordstrom from $50.00 to $46.00 and set a “neutral” rating for the company in a report on Friday, May 12th. Gordon Haskett restated an “accumulate” rating on shares of Nordstrom in a report on Friday, June 9th. Vetr upgraded Nordstrom from a “buy” rating to a “strong-buy” rating and set a $53.07 price target for the company in a report on Tuesday, April 18th. Maxim Group set a $61.00 price target on Nordstrom and gave the stock a “buy” rating in a report on Thursday, May 4th. Finally, J P Morgan Chase & Co restated an “underweight” rating and issued a $48.00 price target on shares of Nordstrom in a report on Friday, July 14th. Five analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eight have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $47.34.
Nordstrom (JWN) traded up 0.53% during mid-day trading on Friday, hitting $45.14. 106,468 shares of the stock were exchanged. The company has a market cap of $7.50 billion, a P/E ratio of 21.38 and a beta of 0.83. Nordstrom has a one year low of $39.53 and a one year high of $62.82. The company has a 50-day moving average price of $47.32 and a 200-day moving average price of $45.51.
Nordstrom (NYSE:JWN) last announced its quarterly earnings results on Thursday, August 10th. The specialty retailer reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.03. Nordstrom had a return on equity of 71.19% and a net margin of 2.44%. The company had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.70 billion. During the same period in the prior year, the company earned $0.67 earnings per share. The company’s revenue for the quarter was up 3.5% compared to the same quarter last year. On average, analysts predict that Nordstrom will post $2.97 earnings per share for the current fiscal year.
Several hedge funds have recently added to or reduced their stakes in the stock. Parallel Advisors LLC boosted its stake in Nordstrom by 12.7% in the first quarter. Parallel Advisors LLC now owns 2,099 shares of the specialty retailer’s stock worth $104,000 after buying an additional 236 shares during the last quarter. Gemmer Asset Management LLC boosted its stake in Nordstrom by 0.8% in the first quarter. Gemmer Asset Management LLC now owns 2,252 shares of the specialty retailer’s stock worth $105,000 after buying an additional 18 shares during the last quarter. Ledyard National Bank boosted its stake in Nordstrom by 291.1% in the first quarter. Ledyard National Bank now owns 2,362 shares of the specialty retailer’s stock worth $110,000 after buying an additional 1,758 shares during the last quarter. Advisory Services Network LLC acquired a new stake in Nordstrom during the first quarter worth about $113,000. Finally, NEXT Financial Group Inc boosted its stake in Nordstrom by 55.4% in the second quarter. NEXT Financial Group Inc now owns 2,642 shares of the specialty retailer’s stock worth $126,000 after buying an additional 942 shares during the last quarter. 66.53% of the stock is owned by institutional investors.
Nordstrom Company Profile
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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