J P Morgan Chase & Co Reaffirms Sell Rating for Nordstrom, Inc. (JWN)
J P Morgan Chase & Co reiterated their sell rating on shares of Nordstrom, Inc. (NYSE:JWN) in a research note issued to investors on Friday. The firm currently has a $33.00 price target on the specialty retailer’s stock.
Other equities analysts also recently issued research reports about the company. Robert W. Baird decreased their target price on Nordstrom from $50.00 to $43.00 and set a neutral rating for the company in a report on Friday. KeyCorp restated an outperform rating on shares of Nordstrom in a report on Friday. Citigroup Inc. restated a hold rating and set a $43.00 target price on shares of Nordstrom in a report on Friday. Wolfe Research increased their price objective on Nordstrom from $45.00 to $47.00 and gave the stock an outperform rating in a report on Friday, August 11th. Finally, Zacks Investment Research upgraded Nordstrom from a hold rating to a buy rating and set a $53.00 price objective for the company in a report on Thursday, August 10th. Four 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’s stock. The stock currently has an average rating of Hold and a consensus price target of $45.33.
Shares of Nordstrom (JWN) remained flat at $$40.03 during trading on Friday. 7,114,800 shares of the company traded hands, compared to its average volume of 2,928,846. The company has a quick ratio of 0.30, a current ratio of 1.00 and a debt-to-equity ratio of 3.14. The company has a market cap of $6,650.00, a P/E ratio of 12.83, a P/E/G ratio of 2.26 and a beta of 0.84. Nordstrom has a 1-year low of $37.79 and a 1-year high of $62.82.
Nordstrom (NYSE:JWN) last announced its earnings results on Thursday, November 9th. The specialty retailer reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.04. The company had revenue of $3.54 billion during the quarter, compared to the consensus estimate of $3.50 billion. Nordstrom had a return on equity of 67.44% and a net margin of 3.25%. The firm’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.84 earnings per share. sell-side analysts anticipate that Nordstrom will post 2.95 EPS for the current fiscal year.
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Institutional investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp lifted its holdings in Nordstrom by 37.8% in the second quarter. Bank of New York Mellon Corp now owns 10,882,305 shares of the specialty retailer’s stock valued at $520,501,000 after acquiring an additional 2,985,551 shares during the period. BlackRock Inc. lifted its holdings in Nordstrom by 1.9% in the second quarter. BlackRock Inc. now owns 8,171,548 shares of the specialty retailer’s stock valued at $390,843,000 after acquiring an additional 150,539 shares during the period. Principal Financial Group Inc. lifted its holdings in Nordstrom by 7.4% in the third quarter. Principal Financial Group Inc. now owns 1,967,191 shares of the specialty retailer’s stock valued at $92,752,000 after acquiring an additional 136,053 shares during the period. York Capital Management Global Advisors LLC bought a new position in Nordstrom in the second quarter valued at about $75,623,000. Finally, APG Asset Management N.V. lifted its holdings in Nordstrom by 6.8% in the third quarter. APG Asset Management N.V. now owns 1,519,455 shares of the specialty retailer’s stock valued at $71,642,000 after acquiring an additional 97,000 shares during the period. 62.35% of the stock is currently owned by 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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