Nordstrom, Inc. (JWN) Announces Quarterly Earnings Results, Beats Expectations By $0.04 EPS
Nordstrom, Inc. (NYSE:JWN) released its earnings results on Thursday. The specialty retailer reported $0.67 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.04, RTT News reports. The firm had revenue of $3.54 billion for the quarter, compared to analysts’ expectations of $3.50 billion. Nordstrom had a return on equity of 71.57% and a net margin of 2.44%. The business’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.84 earnings per share. Nordstrom updated its FY18 guidance to $2.85-2.95 EPS.
Nordstrom (NYSE JWN) remained flat at $$40.03 on Friday. 7,102,554 shares of the company’s stock were exchanged, compared to its average volume of 2,928,818. Nordstrom has a 52 week low of $37.79 and a 52 week high of $62.82. The stock has a market capitalization of $6,366.98, a P/E ratio of 11.64, a P/E/G ratio of 2.14 and a beta of 0.84. The company has a quick ratio of 0.40, a current ratio of 1.01 and a debt-to-equity ratio of 3.48.
A number of research analysts have recently commented on the stock. J P Morgan Chase & Co reissued an “underweight” rating and issued a $48.00 target price on shares of Nordstrom in a report on Friday, July 14th. Vetr lowered shares of Nordstrom from a “sell” rating to a “strong sell” rating and set a $41.54 price target on the stock. in a report on Monday, July 17th. Piper Jaffray Companies set a $42.00 price objective on shares of Nordstrom and gave the stock a “hold” rating in a research report on Monday, July 17th. Zacks Investment Research raised shares of Nordstrom from a “hold” rating to a “buy” rating and set a $53.00 price objective for the company in a research note on Thursday, August 10th. Finally, Credit Suisse Group restated a “buy” rating and issued a $52.00 target price on shares of Nordstrom in a research report on Thursday, August 10th. Four research analysts have rated the stock with a sell rating, seventeen have given a hold rating and seven have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $45.63.
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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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