Nordstrom, Inc. (JWN) Given a $45.00 Price Target by Royal Bank Of Canada Analysts
Nordstrom, Inc. (NYSE:JWN) has been assigned a $45.00 target price by analysts at Royal Bank Of Canada in a research report issued to clients and investors on Tuesday. The firm presently has a “hold” rating on the specialty retailer’s stock. Royal Bank Of Canada’s price target would suggest a potential downside of 0.13% from the stock’s previous close.
A number of other equities research analysts also recently issued reports on JWN. UBS AG restated a “buy” rating and issued a $51.00 target price on shares of Nordstrom in a report on Monday, May 15th. Piper Jaffray Companies set a $42.00 target price on shares of Nordstrom and gave the company a “hold” rating in a report on Saturday, May 13th. BMO Capital Markets set a $48.00 target price on shares of Nordstrom and gave the company a “hold” rating in a report on Saturday, May 13th. Robert W. Baird set a $50.00 target price on shares of Nordstrom and gave the company a “hold” rating in a report on Saturday, May 13th. Finally, Wolfe Research boosted their target price on shares of Nordstrom from $45.00 to $47.00 and gave the company an “outperform” rating in a report on Friday, August 11th. Four analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $48.10.
Shares of Nordstrom (NYSE:JWN) opened at 45.06 on Tuesday. Nordstrom has a 52 week low of $39.53 and a 52 week high of $62.82. The company has a market cap of $7.49 billion, a P/E ratio of 21.35 and a beta of 0.83. The firm has a 50-day moving average of $46.42 and a 200 day moving average of $45.56.
Nordstrom (NYSE:JWN) last released its earnings results on Thursday, August 10th. The specialty retailer reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.03. Nordstrom had a net margin of 2.44% and a return on equity of 71.57%. The firm had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.70 billion. During the same period in the previous year, the firm earned $0.67 earnings per share. Nordstrom’s revenue was up 3.5% compared to the same quarter last year. Equities analysts expect that Nordstrom will post $2.97 EPS for the current fiscal year.
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A number of hedge funds have recently bought and sold shares of 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 valued at $104,000 after buying an additional 236 shares in the last quarter. Gemmer Asset Management LLC boosted its stake in Nordstrom by 0.8% in the second quarter. Gemmer Asset Management LLC now owns 2,270 shares of the specialty retailer’s stock valued at $109,000 after buying an additional 18 shares in the last quarter. Advisory Services Network LLC bought a new stake in Nordstrom during the first quarter valued at about $113,000. 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 valued at $126,000 after buying an additional 942 shares in the last quarter. Finally, Ameritas Investment Partners Inc. boosted its stake in Nordstrom by 6,460.5% in the first quarter. Ameritas Investment Partners Inc. now owns 2,821 shares of the specialty retailer’s stock valued at $131,000 after buying an additional 2,778 shares in the last quarter. 63.69% of the stock is currently owned by hedge funds and other 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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