Q2 2020 EPS Estimates for Nordstrom, Inc. (JWN) Reduced by Analyst
Nordstrom, Inc. (NYSE:JWN) – Equities research analysts at KeyCorp lowered their Q2 2020 EPS estimates for Nordstrom in a report released on Tuesday, May 21st. KeyCorp analyst E. Yruma now expects that the specialty retailer will post earnings of $0.75 per share for the quarter, down from their prior forecast of $1.04. KeyCorp has a “Overweight” rating and a $52.00 price objective on the stock. KeyCorp also issued estimates for Nordstrom’s Q3 2020 earnings at $0.76 EPS, FY2020 earnings at $3.35 EPS and FY2021 earnings at $3.59 EPS.
A number of other brokerages have also commented on JWN. Robert W. Baird decreased their price target on shares of Nordstrom from $45.00 to $38.00 and set a “neutral” rating on the stock in a report on Wednesday. Wedbush reaffirmed a “neutral” rating and issued a $35.00 price objective (down previously from $40.00) on shares of Nordstrom in a research note on Wednesday. Citigroup cut their price objective on shares of Nordstrom from $48.00 to $37.00 and set a “neutral” rating for the company in a research note on Wednesday. Piper Jaffray Companies set a $44.00 price objective on shares of Nordstrom and gave the company a “hold” rating in a research note on Friday, March 1st. Finally, Zacks Investment Research cut shares of Nordstrom from a “hold” rating to a “strong sell” rating in a research note on Friday. Five analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $43.73.
Nordstrom (NYSE:JWN) last issued its quarterly earnings results on Tuesday, May 21st. The specialty retailer reported $0.23 EPS for the quarter, missing the Zacks’ consensus estimate of $0.43 by ($0.20). The company had revenue of $3.44 billion during the quarter, compared to the consensus estimate of $3.54 billion. Nordstrom had a return on equity of 52.45% and a net margin of 3.27%. During the same period in the previous year, the company earned $0.51 EPS.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Monday, June 3rd will be given a dividend of $0.37 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $1.48 annualized dividend and a yield of 4.42%. Nordstrom’s payout ratio is currently 41.69%.
In other Nordstrom news, insider Erik B. Nordstrom sold 17,762 shares of the stock in a transaction on Monday, March 11th. The shares were sold at an average price of $44.07, for a total transaction of $782,771.34. Following the completion of the sale, the insider now owns 2,653,314 shares of the company’s stock, valued at approximately $116,931,547.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Christine Deputy sold 13,124 shares of the stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $42.61, for a total transaction of $559,213.64. The disclosure for this sale can be found here. Insiders have sold a total of 49,180 shares of company stock valued at $2,164,864 in the last three months. 5.21% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Cerebellum GP LLC boosted its position in Nordstrom by 41.9% during the 1st quarter. Cerebellum GP LLC now owns 7,321 shares of the specialty retailer’s stock valued at $325,000 after buying an additional 2,161 shares during the period. Horizon Investments LLC purchased a new stake in Nordstrom during the 1st quarter valued at $203,000. BlueMountain Capital Management LLC purchased a new stake in Nordstrom during the 1st quarter valued at $3,453,000. HighTower Advisors LLC lifted its position in shares of Nordstrom by 17.3% in the 1st quarter. HighTower Advisors LLC now owns 44,219 shares of the specialty retailer’s stock worth $1,962,000 after purchasing an additional 6,528 shares during the period. Finally, SHANDA ASSET MANAGEMENT HOLDINGS Ltd purchased a new stake in shares of Nordstrom in the 1st quarter worth about $888,000. 60.17% of the stock is owned by institutional investors and hedge funds.
Nordstrom, Inc, a fashion retailer, provides apparel, shoes, cosmetics, and accessories for women, men, young adults, and children. It offers a range of brand name and private label merchandise through various channels, such as Nordstrom branded full-line stores and online store at Nordstrom.com; Nordstrom Rack stores; Nordstromrack.com and HauteLook; Jeffrey boutiques; clearance stores that operate under the Last Chance name; Trunk Club clubhouses and TrunkClub.com; and Nordstrom Locals.
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