Nordstrom (JWN) Raised to Neutral at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Nordstrom (NYSE:JWN) from an underweight rating to a neutral rating in a report issued on Tuesday, January 2nd, MarketBeat Ratings reports. The firm currently has $48.00 price target on the specialty retailer’s stock, up from their previous price target of $33.00.

A number of other brokerages have also recently commented on JWN. Zacks Investment Research raised Nordstrom from a sell rating to a hold rating and set a $45.00 target price for the company in a report on Wednesday, November 8th. Robert W. Baird reduced their target price on Nordstrom from $50.00 to $43.00 and set a neutral rating for the company in a report on Friday, November 10th. Cowen reissued an outperform rating and set a $53.00 target price (up previously from $49.00) on shares of Nordstrom in a report on Wednesday, September 13th. KeyCorp set a $55.00 target price on Nordstrom and gave the company a buy rating in a report on Wednesday, October 11th. Finally, Bank of America reduced their target price on Nordstrom from $40.00 to $35.00 and set an underperform rating for the company in a report on Friday, November 10th. Three analysts have rated the stock with a sell rating, eighteen have issued a hold rating and seven have given a buy rating to the stock. Nordstrom has a consensus rating of Hold and a consensus target price of $46.24.

Nordstrom (JWN) opened at $49.20 on Tuesday. The stock has a market capitalization of $8,200.00, a P/E ratio of 17.26, a price-to-earnings-growth ratio of 2.71 and a beta of 0.89. The company has a current ratio of 1.00, a quick ratio of 0.30 and a debt-to-equity ratio of 3.14. Nordstrom has a 1 year low of $37.79 and a 1 year high of $50.32.

Nordstrom (NYSE:JWN) last issued its quarterly earnings results on Thursday, November 9th. The specialty retailer reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.04. Nordstrom had a return on equity of 67.44% and a net margin of 3.25%. The company had revenue of $3.54 billion for the quarter, compared to the consensus estimate of $3.50 billion. During the same quarter in the prior year, the business posted $0.84 earnings per share. Nordstrom’s revenue for the quarter was up 2.0% on a year-over-year basis. equities analysts forecast that Nordstrom will post 2.96 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 12th. Shareholders of record on Monday, November 27th were paid a dividend of $0.37 per share. The ex-dividend date was Friday, November 24th. This represents a $1.48 annualized dividend and a yield of 3.01%. Nordstrom’s dividend payout ratio (DPR) is 51.93%.

Hedge funds have recently bought and sold shares of the business. San Francisco Sentry Investment Group CA increased its stake in Nordstrom by 1,752.0% during the third quarter. San Francisco Sentry Investment Group CA now owns 2,315 shares of the specialty retailer’s stock worth $109,000 after acquiring an additional 2,190 shares during the last quarter. Sei Investments Co. increased its stake in Nordstrom by 32.0% during the second quarter. Sei Investments Co. now owns 3,177 shares of the specialty retailer’s stock worth $152,000 after acquiring an additional 771 shares during the last quarter. Advisory Services Network LLC increased its stake in Nordstrom by 41.8% during the second quarter. Advisory Services Network LLC now owns 3,452 shares of the specialty retailer’s stock worth $165,000 after acquiring an additional 1,018 shares during the last quarter. Thrivent Financial For Lutherans acquired a new stake in Nordstrom during the second quarter worth $202,000. Finally, Nordea Investment Management AB increased its stake in Nordstrom by 7.2% during the second quarter. Nordea Investment Management AB now owns 4,264 shares of the specialty retailer’s stock worth $204,000 after acquiring an additional 287 shares during the last quarter. 57.58% of the stock is owned by institutional investors.

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About Nordstrom

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.

Analyst Recommendations for Nordstrom (NYSE:JWN)

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