KeyCorp Weighs in on Nordstrom, Inc.’s FY2018 Earnings (JWN)

Nordstrom, Inc. (NYSE:JWN) – Research analysts at KeyCorp increased their FY2018 earnings estimates for shares of Nordstrom in a report released on Wednesday. KeyCorp analyst E. Yruma now anticipates that the specialty retailer will post earnings per share of $3.00 for the year, up from their previous forecast of $2.98. KeyCorp has a “Outperform” rating on the stock. KeyCorp also issued estimates for Nordstrom’s Q4 2018 earnings at $1.24 EPS, Q1 2019 earnings at $0.41 EPS and Q4 2019 earnings at $1.36 EPS.

Nordstrom (NYSE:JWN) last issued its earnings results on Thursday, November 9th. The specialty retailer reported $0.67 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.04. Nordstrom had a return on equity of 67.44% and a net margin of 3.25%. The business had revenue of $3.54 billion during the quarter, compared to analysts’ expectations of $3.50 billion. During the same period in the prior year, the business earned $0.84 EPS. The business’s revenue for the quarter was up 2.0% compared to the same quarter last year.

Other equities research analysts have also recently issued reports about the company. JPMorgan Chase & Co. upgraded Nordstrom from an “underweight” rating to a “neutral” rating and upped their target price for the stock from $33.00 to $48.00 in a report on Tuesday, January 2nd. Robert W. Baird lowered 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. Zacks Investment Research upgraded Nordstrom from a “hold” rating to a “buy” rating and set a $56.00 target price for the company in a report on Monday. Bank of America lowered 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. Finally, Citigroup restated a “hold” rating and set a $43.00 price objective on shares of Nordstrom in a research note on Friday, November 10th. Three investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eight have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $47.11.

Shares of Nordstrom (JWN) traded down $1.64 during mid-day trading on Monday, hitting $50.18. The company’s stock had a trading volume of 1,973,686 shares, compared to its average volume of 2,517,220. Nordstrom has a twelve month low of $37.79 and a twelve month high of $53.00. The stock has a market cap of $8,360.00, a PE ratio of 17.61, a price-to-earnings-growth ratio of 2.90 and a beta of 0.89. The company has a quick ratio of 0.30, a current ratio of 1.00 and a debt-to-equity ratio of 3.14.

A number of institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. raised its stake 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 buying an additional 150,539 shares during the last quarter. Principal Financial Group Inc. raised its stake 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 buying an additional 136,053 shares during the last quarter. York Capital Management Global Advisors LLC purchased a new stake in Nordstrom in the second quarter valued at about $75,623,000. APG Asset Management N.V. raised its stake 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 buying an additional 97,000 shares during the last quarter. Finally, Disciplined Growth Investors Inc. MN raised its stake in Nordstrom by 1,155.2% in the second quarter. Disciplined Growth Investors Inc. MN now owns 893,200 shares of the specialty retailer’s stock valued at $42,722,000 after buying an additional 822,038 shares during the last quarter. Institutional investors own 57.70% of the company’s stock.

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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.

Earnings History and Estimates for Nordstrom (NYSE:JWN)

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