Credit Suisse Group started coverage on shares of Nordstrom (NYSE:JWN) in a research report sent to investors on Monday, March 12th, MarketBeat reports. The brokerage issued a neutral rating and a $54.00 price objective on the specialty retailer’s stock.
Other equities research analysts also recently issued research reports about the stock. BMO Capital Markets lifted their target price on shares of Nordstrom from $50.00 to $55.00 and gave the stock a market perform rating in a research report on Monday, March 5th. Robert W. Baird set a $53.00 price target on shares of Nordstrom and gave the stock a hold rating in a research note on Thursday, March 1st. JPMorgan Chase & Co. upgraded shares of Nordstrom from an underweight rating to a neutral rating and lifted their price target for the stock from $33.00 to $48.00 in a research note on Tuesday, January 2nd. Piper Jaffray Companies set a $45.00 price target on shares of Nordstrom and gave the stock a hold rating in a research note on Wednesday, January 10th. Finally, TheStreet upgraded shares of Nordstrom from a c+ rating to a b- rating in a research note on Friday, March 2nd. Two investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and six have assigned a buy rating to the company. Nordstrom currently has a consensus rating of Hold and a consensus price target of $48.92.
Shares of JWN stock traded down $0.39 on Monday, hitting $48.97. 99,443 shares of the company traded hands, compared to its average volume of 2,064,980. The company has a market capitalization of $8,236.44, a P/E ratio of 19.13, a P/E/G ratio of 2.40 and a beta of 0.81. The company has a quick ratio of 0.45, a current ratio of 1.07 and a debt-to-equity ratio of 2.74. Nordstrom has a 12 month low of $37.79 and a 12 month high of $54.00.
Nordstrom (NYSE:JWN) last posted its earnings results on Thursday, March 1st. The specialty retailer reported $1.20 EPS for the quarter, missing analysts’ consensus estimates of $1.24 by ($0.04). Nordstrom had a return on equity of 60.72% and a net margin of 2.86%. The company had revenue of $4.60 billion during the quarter, compared to the consensus estimate of $4.57 billion. During the same period last year, the firm posted $1.27 EPS. The company’s revenue for the quarter was up 8.4% on a year-over-year basis. equities analysts predict that Nordstrom will post 3.42 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 20th. Stockholders of record on Monday, March 5th will be issued a $0.37 dividend. The ex-dividend date is Friday, March 2nd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.02%. Nordstrom’s dividend payout ratio (DPR) is presently 57.36%.
Institutional investors have recently bought and sold shares of the company. San Francisco Sentry Investment Group CA grew its holdings in Nordstrom by 1,752.0% during the 3rd quarter. San Francisco Sentry Investment Group CA now owns 2,315 shares of the specialty retailer’s stock valued at $109,000 after purchasing an additional 2,190 shares during the last quarter. Harvest Fund Management Co. Ltd purchased a new stake in Nordstrom in the 4th quarter valued at about $115,000. Cerebellum GP LLC purchased a new stake in Nordstrom in the 4th quarter valued at about $131,000. Calton & Associates Inc. purchased a new stake in Nordstrom in the 4th quarter valued at about $153,000. Finally, Tiedemann Wealth Management LLC boosted its position in Nordstrom by 15.4% in the 3rd quarter. Tiedemann Wealth Management LLC now owns 10,600 shares of the specialty retailer’s stock valued at $219,000 after buying an additional 1,418 shares during the period. Hedge funds and other institutional investors own 58.75% of the company’s stock.
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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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