Nordstrom (JWN) Updates FY20 Earnings Guidance

Nordstrom (NYSE:JWN) issued an update on its FY20 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $3.25-3.65 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $3.73. Nordstrom also updated its FY 2019 guidance to $3.25-3.65 EPS.

Shares of Nordstrom stock traded up $0.39 during midday trading on Tuesday, hitting $37.85. The company had a trading volume of 7,618,493 shares, compared to its average volume of 3,152,260. The company has a market cap of $5.75 billion, a price-to-earnings ratio of 10.66, a PEG ratio of 1.66 and a beta of 0.48. The company has a current ratio of 1.00, a quick ratio of 0.41 and a debt-to-equity ratio of 3.07. Nordstrom has a 1-year low of $36.37 and a 1-year high of $67.75.

Nordstrom (NYSE:JWN) last announced its quarterly earnings data on Thursday, February 28th. The specialty retailer reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.06. The business had revenue of $4.48 billion for the quarter, compared to the consensus estimate of $4.63 billion. Nordstrom had a net margin of 3.56% and a return on equity of 57.14%. During the same quarter last year, the company posted $1.20 earnings per share. As a group, research analysts forecast that Nordstrom will post 3.72 earnings per share for the current fiscal year.

JWN has been the topic of several research analyst reports. Piper Jaffray Companies set a $44.00 price objective on shares of Nordstrom and gave the stock a hold rating in a research note on Friday, March 1st. Deutsche Bank downgraded shares of Nordstrom from a buy rating to a hold rating and set a $43.30 price objective on the stock. in a research note on Friday, February 22nd. Zacks Investment Research downgraded shares of Nordstrom from a buy rating to a hold rating in a research note on Monday, May 13th. Citigroup raised their price objective on shares of Nordstrom from $45.00 to $48.00 and gave the stock a neutral rating in a research note on Friday, March 1st. Finally, Gordon Haskett downgraded shares of Nordstrom from a hold rating to an underperform rating and set a $43.00 price target on the stock. in a research note on Thursday, March 21st. Four analysts have rated the stock with a sell rating, fourteen have given a hold rating and three have issued a buy rating to the company. Nordstrom has a consensus rating of Hold and a consensus target price of $49.69.

In other Nordstrom news, insider Ken Worzel sold 17,125 shares of Nordstrom stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $45.00, for a total transaction of $770,625.00. Following the completion of the transaction, the insider now directly owns 102,588 shares of the company’s stock, valued at $4,616,460. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Erik B. Nordstrom sold 17,762 shares of Nordstrom stock in a transaction on Monday, March 11th. The shares were sold at an average price of $44.07, for a total value of $782,771.34. Following the transaction, the insider now directly owns 2,653,314 shares of the company’s stock, valued at $116,931,547.98. The disclosure for this sale can be found here. Insiders have sold 49,180 shares of company stock worth $2,164,864 in the last quarter. Corporate insiders own 5.21% of the company’s stock.

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About Nordstrom

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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Earnings History and Estimates for Nordstrom (NYSE:JWN)

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