Nordstrom, Inc. (JWN) Expected to Announce Quarterly Sales of $4.62 Billion

Equities research analysts expect Nordstrom, Inc. (NYSE:JWN) to announce sales of $4.62 billion for the current quarter, according to Zacks. Six analysts have provided estimates for Nordstrom’s earnings. The highest sales estimate is $4.76 billion and the lowest is $4.55 billion. Nordstrom posted sales of $4.60 billion in the same quarter last year, which suggests a positive year over year growth rate of 0.4%. The business is expected to issue its next quarterly earnings results on Thursday, March 7th.

On average, analysts expect that Nordstrom will report full year sales of $15.95 billion for the current financial year, with estimates ranging from $15.65 billion to $16.13 billion. For the next financial year, analysts anticipate that the firm will report sales of $16.42 billion, with estimates ranging from $15.95 billion to $16.61 billion. Zacks’ sales averages are an average based on a survey of analysts that cover Nordstrom.

Nordstrom (NYSE:JWN) last announced its quarterly earnings data on Thursday, November 15th. The specialty retailer reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.03. Nordstrom had a net margin of 2.92% and a return on equity of 51.66%. The firm had revenue of $3.75 billion for the quarter, compared to analysts’ expectations of $3.68 billion.

A number of equities analysts have issued reports on the stock. Nomura raised their price objective on shares of Nordstrom from $54.00 to $59.00 and gave the company a “neutral” rating in a research note on Friday, August 17th. ValuEngine cut shares of Nordstrom from a “buy” rating to a “hold” rating in a research note on Friday, November 16th. Royal Bank of Canada set a $55.00 price objective on shares of Nordstrom and gave the company a “hold” rating in a research note on Friday, August 17th. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $47.00 price objective on shares of Nordstrom in a research note on Tuesday, August 7th. Finally, Deutsche Bank reduced their price objective on shares of Nordstrom from $68.00 to $64.00 and set a “buy” rating on the stock in a research note on Friday, November 16th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $57.82.

In other news, insider Blake W. Nordstrom sold 127,251 shares of Nordstrom stock in a transaction on Thursday, September 20th. The shares were sold at an average price of $61.51, for a total transaction of $7,827,209.01. Following the transaction, the insider now directly owns 2,519,436 shares of the company’s stock, valued at $154,970,508.36. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Robert Sari sold 53,024 shares of Nordstrom stock in a transaction on Monday, September 10th. The stock was sold at an average price of $65.72, for a total transaction of $3,484,737.28. The disclosure for this sale can be found here. Over the last three months, insiders have sold 200,604 shares of company stock worth $12,621,378. Insiders own 7.05% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in JWN. Bank of Montreal Can bought a new position in shares of Nordstrom during the second quarter worth $50,353,000. BlackRock Inc. boosted its position in shares of Nordstrom by 10.5% during the third quarter. BlackRock Inc. now owns 9,865,556 shares of the specialty retailer’s stock worth $590,062,000 after purchasing an additional 933,720 shares in the last quarter. United Services Automobile Association raised its holdings in shares of Nordstrom by 1,958.0% during the second quarter. United Services Automobile Association now owns 889,797 shares of the specialty retailer’s stock worth $46,074,000 after acquiring an additional 846,560 shares during the period. TIAA CREF Investment Management LLC raised its holdings in shares of Nordstrom by 92.5% during the third quarter. TIAA CREF Investment Management LLC now owns 1,358,979 shares of the specialty retailer’s stock worth $81,281,000 after acquiring an additional 653,173 shares during the period. Finally, Millennium Management LLC raised its holdings in shares of Nordstrom by 199.1% during the second quarter. Millennium Management LLC now owns 945,422 shares of the specialty retailer’s stock worth $48,954,000 after acquiring an additional 629,307 shares during the period. 56.32% of the stock is currently owned by institutional investors.

JWN stock traded down $0.42 during midday trading on Friday, reaching $51.54. The company’s stock had a trading volume of 1,711,619 shares, compared to its average volume of 3,362,622. Nordstrom has a 52 week low of $40.61 and a 52 week high of $67.75. The stock has a market cap of $8.82 billion, a PE ratio of 17.41, a PEG ratio of 2.42 and a beta of 0.59. The company has a debt-to-equity ratio of 2.23, a quick ratio of 0.44 and a current ratio of 1.12.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 11th. Stockholders of record on Monday, November 26th will be given a dividend of $0.37 per share. The ex-dividend date of this dividend is Friday, November 23rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.87%. Nordstrom’s dividend payout ratio is 50.00%.

Nordstrom declared that its Board of Directors has authorized a share repurchase program on Wednesday, August 22nd that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the specialty retailer to repurchase up to 14.4% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

Nordstrom Company Profile

Nordstrom, Inc, a fashion retailer, provides apparel, shoes, cosmetics, and accessories for women, men, young adults, and children in the United States and Canada. The company operates in two segments, Retail and Credit. The Retail segment offers a range of brand name and private label merchandise through various channels, including Nordstrom branded full-line stores and online store at Nordstrom.com; Nordstrom Rack stores; Nordstromrack.com and HauteLook; Trunk Club clubhouses and TrunkClub.com; Jeffrey boutiques; and clearance stores that operate under the Last Chance name.

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