Nordstrom (NYSE:JWN) Announces Earnings Results

Nordstrom (NYSE:JWN) released its earnings results on Tuesday. The specialty retailer reported $0.39 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.56 by ($0.17), MarketWatch Earnings reports. The company had revenue of $3.64 billion for the quarter, compared to analysts’ expectations of $3.54 billion. During the same quarter last year, the firm earned $0.22 EPS. The business’s revenue for the quarter was up 17.7% on a year-over-year basis. Nordstrom updated its FY 2021 guidance to EPS.

NYSE:JWN traded down $9.27 during trading hours on Thursday, hitting $22.66. The company’s stock had a trading volume of 46,286,179 shares, compared to its average volume of 4,321,178. Nordstrom has a 52-week low of $22.35 and a 52-week high of $46.45. The company has a market capitalization of $3.60 billion, a PE ratio of -2,266.00, a PEG ratio of 3.74 and a beta of 2.37. The business’s 50-day moving average is $29.58 and its two-hundred day moving average is $32.47. The company has a debt-to-equity ratio of 10.63, a quick ratio of 0.33 and a current ratio of 0.90.

A number of analysts recently weighed in on JWN shares. TheStreet upgraded shares of Nordstrom from a “d+” rating to a “c” rating in a research note on Tuesday, August 24th. Robert W. Baird cut their target price on shares of Nordstrom from $39.00 to $30.00 and set a “neutral” rating on the stock in a research note on Wednesday. Jefferies Financial Group downgraded Nordstrom from a “buy” rating to a “hold” rating and lowered their price target for the company from $48.00 to $30.00 in a report on Wednesday. JPMorgan Chase & Co. lowered their price target on Nordstrom from $27.00 to $23.00 and set an “underweight” rating for the company in a report on Wednesday. Finally, Telsey Advisory Group lowered their price target on Nordstrom from $36.00 to $27.00 and set a “market perform” rating for the company in a report on Wednesday. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $30.88.

An institutional investor recently raised its position in Nordstrom stock. Morgan Stanley grew its position in Nordstrom, Inc. (NYSE:JWN) by 133.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,237,756 shares of the specialty retailer’s stock after buying an additional 1,280,070 shares during the quarter. Morgan Stanley owned 1.41% of Nordstrom worth $81,836,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 59.29% of the company’s stock.

Nordstrom Company Profile

Nordstrom, Inc engages in the manufacture and trade of clothes, shoes, and accessories. It operates through Retail; and Corporate/Other. The Retail segment comprises selection of high-quality, brand-name, and private label merchandise, which includes apparel, shoes, cosmetics, and accessories for women, men, young adults, and children.

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Earnings History for Nordstrom (NYSE:JWN)

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