Nordstrom (NYSE:JWN) Announces Quarterly Earnings Results, Misses Expectations By $0.17 EPS

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

NYSE JWN opened at $22.66 on Thursday. Nordstrom has a 12 month low of $22.35 and a 12 month high of $46.45. The stock has a market cap of $3.60 billion, a price-to-earnings ratio of -2,266.00, a PEG ratio of 3.74 and a beta of 2.37. The company’s 50 day moving average is $29.58 and its two-hundred day moving average is $32.47. The company has a current ratio of 0.90, a quick ratio of 0.33 and a debt-to-equity ratio of 10.63.

A hedge fund recently raised its stake in Nordstrom stock. Morgan Stanley raised its stake in shares of Nordstrom, Inc. (NYSE:JWN) by 133.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 about 1.41% of Nordstrom worth $81,836,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 59.29% of the stock is currently owned by institutional investors and hedge funds.

Several research firms have issued reports on JWN. Jefferies Financial Group cut shares of Nordstrom from a “buy” rating to a “hold” rating and lowered their target price for the company from $48.00 to $30.00 in a research note on Wednesday. Gordon Haskett cut shares of Nordstrom from a “buy” rating to a “hold” rating and lowered their target price for the company from $42.00 to $34.00 in a research note on Thursday, November 11th. JPMorgan Chase & Co. lowered their target price on shares of Nordstrom from $27.00 to $23.00 and set an “underweight” rating on the stock in a research note on Wednesday. Telsey Advisory Group lowered their price objective on shares of Nordstrom from $36.00 to $27.00 and set a “market perform” rating on the stock in a research note on Wednesday. Finally, Morgan Stanley cut shares of Nordstrom from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $36.00 to $27.00 in a research note on Wednesday, August 25th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $30.88.

About Nordstrom

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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