William Blair Reiterates Market Perform Rating for Nordstrom (NYSE:JWN)

Nordstrom (NYSE:JWN)‘s stock had its “market perform” rating reaffirmed by investment analysts at William Blair in a report issued on Wednesday, Zacks.com reports. William Blair also issued estimates for Nordstrom’s Q4 2022 earnings at $1.09 EPS.

Several other analysts have also weighed in on the stock. Telsey Advisory Group lowered their target price on shares of Nordstrom from $36.00 to $27.00 and set a “market perform” rating for the company in a research note on Wednesday. Credit Suisse Group lowered their price target on shares of Nordstrom from $34.00 to $26.00 and set a “neutral” rating for the company in a research report on Wednesday. KeyCorp restated a “buy” rating and set a $45.00 price target on shares of Nordstrom in a research report on Wednesday, August 25th. Robert W. Baird lowered their price target on shares of Nordstrom from $39.00 to $30.00 and set a “neutral” rating for the company in a research report on Wednesday. Finally, Zacks Investment Research upgraded shares of Nordstrom from a “hold” rating to a “strong-buy” rating and set a $33.00 price target for the company in a research report on Friday, August 27th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $30.88.

Shares of NYSE:JWN opened at $22.66 on Wednesday. The company has a current ratio of 0.90, a quick ratio of 0.33 and a debt-to-equity ratio of 10.63. The company has a fifty day simple moving average of $29.58 and a 200 day simple moving average of $32.47. The firm has a market cap of $3.60 billion, a PE ratio of -2,266.00, a price-to-earnings-growth ratio of 3.74 and a beta of 2.37. Nordstrom has a 12-month low of $22.35 and a 12-month high of $46.45.

Nordstrom (NYSE:JWN) last issued its quarterly earnings results on Monday, November 22nd. The specialty retailer reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.17). The company had revenue of $3.64 billion for the quarter, compared to analyst estimates of $3.54 billion. The company’s revenue was up 17.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.22 EPS. As a group, equities research analysts forecast that Nordstrom will post 1.46 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of JWN. Patriot Financial Group Insurance Agency LLC lifted its stake in Nordstrom by 2,342.0% during the third quarter. Patriot Financial Group Insurance Agency LLC now owns 6,105 shares of the specialty retailer’s stock valued at $161,000 after buying an additional 5,855 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Nordstrom by 5.7% during the third quarter. Bank of New York Mellon Corp now owns 1,597,652 shares of the specialty retailer’s stock valued at $42,258,000 after buying an additional 85,938 shares in the last quarter. Captrust Financial Advisors lifted its stake in Nordstrom by 76.1% during the third quarter. Captrust Financial Advisors now owns 11,539 shares of the specialty retailer’s stock valued at $305,000 after buying an additional 4,988 shares in the last quarter. Empirical Capital Management LLC lifted its stake in Nordstrom by 50.0% during the third quarter. Empirical Capital Management LLC now owns 540,014 shares of the specialty retailer’s stock valued at $14,283,000 after buying an additional 180,000 shares in the last quarter. Finally, Cetera Advisors LLC purchased a new stake in Nordstrom during the third quarter valued at about $275,000. 59.29% of the stock is owned by institutional investors.

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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Analyst Recommendations for Nordstrom (NYSE:JWN)

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