Nordstrom, Inc. (JWN) Expected to Announce Quarterly Sales of $4.61 Billion

Brokerages forecast that Nordstrom, Inc. (NYSE:JWN) will post $4.61 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for Nordstrom’s earnings, with the highest sales estimate coming in at $4.67 billion and the lowest estimate coming in at $4.57 billion. Nordstrom reported sales of $4.32 billion in the same quarter last year, which would suggest a positive year over year growth rate of 6.7%. The company is scheduled to report its next earnings results after the market closes on Thursday, March 1st.

According to Zacks, analysts expect that Nordstrom will report full-year sales of $4.61 billion for the current financial year, with estimates ranging from $15.38 billion to $15.45 billion. For the next fiscal year, analysts forecast that the business will report sales of $15.65 billion per share, with estimates ranging from $15.50 billion to $15.78 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Nordstrom.

Nordstrom (NYSE:JWN) last released its earnings results on Thursday, November 9th. The specialty retailer reported $0.67 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.04. The company had revenue of $3.54 billion for the quarter, compared to analyst estimates of $3.50 billion. Nordstrom had a net margin of 3.25% and a return on equity of 67.44%. The firm’s quarterly revenue was up 2.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.84 EPS.

A number of brokerages have commented on JWN. UBS Group dropped their price objective on shares of Nordstrom from $46.00 to $43.00 and set a “neutral” rating on the stock in a research report on Friday, November 10th. BMO Capital Markets set a $50.00 price objective on shares of Nordstrom and gave the company a “hold” rating in a research report on Friday, January 12th. Piper Jaffray Companies set a $45.00 price objective on shares of Nordstrom and gave the company a “hold” rating in a research report on Wednesday, January 10th. Robert W. Baird reissued a “hold” rating and issued a $50.00 price objective on shares of Nordstrom in a research report on Wednesday, November 1st. Finally, Zacks Investment Research raised shares of Nordstrom from a “hold” rating to a “buy” rating and set a $56.00 price objective on the stock in a research report on Monday, January 15th. Two research analysts have rated the stock with a sell rating, sixteen have given a hold rating and seven have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $48.08.

Several hedge funds and other institutional investors have recently bought and sold shares of JWN. Millie Capital Management LLC grew its position in Nordstrom by 0.5% during the 2nd quarter. Millie Capital Management LLC now owns 43,820 shares of the specialty retailer’s stock worth $2,096,000 after purchasing an additional 204 shares during the last quarter. Nordea Investment Management AB grew its position in Nordstrom by 7.2% during the 2nd quarter. Nordea Investment Management AB now owns 4,264 shares of the specialty retailer’s stock worth $204,000 after purchasing an additional 287 shares during the last quarter. Cambridge Financial Group Inc. grew its position in Nordstrom by 0.9% during the 2nd quarter. Cambridge Financial Group Inc. now owns 112,244 shares of the specialty retailer’s stock worth $5,369,000 after purchasing an additional 995 shares during the last quarter. Advisory Services Network LLC grew its position in Nordstrom by 41.8% during the 2nd quarter. Advisory Services Network LLC now owns 3,452 shares of the specialty retailer’s stock worth $165,000 after purchasing an additional 1,018 shares during the last quarter. Finally, Cognios Capital LLC grew its position in Nordstrom by 2.7% during the 4th quarter. Cognios Capital LLC now owns 43,394 shares of the specialty retailer’s stock worth $2,054,000 after purchasing an additional 1,149 shares during the last quarter. 57.87% of the stock is currently owned by hedge funds and other institutional investors.

Nordstrom (JWN) traded up $0.66 during trading on Thursday, reaching $47.89. 2,072,927 shares of the company’s stock were exchanged, compared to its average volume of 1,832,014. The firm has a market cap of $7,977.61, a price-to-earnings ratio of 16.86, a PEG ratio of 2.55 and a beta of 0.90. Nordstrom has a 12 month low of $37.79 and a 12 month high of $53.00. The company has a debt-to-equity ratio of 3.14, a quick ratio of 0.30 and a current ratio of 1.00.

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Nordstrom Company Profile

Nordstrom, Inc is a fashion specialty retailer in the United States. The Company’s segments include Retail and Credit. As of March 20, 2017, the Company operated 344 the United States stores located in 40 states as well as an e-commerce business. The Company also offers its customers a variety of payment products and services, including credit and debit cards.

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Earnings History and Estimates for Nordstrom (NYSE:JWN)

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