Nordstrom (NYSE:JWN) issued an update on its FY20 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $3.25-3.50 for the period, compared to the Thomson Reuters consensus estimate of $3.27. Nordstrom also updated its FY 2019 guidance to $3.25-3.50 EPS.
Shares of JWN stock traded up $1.39 during mid-day trading on Wednesday, hitting $26.54. 8,707,438 shares of the company’s stock were exchanged, compared to its average volume of 3,732,864. Nordstrom has a fifty-two week low of $25.01 and a fifty-two week high of $67.75. The stock has a 50-day simple moving average of $29.69 and a two-hundred day simple moving average of $37.63. The company has a quick ratio of 0.24, a current ratio of 0.76 and a debt-to-equity ratio of 6.34. The stock has a market cap of $3.92 billion, a price-to-earnings ratio of 7.48, a PEG ratio of 1.29 and a beta of 0.66.
Nordstrom (NYSE:JWN) last issued its earnings results on Wednesday, August 21st. The specialty retailer reported $0.90 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.10. Nordstrom had a return on equity of 58.16% and a net margin of 3.27%. The firm had revenue of $3.87 billion for the quarter, compared to analysts’ expectations of $3.92 billion. During the same quarter last year, the firm earned $0.95 earnings per share. The firm’s revenue for the quarter was down 4.8% compared to the same quarter last year. As a group, analysts anticipate that Nordstrom will post 3.28 earnings per share for the current fiscal year.
JWN has been the topic of several research reports. Cowen cut their price objective on Nordstrom from $44.00 to $36.00 and set a market perform rating on the stock in a research report on Thursday, May 23rd. JPMorgan Chase & Co. cut their price objective on Nordstrom from $40.00 to $35.00 and set an underweight rating on the stock in a research report on Wednesday, May 22nd. Goldman Sachs Group lowered Nordstrom from a neutral rating to a sell rating and dropped their target price for the stock from $37.00 to $30.00 in a research report on Thursday, June 27th. Credit Suisse Group dropped their target price on Nordstrom from $40.00 to $36.00 and set a neutral rating on the stock in a research report on Wednesday, May 22nd. Finally, Gordon Haskett raised Nordstrom from a reduce rating to a hold rating and set a $33.71 target price on the stock in a research report on Thursday, June 20th. Five equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and two have issued a buy rating to the company. Nordstrom has a consensus rating of Hold and an average price target of $39.56.
In other news, insider Christine Deputy sold 4,812 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $32.59, for a total transaction of $156,823.08. Following the completion of the transaction, the insider now directly owns 60,056 shares in the company, valued at $1,957,225.04. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Peter E. Nordstrom sold 3,380 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $32.46, for a total value of $109,714.80. Following the transaction, the insider now owns 2,530,989 shares of the company’s stock, valued at $82,155,902.94. The disclosure for this sale can be found here. Insiders own 5.21% of the company’s stock.
Nordstrom Company Profile
Nordstrom, Inc, a fashion retailer, provides apparel, shoes, cosmetics, and accessories for women, men, young adults, and children. It offers a range of brand name and private label merchandise through various channels, such as Nordstrom branded full-line stores and online store at Nordstrom.com; Nordstrom Rack stores; Nordstromrack.com and HauteLook; Jeffrey boutiques; clearance stores that operate under the Last Chance name; Trunk Club clubhouses and TrunkClub.com; and Nordstrom Locals.
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