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

Nordstrom (NYSE:JWN) released its quarterly 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 analyst estimates of $3.54 billion. The company’s quarterly revenue was up 17.7% on a year-over-year basis. During the same period last year, the firm posted $0.22 earnings per share. Nordstrom updated its FY 2021 guidance to EPS.

Shares of NYSE:JWN opened at $22.66 on Thursday. The company has a market cap of $3.60 billion, a PE ratio of -2,266.00, a P/E/G ratio of 3.74 and a beta of 2.37. The company’s 50-day moving average price is $29.58 and its 200 day moving average price is $32.47. Nordstrom has a fifty-two week low of $22.35 and a fifty-two week high of $46.45. The company has a quick ratio of 0.33, a current ratio of 0.90 and a debt-to-equity ratio of 10.63.

A number of research analysts have commented on the stock. Gordon Haskett downgraded shares of Nordstrom from a “buy” rating to a “hold” rating and reduced their price objective for the company from $42.00 to $34.00 in a research note on Thursday, November 11th. Evercore ISI reduced their price objective on shares of Nordstrom from $45.00 to $35.00 and set an “outperform” rating on the stock in a research note on Wednesday. KeyCorp reiterated a “buy” rating and set a $45.00 price objective on shares of Nordstrom in a research note on Wednesday, August 25th. Zacks Investment Research upgraded shares of Nordstrom from a “hold” rating to a “strong-buy” rating and set a $33.00 price objective on the stock in a research note on Friday, August 27th. Finally, Morgan Stanley downgraded shares of Nordstrom from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $36.00 to $27.00 in a research note on Wednesday, August 25th. Three equities research analysts have rated the stock with a sell rating, nine have assigned 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, the stock presently has an average rating of “Hold” and a consensus price target of $30.88.

A hedge fund recently raised its stake in Nordstrom stock. Morgan Stanley boosted its position in Nordstrom, Inc. (NYSE:JWN) by 133.7% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,237,756 shares of the specialty retailer’s stock after purchasing an additional 1,280,070 shares during the quarter. Morgan Stanley owned about 1.41% of Nordstrom worth $81,836,000 at the end of the most recent quarter. 59.29% of the stock is currently owned by institutional investors and hedge funds.

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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