Nordstrom (NYSE:JWN) Earns Neutral Rating from Analysts at Credit Suisse Group

Credit Suisse Group started coverage on shares of Nordstrom (NYSE:JWN) in a research report released on Monday, March 12th, MarketBeat.com reports. The firm issued a neutral rating and a $54.00 target price on the specialty retailer’s stock.

Several other equities analysts also recently weighed in on JWN. Zacks Investment Research raised Nordstrom from a hold rating to a buy rating and set a $56.00 target price for the company in a research report on Monday, January 15th. Piper Jaffray set a $45.00 target price on Nordstrom and gave the company a hold rating in a research report on Wednesday, January 10th. JPMorgan Chase raised Nordstrom from an underweight rating to a neutral rating and lifted their target price for the company from $33.00 to $48.00 in a research report on Tuesday, January 2nd. Robert W. Baird set a $49.00 target price on Nordstrom and gave the company a hold rating in a research report on Friday, December 22nd. Finally, ValuEngine downgraded Nordstrom from a buy rating to a hold rating in a research report on Sunday, December 31st. Two research analysts have rated the stock with a sell rating, sixteen have given a hold rating and six have assigned a buy rating to the stock. Nordstrom currently has an average rating of Hold and a consensus price target of $48.92.

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JWN traded down $2.04 on Monday, hitting $48.03. The company had a trading volume of 1,308,794 shares, compared to its average volume of 1,995,182. The firm has a market cap of $8,253.14, a P/E ratio of 16.23, a price-to-earnings-growth ratio of 2.41 and a beta of 0.83. Nordstrom has a 1 year low of $37.79 and a 1 year high of $54.00. The company has a current ratio of 1.07, a quick ratio of 0.45 and a debt-to-equity ratio of 2.74.

Nordstrom (NYSE:JWN) last issued its quarterly earnings data on Thursday, March 1st. The specialty retailer reported $1.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.24 by ($0.04). The company had revenue of $4.60 billion during the quarter, compared to analysts’ expectations of $4.57 billion. Nordstrom had a net margin of 2.86% and a return on equity of 60.72%. The firm’s quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.27 earnings per share. equities research analysts forecast that Nordstrom will post 3.42 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 20th. Stockholders of record on Monday, March 5th were given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date was Friday, March 2nd. Nordstrom’s dividend payout ratio is presently 50.00%.

Several institutional investors have recently made changes to their positions in JWN. Bank of New York Mellon Corp grew its position in shares of Nordstrom by 11.8% during the fourth quarter. Bank of New York Mellon Corp now owns 10,245,078 shares of the specialty retailer’s stock worth $485,413,000 after buying an additional 1,078,880 shares in the last quarter. Millennium Management LLC grew its position in shares of Nordstrom by 301.9% during the fourth quarter. Millennium Management LLC now owns 1,272,685 shares of the specialty retailer’s stock worth $60,300,000 after buying an additional 955,994 shares in the last quarter. Ameriprise Financial Inc. grew its position in shares of Nordstrom by 596.9% during the third quarter. Ameriprise Financial Inc. now owns 779,081 shares of the specialty retailer’s stock worth $36,734,000 after buying an additional 667,296 shares in the last quarter. USS Investment Management Ltd acquired a new position in shares of Nordstrom during the fourth quarter worth about $27,700,000. Finally, Disciplined Growth Investors Inc. MN grew its position in shares of Nordstrom by 60.6% during the fourth quarter. Disciplined Growth Investors Inc. MN now owns 1,428,767 shares of the specialty retailer’s stock worth $67,695,000 after buying an additional 539,040 shares in the last quarter. 58.77% of the stock is owned by institutional investors and hedge funds.

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About Nordstrom

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.

Analyst Recommendations for Nordstrom (NYSE:JWN)

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