Nordstrom (JWN) Sets New 12-Month Low After Earnings Miss

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Nordstrom, Inc. (NYSE:JWN) shares reached a new 52-week low during trading on Wednesday following a dissappointing earnings announcement. The company traded as low as $33.75 and last traded at $33.98, with a volume of 4916386 shares traded. The stock had previously closed at $37.85.

The specialty retailer reported $0.23 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by ($0.20). Nordstrom had a return on equity of 57.14% and a net margin of 3.56%. The company had revenue of $3.44 billion during the quarter, compared to analysts’ expectations of $3.54 billion. During the same quarter in the prior year, the company posted $0.51 EPS.

Several equities research analysts have commented on JWN shares. Guggenheim restated a “hold” rating on shares of Nordstrom in a research report on Thursday, February 28th. Wedbush lowered Nordstrom from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from $65.00 to $40.00 in a research report on Thursday, May 9th. Deutsche Bank lowered Nordstrom from a “buy” rating to a “hold” rating and set a $43.30 price objective on the stock. in a research report on Friday, February 22nd. Robert W. Baird lowered their price objective on Nordstrom from $45.00 to $38.00 and set a “neutral” rating on the stock in a research report on Wednesday. Finally, Bank of America set a $48.00 price objective on Nordstrom and gave the stock a “sell” rating in a research report on Friday, March 1st. Four equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $44.69.

In related news, insider Ken Worzel sold 17,125 shares of the stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $45.00, for a total value of $770,625.00. Following the completion of the transaction, the insider now directly owns 102,588 shares of the company’s stock, valued at approximately $4,616,460. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Christine Deputy sold 13,124 shares of the stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $42.61, for a total value of $559,213.64. The disclosure for this sale can be found here. Insiders have sold a total of 49,180 shares of company stock worth $2,164,864 in the last quarter. Insiders own 5.21% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. CX Institutional acquired a new position in Nordstrom in the 1st quarter valued at $41,000. Zions Bancorporation N.A. acquired a new position in Nordstrom in the 1st quarter valued at $41,000. Quadrant Capital Group LLC acquired a new position in Nordstrom in the 1st quarter valued at $48,000. Pinnacle Financial Partners Inc. acquired a new position in Nordstrom in the 1st quarter valued at $51,000. Finally, Whittier Trust Co. acquired a new position in Nordstrom in the 1st quarter valued at $53,000. 63.33% of the stock is owned by hedge funds and other institutional investors.

The company has a debt-to-equity ratio of 3.07, a current ratio of 1.00 and a quick ratio of 0.41. The company has a market cap of $5.75 billion, a P/E ratio of 9.68, a price-to-earnings-growth ratio of 1.66 and a beta of 0.48.

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Nordstrom Company Profile (NYSE:JWN)

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.

See Also: Earnings Reports

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