Thursday, 14 December, 2017

Nordstrom's First-Quarter Earnings Rise and Meet Expectations

Will Nordstrom’s Fiscal 1Q17 Revenue Rise above Expectations Nordstrom's First-Quarter Earnings Rise and Meet Expectations
Laurie Berry | 14 May, 2017, 22:39

Nordstrom's Retail gross profit margin expanded 7 basis points (bps) to 34.3%, mainly on account of superb gross margin performance at full-line stores, offset by higher markdown in off-price business. (NYSE:JWN) opened at 46.21 on Friday.

The firm holds total outstanding shares are 168.55 million shares and floated shares were 114.78 million.

Nordstrom reported it earned $63 million, or 37 cents per share, in the quarter. Maxim Group now has a buy rating on the stock.

Now the P/E of Nordstrom Inc. stands at 22.9. Assetmark Inc. now owns 235,621 shares of the specialty retailer's stock valued at $12,224,000 after buying an additional 185,242 shares during the last quarter. DUPONT CAPITAL MANAGEMENT Corp raised its stake in Nordstrom by 46.1% in the third quarter. Gemmer Asset Management LLC now owns 2,252 shares of the specialty retailer's stock worth $105,000 after buying an additional 18 shares in the last quarter. Comparable sales for the quarter decreased 0.8 percent. (NYSE:JWN) traded down 9.446% during midday trading on Friday, reaching $41.845. Noting its average daily volume at 3 million shares each day over the month, this signifies a pretty significant change over the norm.

A moving average (MA) is a trend-following or lagging indicator because it is based on past prices. Nordstrom also was the target of some unusual options trading on Thursday. Stock traders acquired 24,400 put options on the stock. This represents an increase of approximately 1,047% compared to the typical daily volume of 2,128 put options.

During the company's earnings call Thursday after the bell, executives acknowledged they were unhappy with its topline results and would stay focused on serving the customer to improve them. Analysts surveyed by FactSet expected Nordstroms to report a dip of only 0.1 percent. The company had revenue of $4.24 billion for the quarter, compared to the consensus estimate of $4.36 billion.

First Australian business infected in global cyber attack
Investigators are working to track down those responsible for the ransomware used on Friday, known as Wanna Decryptor or WannaCry. Home Secretary, Amber Rudd, spoke Saturday after the emergency COBRA meeting to discuss the cyberattack.

Nordstrom brand's net sales (including the US and Canada full-line stores, Nordstrom.com and Trunk Club) decreased 1.7%, with comps falling 2.8%. Equities analysts predict that Nordstrom, Inc. will post $2.92 earnings per share for the current year. If you are reading this piece of content on another publication, it was illegally stolen and republished in violation of United States & global trademark and copyright legislation. The correct version of this story can be accessed at https://sportsperspectives.com/2017/05/12/nordstrom-inc-jwn-issues-fy18-earnings-guidance.html.

Several other research firms also recently commented on JWN.

The company reported its EPS on 02/23/2017.

The consensus recommendation, according to Zacks Investment research, is 2.79. Susquehanna Bancshares Inc began coverage on Nordstrom in a research report on Friday, February 10th. Buy rating has been given by 0 analysts to the company stock whereas no analyst given UNDERPERFORM rating to stock and 1 analyst given HOLD rating. Stock has got OUTPERFORM rating from 5 analysts of Thomson Reuters, 16 analysts given HOLD rating to the stock and 0 given UNDERPERFORM rating.

In related news, insider Daniel F. Little sold 7,423 shares of the stock in a transaction on Monday, April 3rd. The current share price indicate that stock is -44.55% away from its one year high and is moving 13.73% ahead of its 52-week low. Following the completion of the sale, the insider now owns 76,371 shares of the company's stock, valued at $3,590,200.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, President Blake W. Nordstrom sold 1,558 shares of the stock in a transaction on Monday, February 27th.

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