Nordstrom, Inc. (NYSE:JWN) reached a new 52-week low on Wednesday following a weaker than expected earnings announcement. The stock traded as low as $23.37 and last traded at $23.52, with a volume of 299659 shares. The stock had previously closed at $31.93.
The specialty retailer reported $0.39 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.56 by ($0.17). The company had revenue of $3.64 billion during the quarter, compared to analysts’ expectations of $3.54 billion. The company’s revenue was up 17.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.22 EPS.
A number of research analysts have commented on the company. Deutsche Bank Aktiengesellschaft reduced their price objective on Nordstrom from $40.00 to $37.00 and set a “hold” rating on the stock in a research note on Wednesday, August 25th. Evercore ISI reduced their price objective on Nordstrom from $45.00 to $35.00 and set an “outperform” rating on the stock in a research note on Wednesday. KeyCorp restated a “buy” rating and set a $45.00 price objective on shares of Nordstrom in a research note on Wednesday, August 25th. Jefferies Financial Group cut Nordstrom from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $48.00 to $30.00 in a research note on Wednesday. Finally, Zacks Investment Research upgraded 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. Three analysts have rated the stock with a sell rating, nine have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $31.20.
The company has a debt-to-equity ratio of 10.63, a current ratio of 0.90 and a quick ratio of 0.33. The stock has a market capitalization of $3.60 billion, a P/E ratio of -2,266.00, a price-to-earnings-growth ratio of 3.74 and a beta of 2.37. The company has a fifty day moving average of $29.49 and a two-hundred day moving average of $32.40.
About Nordstrom (NYSE:JWN)
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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