Other Hedge Funds, Including, Utah Retirement Systems reduced its stake in JWN by selling 500 shares or 2.18% in the most recent quarter. 13,878,515 shares of the company were exchanged. Earlier, the company expected earnings of $2.50 to $2.70 per share.
Advertisement
Shares, which in June set a almost six-year low, surged 11% to $52.91 in after-hours trading. The company issued revenue guidance of +2.5-4.5% (Approx $14.45-14.73 billion), compared to the consensus revenue estimate of $14.59 billion.
During the last trading session, the stock’s price changed -17.95% below its 200 day moving average of $46.20 and moving -8.71% downbeat it’s SMA 50 of $41.53. Nordstrom has a 12-month low of $35.01 and a 12-month high of $79.98. Company has a market cap of $7,765 M.
Nordstrom’s sales at stores open at least a year fell 1.2 percent, falling for the second straight quarter. Sales slipped 1.4 percent to $3.65 billion, just missing the $3.68 billion projected. Nordstrom sold its credit-card business a year ago.
Nordstrom Inc., the largest US luxury department-store chain, posted second-quarter profit that topped analysts’ estimates, helped by higher sales at its off-price Rack chain.
Nordstrom saw FY16 EPS at $2.60-$2.75 vs. estimates of $2.57. Evercore ISI downgraded Nordstrom from a “hold” rating to a “sell” rating and decreased their target price for the company from $50.00 to $40.00 in a research note on Friday, April 22nd. According to a research note published on May 16, 2016, analysts at Northcoast have upped their rating on the company stock from Sell to Neutral.
The company’s off-price division turned in a strong performance. Six equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating and eight have given a buy rating to the stock. The mean price target is calculated keeping in view the consensus of 26 brokerage firms.
On 8/10/2016, Nordstrom, Inc.
Advertisement
In the Nordstrom brand, including USA and Canada full-line stores and Nordstrom.com, net sales when combined with Trunk Club, decreased 0.4 percent and comparable sales decreased 2.3 percent.
