Investing

Earnings Previews: Heico, Intuit, Nordstrom

For Intuit’s fourth quarter of fiscal 2021, ended in July, analysts are looking for revenue of $2.32 billion, which would be down 44.5% sequentially and up 27.5% year over year. Adjusted EPS of $1.59 would be down nearly 74% sequentially and 12% year over year. The sequential decline reflects the fiscal third quarter’s tax season. For the full fiscal year, the forecast calls for EPS of $9.35, up 19%, on revenue of $9.39 billion, 22.3% higher.

The stock trades at 58.9 times expected 2021 EPS, 51.3 times estimated 2022 earnings and 44.5 times estimated 2023 earnings. The stock’s 52-week range is $295.37 to $552.88, and the high was posted today. Intuit pays an annual dividend of $2.36 (yield of 0.43%).

Nordstrom

The country’s third-largest department store chain by market cap, Nordstrom Inc. (NYSE: JWN) has added almost 150% to its share price over the past 12 months. Shares have gained about 15.4% so far in 2021, as investors fear a resurgence of coronavirus infections that will keep shoppers away from brick-and-mortar stores.

Last month, the company acquired a stake in a U.K.-based online fashion retailer in an effort to attract younger, trendier customers to its stores. Digital sales accounted for nearly 50% of Nordstrom’s first-quarter revenue, partly due because the comparison was being made to the same quarter last year when the physical stores were closed. In 2019, digital sales accounted for 31% of Nordstrom’s revenue.

Analysts have taken a wait-and-see approach to Nordstrom stock, with 15 of 23 rating the shares a Hold. Four brokerages rate the shares a Buy, while two each rate the stock a Sell or Strong Sell. At the price of around $36.10, the upside potential on a median price target of $38 is about 5.3%. At the high price target of $48, the potential upside is about 33%.

For the second quarter of fiscal 2022, ended in July, revenue is expected to come in at $3.33 billion, or up 10.6% sequentially and 44% year over year. Adjusted EPS are forecast at $0.30, up from a loss per share of $0.64 in the first quarter and $1.54 in the year-ago quarter. For the full fiscal year, analysts currently estimate EPS of $1.28, up from a loss per share of $3.17 last year, on sales of $13.81 billion, up about 29%.

The stock trades at 28.2 times expected 2022 EPS, 15.0 times estimated 2023 earnings and 12.9 times estimated 2024 earnings. The stock’s 52-week range is $11.72 to $46.45, and Nordstrom has suspended its dividend payments.

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