What to Expect When Nordstrom Reports After the Close
Analysts expect top and bottom line growth when Nordstrom releases its most recent quarterly results after the markets close on Thursday.
Nordstrom Inc. (NYSE: JWN) is scheduled to release its most recent quarterly results after the markets close on Thursday. The consensus estimates call for $0.44 in earnings per share (EPS) on $3.46 billion in revenue. The fiscal first quarter of last year reportedly had EPS of $0.37 and $3.35 billion in revenue.
In its most recent quarter, Nordstrom reported that comparable store sales for the quarter rose 2.6%. Net sales rose 8.4% year over year. Also, the company reported that quarterly online sales growth totaled 12.4% at Nordstrom.com and full-year sales growth rose 13.1%.
There was a fair amount of brouhaha surrounding whether the company would go private earlier this year. However, Nordstrom announced back in March that its special committee of the board had terminated talks with several Nordstrom family members who wanted to acquire the company and take it private.
Excluding Thursday’s move, Nordstrom had outperformed the broad markets with its stock up about 25% in the past 52 weeks. In just 2018 alone, the stock was up about 8%.
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A few analysts weighed in on Nordstrom ahead of the report:
- Credit Suisse has a Neutral rating with a $54 price target.
- BMO Capital Markets has a Market Perform rating and a $55 target.
- Robert Baird has a Neutral rating.
- RBC has a Hold rating with a $49 target price.
- Piper Jaffray has a Hold rating and a $48 price target.
Shares of Nordstrom were last up about 1% at $51.11, with a consensus analyst price target of $51.19 and a 52-week range of $37.79 to $54.00.
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Chris Lange is a writer for 24/7 Wall St., based in Houston. He has covered financial markets over the past decade with an emphasis on healthcare, tech, and IPOs. During this time, he has published thousands of articles with insightful analysis across these complex fields. Currently, Lange's focus is on military and geopolitical topics. Lange's work has been quoted or mentioned in Forbes, The New York Times, Business Insider, USA Today, MSN, Yahoo, The Verge, Vice, The Intelligencer, Quartz, Nasdaq, The Motley Fool, Fox Business, International Business Times, The Street, Seeking Alpha, Barron’s, Benzinga, and many other major publications. A graduate of Southwestern University in Georgetown, Texas, Lange majored in business with a particular focus on investments. He has previous experience in the banking industry and startups.
