Economy

New York State Teachers Retirement System Trims Position in Nordstrom, Inc. (JWN)

New York State Teachers Retirement System Trims Position in Nordstrom, Inc. (JWN)”

Nordstrom Inc on Thursday reported its quarterly same-store sales fell 0.9 percent from the year-ago period, worse-than-expected, as hurricanes affected traffic in Puerto Rico, Florida and Texas. Four investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and seven have given a buy rating to the company. The stock had fallen 16 percent this year through Thursday's close.

Shares of Nordstrom, Inc. The hurricanes that hit Florida and Texas also trimmed profit during the quarter ending on October 28, the company said. Guggenheim began coverage on shares of Nordstrom in a report on Friday, September 30th. Royal Bank Of Canada restated a hold rating and issued a $45.00 price target on shares of Nordstrom in a research report on Thursday, October 5th.

A number of analysts have commented on the company. If you are reading this article on another publication, it was stolen and republished in violation of USA & global copyright laws. The original version of this piece can be accessed at https://www.dispatchtribunal.com/2017/11/09/zacks-investment-research-downgrades-nordstrom-inc-jwn-to-sell.html. "(NYSE:JWN) Downgraded by Zacks Investment Research to Sell" was originally reported by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you happen to be reading this article on another website, it was stolen and illegally republished in violation of US and worldwide copyright law. MN boosted its holdings in shares of Nordstrom by 1,155.2% during the 2nd quarter. 2,277,303 shares of the company traded hands, compared to its average volume of 2,693,876. Also, Director Enrique Hernandez, Jr. sold 24,534 shares of the company's stock in a transaction that occurred on Wednesday, November 23rd. Teachers Advisors LLC increased its position in Nordstrom by 23.6% during the first quarter.

Nordstrom reported a 0.9 percent decline in same-store sales for the quarter ended October 28, missing the 0.4 percent decline expected by research firm Consensus Metrix. Advisory Services Network LLC now owns 2,250 shares of the company's stock valued at $117,000 after buying an additional 349 shares during the last quarter. Xact Kapitalforvaltning AB increased its position in Nordstrom by 3.0% during the second quarter. BlackRock Inc. now owns 8,021,009 shares of the specialty retailer's stock valued at $373,537,000 after purchasing an additional 7,689,800 shares during the period. Finally, Strs Ohio bought a new stake in Nordstrom during the third quarter valued at approximately $143,000. The stock's 50 day moving average is $55.10 and its 200 day moving average is $47.77. Nordstrom has a fifty-two week low of $38.14 and a fifty-two week high of $62.82. The firm has a market cap of $6,368.64, a price-to-earnings ratio of 11.64, a P/E/G ratio of 2.14 and a beta of 0.84.

In terms of earnings per share, 26 analysts have a 1.15 EPS mean target for the quarter ending Jan-17, for the quarter ending Apr-18, 13 analysts have a 0.41 EPS mean target and for the quarter ending Apr-18 there are 28 estimates of 2.93 EPS.

Net sales rose about 2 percent to $3.54 billion.

Comparable sales, a key metric, fell 0.9 percent in the quarter, deeper than analysts' estimate of a 0.4 percent decline. During the same quarter in the previous year, the firm posted $0.57 earnings per share.

For the full year, it's narrowed expectations slightly and now sees retail EBIT of $755M-$785M (down from previous $790M-$840M) and credit EBIT of $165M (up from previous $145M), along with EPS of $2.85-$2.95 (narrowed from previous $2.85-$3.00, and slightly below consensus for $2.99).



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