Nordstrom (JWN) is Reiterated by Topeka Capital Markets to Buy, Lowers Price Target to $ 50

Nordstrom (JWN) was Reiterated by Topeka Capital Markets to “Buy” while Lowering the Price Target of the company shares to $ 50 from a previous price target of $69 . Topeka Capital Markets advised their investors in a research report released on May 13, 2016.

Many Wall Street Analysts have commented on Nordstrom. Shares were Reiterated by Telsey Advisory Group on May 13, 2016 to “Market Perform” and Lowered the Price Target to $ 40 from a previous price target of $52 .Shares were Reiterated by Stifel on May 13, 2016 to “Buy” and Lowered the Price Target to $ 54 from a previous price target of $66 .RBC Capital Mkts Initiated Nordstrom on May 4, 2016 to “Sector Perform”, Price Target of the shares are set at $51.

On the company’s financial health, Nordstrom reported $0.36 EPS for the quarter, missing the analyst consensus estimate by $ -0.09 based on the information available during the earnings call on May 12, 2016. Analyst had a consensus of $0.45. The company had revenue of $3192.00 million for the quarter, compared to analysts expectations of $3234.94 million. The company’s revenue was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.66 EPS.

Nordstrom closed down -0.34 points or -0.69% at $48.86 with 50,63,847 shares getting traded on Tuesday. Post opening the session at $48.7, the shares hit an intraday low of $47.96 and an intraday high of $49.02 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

In a different news, on Apr 4, 2016, Geevy Sk Thomas (Executive Vice President) sold 155 shares at $57.10 per share price. According to the SEC, on Mar 30, 2016, Blake W Nordstrom (President) sold 1,557 shares at $50.58 per share price. On Mar 17, 2016, Michael G Koppel (Executive Vice President) sold 38,073 shares at $56.56 per share price, according to the Form-4 filing with the securities and exchange commission.

Nordstrom Inc. is a fashion specialty retailer in the United States. The company operates through two segments: Retail and Credit. The Retail segment includes approximately 115 Nordstrom branded full-line stores in the United States and approximately 167 off-price Nordstrom Rack stores two Canada full-line stores and HauteLook and other retail channels including five Trunk Club showrooms and its two Jeffrey boutiques and one clearance store that operates under the name Last Chance. Credit segment includes its wholly owned federal savings bank Nordstrom fsb through which it provides a private label credit card two Nordstrom VISA credit cards and a debit card. The Company operated 290 United States stores located in 38 states as well as an e-commerce business through and HauteLook and as of March 16 2015. It also operates two Nordstrom full-line stores in Canada.


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