Nordstrom (JWN) is Resumed by Guggenheim to Buy

Nordstrom (JWN) was Resumed by Guggenheim to “Buy”. Guggenheim advised their investors in a research report released on Sep 30, 2016.

Many Wall Street Analysts have commented on Nordstrom. Company shares were Reiterated by RBC Capital Mkts on Aug 15, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 47 from a previous price target of $38 .Company shares were Reiterated by Stifel on Aug 12, 2016 to “Buy”, Firm has raised the Price Target to $ 58 from a previous price target of $44 .Company shares were Reiterated by Telsey Advisory Group on Aug 12, 2016 to “Market Perform”, Firm has raised the Price Target to $ 53 from a previous price target of $40 .

On the company’s financial health, Nordstrom reported $0.67 EPS for the quarter, beating the analyst consensus estimate by $ 0.11 according to the earnings call on Aug 11, 2016. Analyst had a consensus of $0.56. The company had revenue of $3592.00 million for the quarter, compared to analysts expectations of $3617.50 million. The company’s revenue was down -.2 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.93 EPS.

Nordstrom opened for trading at $51.47 and hit $52.28 on the upside on Tuesday, eventually ending the session at $51.71, with a gain of 0.41% or 0.21 points. The heightened volatility saw the trading volume jump to 16,76,257 shares. Company has a market cap of $8,969 M.

In a different news, on Sep 26, 2016, Daniel F Little (Executive Vice President) sold 5,270 shares at $52.00 per share price. According to the SEC, on Apr 4, 2016, Geevy Sk Thomas (Executive Vice President) sold 155 shares at $57.10 per share price. On Mar 30, 2016, Blake W Nordstrom (President) sold 1,557 shares at $50.58 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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