Zacks’ analyst wrote, “Nordstrom’s fourth-quarter fiscal 2012 earnings of $1.40 per share surpassed the Zacks Consensus Estimate and rose 26.1% from the year-ago earnings driven by solid top-line growth, impressive comps trends and effective cost management. Total revenue grew over 13.3% to $3,702 million on account of robust performance at the company’s stores as well as the inclusion of an additional week in fiscal 2012. Looking into fiscal 2013, Nordstrom expects earnings in the range of $3.65 – $3.80 per share, based on estimated sales growth of 4.5% to 6.5%. We believe the company’s sustained focus on expanding its store network along with enhancing online sales and consumer retention strategies will boost its top line and profitability. However, we have maintained our long-term Neutral’ recommendation on the stock, as we remain slightly cautious on the company’s growth prospect due to sluggish economic recovery, intense competition and exposure to seasonal fluctuations.”
Nordstrom traded down 0.39% on Wednesday, hitting $54.01. Nordstrom has a 1-year low of $46.27 and a 1-year high of $58.44. The stock’s 50-day moving average is currently $54.99. The company has a market cap of $10.640 billion and a price-to-earnings ratio of 15.23.
The company also recently announced a quarterly dividend, which is scheduled for Friday, March 22nd. Stockholders of record on Monday, March 11th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.21%. The ex-dividend date is Thursday, March 7th. This is a boost from Nordstrom’s previous quarterly dividend of $0.27.
A number of other firms have also recently commented on JWN. Analysts at Deutsche Bank cut their price target on shares of Nordstrom from $60.00 to $58.00 in a research note to investors on Friday, February 22nd. They now have a buy rating on the stock. Separately, analysts at Citigroup raised their price target on shares of Nordstrom from $58.00 to $60.00 in a research note to investors on Friday, February 22nd. They now have a neutral rating on the stock. Finally, analysts at UBS AG cut their price target on shares of Nordstrom from $67.00 to $62.00 in a research note to investors on Friday, February 22nd. They now have a buy rating on the stock.
Nine equities research analysts have rated the stock with a buy rating, two have assigned an overweight rating, eleven have issued a hold rating, and two have assigned an underweight rating to the company’s stock. Nordstrom presently has an average rating of overweight and an average price target of $59.00.
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