Nordstrom Inc’s ‘Hold’ Rating Reaffirmed by Macquarie Analysts

The company presently has a consensus rating of “Hold” and a consensus price target of $79.03. JPMorgan Chase & Co. restated a “buy” rating and set a $84.00 price target (up previously from $82.00) on shares of Nordstrom in a research note on Monday, May 18th. It also comprises of two full- line shops in Canada, Nordstromrack.com, its two Jeffrey boutiques and HauteLook along with various retail channels along with five Trunk Club showrooms and TrunkClub.com and one clearance store that is operated with the name Last Chance. The company operates through two segments: Retail and Credit. This marked the company’s fourth consecutive quarter of high-single-digit retail sales growth. Institutional Investors own 56% of Company shares. Sales surged 4.6% to $3.598 billion as compared with $3.296 billion the previous year.

Total comps improved 4.9% in the quarter, consistent with trends witnessed throughout the year.

Nordstrom is a well-known leader in the department store business, and it has become famous due to its high quality and fashionable products. S&P 500 has rallied 8.81% during the last 52-weeks. This is up from average of 1.31 million shares.

The firm’s EPS (diluted) was a solid beat on market watchers’ bets for Q2, while revenues – which rose 9 percent year-over-year – fell slightly short of expectations. The shares opened for trading at $75.62 and hit $77.12 on the upside, eventually ending the session at $76.24, with a gain of 0.33% or 0.25 points. During the first half of fiscal 2015, Nordstrom generated $415 million in cash from operations.

Over the last six months, Nordstrom Inc. The 12-month mean target is $76.86, which means downside potential of 0.99% over the current price.

The discount version of the upscale Nordstrom department store will open in a 38,080-square-foot, two-level stand-alone building formerly occupied by Sears Auto Center at the northern entrance to Westfield Countryside mall.

Nordstrom Rack will add its third outlet to the Tampa Bay area on September 3 with the grand opening of a store in Clearwater.

As outlined in the article, for the near future the company plans to operate more full-line stores.

Taking into account the second-quarter results and reclassifying receivables as “held for sale” related to the pending credit card transaction along with the share repurchases made in the second quarter, Nordstrom raised its guidance for fiscal 2015. 90 with revenue estimates of 3.67B.

Sell-side analysts are expecting Laclede Group, Inc. Further, Kynikos Associates Lp have 3.09% of their fund’s portfolio invested in the company for 81,760 shares. Excluding the impact of the credit transaction and other one-time items, earnings per share is projected in the range of $3.70-$3.80.

Nordstrom is now covered by 19 Wall Street analysts. 7 have rated it as a strong buy. Today, you can download 7 Best Stocks for the Next 30 Days.