Nordstrom Target of Unusually Large Options Trading (JWN)

Nordstrom, Inc. (NYSE:JWN) saw some unusual options trading on Friday. Stock investors bought 26,271 call options on the company. This represents an increase of Infinity compared to the typical volume of 0 call options.

Several equities analysts have recently issued reports on the company. Royal Bank Of Canada set a $45.00 target price on Nordstrom and gave the stock a “hold” rating in a research report on Tuesday, August 29th. UBS AG cut their target price on Nordstrom from $46.00 to $43.00 and set a “neutral” rating for the company in a research report on Friday, November 10th. ValuEngine downgraded Nordstrom from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Robert W. Baird restated a “hold” rating and issued a $50.00 target price on shares of Nordstrom in a research report on Wednesday, November 1st. Finally, Cowen and Company restated an “outperform” rating and issued a $49.00 target price on shares of Nordstrom in a research report on Tuesday, August 29th. Five analysts have rated the stock with a sell rating, sixteen have given a hold rating and seven have given a buy rating to the company. Nordstrom presently has an average rating of “Hold” and an average price target of $45.33.

Shares of Nordstrom (NYSE:JWN) opened at $39.16 on Wednesday. The stock has a market cap of $6,669.00, a price-to-earnings ratio of 12.83, a P/E/G ratio of 2.26 and a beta of 0.84. Nordstrom has a fifty-two week low of $37.79 and a fifty-two week high of $61.85. The company has a quick ratio of 0.30, a current ratio of 1.00 and a debt-to-equity ratio of 3.14.

Nordstrom (NYSE:JWN) last released its quarterly earnings results on Thursday, November 9th. The specialty retailer reported $0.67 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.04. Nordstrom had a net margin of 3.25% and a return on equity of 67.44%. The company had revenue of $3.54 billion during the quarter, compared to analysts’ expectations of $3.50 billion. During the same period in the prior year, the company earned $0.84 earnings per share. The business’s quarterly revenue was up 2.0% compared to the same quarter last year. analysts anticipate that Nordstrom will post 2.95 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Gemmer Asset Management LLC raised its position in Nordstrom by 0.8% in the second quarter. Gemmer Asset Management LLC now owns 2,270 shares of the specialty retailer’s stock worth $109,000 after purchasing an additional 18 shares in the last quarter. Global X Management Co. LLC raised its position in Nordstrom by 0.9% in the second quarter. Global X Management Co. LLC now owns 6,587 shares of the specialty retailer’s stock worth $315,000 after purchasing an additional 59 shares in the last quarter. FineMark National Bank & Trust raised its position in Nordstrom by 2.1% in the second quarter. FineMark National Bank & Trust now owns 6,156 shares of the specialty retailer’s stock worth $294,000 after purchasing an additional 128 shares in the last quarter. State of Alaska Department of Revenue raised its position in Nordstrom by 1.5% in the second quarter. State of Alaska Department of Revenue now owns 9,520 shares of the specialty retailer’s stock worth $455,000 after purchasing an additional 140 shares in the last quarter. Finally, Synovus Financial Corp raised its position in Nordstrom by 1.7% in the second quarter. Synovus Financial Corp now owns 8,760 shares of the specialty retailer’s stock worth $423,000 after purchasing an additional 143 shares in the last quarter. 62.35% of the stock is owned by institutional investors and hedge funds.

COPYRIGHT VIOLATION NOTICE: This report was first reported by Transcript Daily and is the property of of Transcript Daily. If you are accessing this report on another publication, it was illegally stolen and republished in violation of US & international copyright and trademark legislation. The original version of this report can be accessed at https://transcriptdaily.com/2017/11/15/nordstrom-target-of-unusually-large-options-trading-jwn.html.

Nordstrom Company Profile

Nordstrom, Inc is a fashion specialty retailer in the United States. The Company’s segments include Retail and Credit. As of March 20, 2017, the Company operated 344 the United States stores located in 40 states as well as an e-commerce business. The Company also offers its customers a variety of payment products and services, including credit and debit cards.

Receive News & Ratings for Nordstrom Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nordstrom Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply