Nomura Securities Maintains a 'Neutral' on Nordstrom (JWN); Q1 Review; Miss, But Still Strong Top-line Momentum
Tweet
Share
E-mailGet Alerts JWN Hot Sheet
Price: $24.66 --0%
Rating Summary:
4 Buy, 30 Hold, 6 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
4 Buy, 30 Hold, 6 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Join SI Premium – FREE
Nomura Securities maintains a 'Neutral' on Nordstrom (NYSE: JWN) price target of $55.00.
Analyst, Paul Lejuez, said, "Following its 1Q miss vs. cons and implied weak 2Q, mgmt maintained annual EPS guidance ($3.30-$3.45 vs. cons of $3.49). Lack of EPS flow through in 1H is expected to reverse in 2H if top line trends remain strong 1Q EPS of $0.70 vs. our est of $0.72 and cons of $0.75. Sales/sq ft +10% in 1Q, Rack profits continue to be strong and have seen no deterioration as store fleet grows Missed 1Q ests due to higher SG&A and incremental $10MM added to annual SG&A forecast due to increased investments. Our F12E of $3.54 remains unchanged, though we have adjusted our qtrs. JWN has strong top-line momentum, and while investments continue to limit EPS upside, we believe this is beginning to be priced into the stock."
For an analyst ratings summary and ratings history on Nordstrom click here. For more ratings news on Nordstrom click here.
Shares of Nordstrom closed at $53.53 yesterday.
Analyst, Paul Lejuez, said, "Following its 1Q miss vs. cons and implied weak 2Q, mgmt maintained annual EPS guidance ($3.30-$3.45 vs. cons of $3.49). Lack of EPS flow through in 1H is expected to reverse in 2H if top line trends remain strong 1Q EPS of $0.70 vs. our est of $0.72 and cons of $0.75. Sales/sq ft +10% in 1Q, Rack profits continue to be strong and have seen no deterioration as store fleet grows Missed 1Q ests due to higher SG&A and incremental $10MM added to annual SG&A forecast due to increased investments. Our F12E of $3.54 remains unchanged, though we have adjusted our qtrs. JWN has strong top-line momentum, and while investments continue to limit EPS upside, we believe this is beginning to be priced into the stock."
For an analyst ratings summary and ratings history on Nordstrom click here. For more ratings news on Nordstrom click here.
Shares of Nordstrom closed at $53.53 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Piper Sandler Reiterates Overweight Rating on Estee Lauder (EL), 'F4Q26 Preview'
- Fiserv (FISV) PT Lowered to $60 at Freedom Broker
- Jefferies on Five Below (FIVE): 'Our latest channel checks reinforce our view that FIVE's momentum extends well beyond viral Squish trends'
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS ViewRelated Entities
NomuraSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
