Nordstrom Beats Q2 Earnings But Guidance Shows A Decline In This Key Matrix: 4 Analysts Revise Forecasts
Shares of Nordstrom Inc (NYSE:JWN) climbed in early trading on Wednesday, after the company reported upbeat second-quarter earnings.
The company reported its results amid an exciting earnings season. Here are some key analyst takeaways.
- Telsey Advisory Group analyst Dana Telsey reiterated a Market Perform rating, while raising the price target from $23 to $24.
- Goldman Sachs analyst Brooke Roach maintained a Neutral rating, while lifting the price target from $19 to $21.
- JPMorgan analyst Matthew Boss reaffirmed an Underweight rating, while raising the price target from $19 to $20.
- BMO Capital Markets analyst Simeon Siegel maintained a Market Perform rating, while lifting the price target from $20 to $22.
- KeyBanc Capital Markets analyst Ashley Owens reiterated an Overweight rating and price target of $24.
Check out other analyst stock ratings.
Telsey Advisory Group: Nordstrom reported adjusted earnings of 96 cents per share, surpassing the consensus estimate of 71 cents per share thanks to better gross margins, despite an increase in expenses. Gross margins expanded by 160 basis points (bps) to 36.6%, “primarily due to strong regular price sales and leverage on higher revenue,” she added.
Management’s guidance “still reflects caution,” with continued macro environment uncertainty, the analyst stated.
“Building on the first half momentum, JWN raised the lower end of its annual guide, …
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