financetom
Personal Finance
financetom
/
Personal Finance
/
Research Alert: CFRA Lowers Opinion On Shares Of Nordstrom, Inc. To Sell From Hold
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Research Alert: CFRA Lowers Opinion On Shares Of Nordstrom, Inc. To Sell From Hold
May 31, 2024 5:56 AM

08:30 AM EDT, 05/31/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We maintain our 12-month price target of $16, based on 8.0x our FY 25 (Jan.) EPS estimate and in line with peers average forward P/E multiple. We maintain our FY 25 and FY 26 EPS estimates at $2.00, respectively. JWN posts normalized Q1 EPS of -$0.24 vs. $0.07, $0.17 below consensus estimates on revenue of $3.34B vs. $3.18B, $139M above estimates. By brand in Q1, Nordstrom banner sales increased 0.6% Y/Y, while Nordstrom Rack grew 13.8% in the quarter. Nordstrom Rack comparable store sales increased 7.9%. Q1 gross margin compressed 225 bps Y/Y to 31.6% due to timing matters, external theft, and inventory cleanup. JWN reaffirmed its full-year guidance even after the Q1 EPS miss. Although Nordstrom Rack is experiencing top-line growth, the company continues to underperform in gross and operating margin. We believe valuation is extended and do not believe Nordstrom Rack will drive margins higher over the next 12 months.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Research Alert: CFRA Keeps Strong Buy Opinion On Shares Of Nasdaq, Inc.
Research Alert: CFRA Keeps Strong Buy Opinion On Shares Of Nasdaq, Inc.
Oct 21, 2025
11:45 AM EDT, 10/21/2025 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We keep our target price at $130, applying a forward P/E of 34.3x our 2026 EPS estimate, above NDAQ's five-year average forward P/E of 23.3x, given continued wins in financial...
Research Alert: CFRA Reiterates Buy Opinion On Shares Of The General Motors Company
Research Alert: CFRA Reiterates Buy Opinion On Shares Of The General Motors Company
Oct 21, 2025
11:20 AM EDT, 10/21/2025 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We increase our 12-month target by $6 to $78, based on a 2026 P/E of 7.3x, a slight premium to GM's five-year mean forward P/E of 6.8x. We raise our...
Research Alert: CFRA Keeps Buy Opinion On Shares Of The Progressive Corporation
Research Alert: CFRA Keeps Buy Opinion On Shares Of The Progressive Corporation
Oct 20, 2025
03:55 PM EDT, 10/20/2025 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We cut our target price by $25 to $265, 13.3x our newly initiated 2027 operating EPS estimate of $19.95 and 14.4x our 2026 EPS estimate of $18.45 (up from $17.35)...
Research Alert: CFRA Reiterates Buy Opinion On Shares Of The Coca-cola Company
Research Alert: CFRA Reiterates Buy Opinion On Shares Of The Coca-cola Company
Oct 21, 2025
12:30 PM EDT, 10/21/2025 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We maintain our 12-month target of $80, based on a 2026 P/E of 25x, a slight premium to KO's historic average multiples. We increase our 2025 adjusted EPS estimate to...
Copyright 2023-2026 - www.financetom.com All Rights Reserved