Shares of Nordstrom (NYSE: JWN) fell in after-hours trading after the company reported earnings for its third quarter of Fiscal Year 2022. Earnings per share came in at $0.20, which beat analysts’ consensus estimate of $0.15 per share.
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Sales decreased by 3.8% year-over-year, with revenue hitting $3.5 billion. This beat analysts’ expectations of $3.492 billion.
Looking forward, management now expects revenue growth and adjusted earnings per share for Fiscal Year 2022 to be in the ranges of 5% to 7% and $2.30 to $2.60, respectively.
For reference, analysts were expecting 6% in revenue growth along with an adjusted EPS of $2.36.
Is Nordstrom Stock a Buy?
Nordstrom has a Hold consensus rating based on three Buys, seven Holds, and three Sells assigned in the past three months. The average Nordstrom stock price target of $21.40 implies 5.52% downside potential.
