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The Money Man Behind Rick Santorum: Who Is Foster S. Friess?Among companies reporting quarterly earnings next week are upscale retailers Nordstrom Inc. (NYSE: JWN) and Macy's Inc. (NYSE: M). Here's a quick peek at them ahead of results.
Nordstrom has missed quarterly earnings estimates only once since 2005. When the company reported third-quarter fiscal 2008 results back in November, earnings came to 59 cents per share, beating the consensus forecast of analysts polled by Thomson Financial by seven cents. For the current quarter, analysts expect 88 cents per share, compared to 89 cents in the year-ago quarter.
The company's earnings per share growth forecast for the next three to five years is 44.3%, better than the industry average and S&P 500. The analysts' consensus recommendation has been to hold Nordstrom since November. Shares are up from the 52-week low of $28.00 in January, and closed Friday at $36.00.
For news on Nordstrom that could influence the earnings results, see BloggingStocks' Nordstrom coverage.
Macy's has beat earnings expectations in the past two quarters. When it reported third-quarter fiscal 2008 results back in November, its 10 cents per share earnings beat the consensus forecast of analysts surveyed by Thomson Financial by three cents. For the current quarter, analysts expect $1.60 per share, down from $1.66 in the year-ago quarter.
The company's earnings per share growth forecast for the next three to five years is -7.6%. The analysts' consensus recommendation is to buy Macy's, though 9 of 16 analysts rate it a hold. Shares closed Friday at $24.62, up from the 52-week low of $20.94 in January.
Nordstrom is scheduled to report Monday, Macy's on Tuesday.
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