Nordstrom (NYSE:JWN) Issues Quarterly Earnings Results

Nordstrom (NYSE:JWN) released its quarterly earnings data on Tuesday. The specialty retailer reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.11, Briefing.com reports. Nordstrom had a negative return on equity of 21.26% and a negative net margin of 1.44%. The business had revenue of $3.35 billion during the quarter, compared to analyst estimates of $3.34 billion. During the same quarter last year, the business posted $0.25 EPS. The company’s revenue was up 4.6% on a year-over-year basis. Nordstrom updated its FY25 guidance to $1.75-2.05 EPS and its FY 2024 guidance to 1.750-2.050 EPS.

Nordstrom Stock Performance

NYSE JWN opened at $22.62 on Thursday. The company has a debt-to-equity ratio of 2.76, a current ratio of 1.07 and a quick ratio of 0.41. The company has a market cap of $3.71 billion, a P/E ratio of 13.23 and a beta of 2.59. The stock has a 50-day moving average of $22.86 and a two-hundred day moving average of $22.23. Nordstrom has a 1-year low of $14.80 and a 1-year high of $24.99.

Nordstrom Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Tuesday, December 3rd will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $0.76 annualized dividend and a dividend yield of 3.36%. Nordstrom’s dividend payout ratio is currently 44.44%.

Insider Activity at Nordstrom

In related news, COO Alexis Depree sold 20,000 shares of Nordstrom stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $23.20, for a total value of $464,000.00. Following the completion of the transaction, the chief operating officer now directly owns 169,331 shares in the company, valued at approximately $3,928,479.20. This trade represents a 10.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 5.78% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on JWN. TD Cowen boosted their price target on Nordstrom from $24.00 to $25.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Bank of America boosted their target price on shares of Nordstrom from $20.00 to $22.00 and gave the company an “underperform” rating in a research note on Wednesday. StockNews.com upgraded shares of Nordstrom from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. KeyCorp cut shares of Nordstrom from an “overweight” rating to a “sector weight” rating in a research report on Thursday, September 26th. Finally, Barclays raised Nordstrom from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $18.00 to $23.00 in a research note on Thursday, September 5th. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $20.65.

Nordstrom Company Profile

Nordstrom, Inc, a fashion retailer, provides apparels, shoes, beauty, accessories, and home goods for women, men, young adults, and children. It offers a range of brand-name and private-label merchandise through various channels, such as Nordstrom branded stores and online at Nordstrom.com; Nordstrom.ca; Nordstrom stores; Nordstrom Rack stores; Nordstrom Locals; ASOS; Nordstromrack.com; mobile application; and clearance stores under the Last Chance name.