Nordstrom, Inc. (NYSE:JWN) Receives $21.13 Average PT from Brokerages

Shares of Nordstrom, Inc. (NYSE:JWN) have earned a consensus rating of “Reduce” from the fourteen brokerages that are presently covering the stock, Marketbeat reports. Four investment analysts have rated the stock with a sell rating and ten have issued a hold rating on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $21.13.

Several research firms have weighed in on JWN. Citigroup upped their price objective on shares of Nordstrom from $22.00 to $23.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. KeyCorp cut shares of Nordstrom from an “overweight” rating to a “sector weight” rating in a research report on Thursday, September 26th. Telsey Advisory Group lowered their price objective on Nordstrom from $26.00 to $24.00 and set a “market perform” rating for the company in a research note on Tuesday, December 24th. Argus cut Nordstrom from a “buy” rating to a “sell” rating in a research report on Monday, December 30th. Finally, StockNews.com started coverage on Nordstrom in a research report on Friday. They issued a “buy” rating for the company.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. raised its holdings in shares of Nordstrom by 29.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 388,796 shares of the specialty retailer’s stock worth $8,744,000 after purchasing an additional 89,114 shares during the period. Franklin Resources Inc. increased its position in Nordstrom by 29.9% in the third quarter. Franklin Resources Inc. now owns 50,294 shares of the specialty retailer’s stock worth $1,152,000 after buying an additional 11,583 shares during the last quarter. Tidal Investments LLC raised its stake in shares of Nordstrom by 47.8% in the third quarter. Tidal Investments LLC now owns 17,602 shares of the specialty retailer’s stock valued at $396,000 after buying an additional 5,690 shares during the period. Sanctuary Advisors LLC lifted its position in shares of Nordstrom by 160.9% during the 3rd quarter. Sanctuary Advisors LLC now owns 51,071 shares of the specialty retailer’s stock valued at $1,187,000 after buying an additional 31,498 shares during the last quarter. Finally, Virtu Financial LLC bought a new position in shares of Nordstrom during the 3rd quarter worth $451,000. 88.73% of the stock is owned by institutional investors.

Nordstrom Stock Performance

Shares of Nordstrom stock opened at $24.11 on Friday. The business has a 50-day simple moving average of $23.38 and a 200 day simple moving average of $22.68. Nordstrom has a one year low of $16.78 and a one year high of $24.99. The company has a debt-to-equity ratio of 2.65, a current ratio of 1.14 and a quick ratio of 0.35. The firm has a market capitalization of $3.98 billion, a price-to-earnings ratio of 15.36 and a beta of 2.52.

Nordstrom (NYSE:JWN) last released its quarterly earnings data on Tuesday, November 26th. The specialty retailer reported $0.33 EPS for the quarter, beating the consensus estimate of $0.22 by $0.11. Nordstrom had a negative return on equity of 18.04% and a negative net margin of 1.57%. The firm had revenue of $3.35 billion during the quarter, compared to the consensus estimate of $3.34 billion. During the same quarter in the previous year, the company posted $0.25 earnings per share. The company’s quarterly revenue was up 4.6% on a year-over-year basis. On average, research analysts anticipate that Nordstrom will post 1.94 earnings per share for the current fiscal year.

Nordstrom Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Tuesday, December 3rd were issued a dividend of $0.19 per share. The ex-dividend date of this dividend was Tuesday, December 3rd. This represents a $0.76 dividend on an annualized basis and a yield of 3.15%. Nordstrom’s dividend payout ratio (DPR) is presently 48.41%.

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.