Nordstrom, Inc. (NYSE:JWN) Receives Consensus Rating of “Reduce” from Analysts

Shares of Nordstrom, Inc. (NYSE:JWN) have been given a consensus rating of “Reduce” by the thirteen analysts that are presently covering the stock, Marketbeat Ratings reports. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $19.85.

JWN has been the topic of a number of analyst reports. StockNews.com upgraded Nordstrom from a “hold” rating to a “buy” rating in a research report on Thursday, August 8th. Evercore ISI increased their target price on shares of Nordstrom from $17.00 to $19.00 and gave the stock an “in-line” rating in a research report on Friday, May 31st. Bank of America boosted their price target on shares of Nordstrom from $18.00 to $20.00 and gave the company an “underperform” rating in a research report on Wednesday, August 28th. Telsey Advisory Group raised their price objective on shares of Nordstrom from $23.00 to $24.00 and gave the stock a “market perform” rating in a report on Wednesday, August 28th. Finally, TD Cowen boosted their target price on Nordstrom from $24.00 to $25.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th.

Nordstrom Trading Up 1.6 %

Shares of Nordstrom stock opened at $22.34 on Monday. The company’s fifty day moving average price is $21.95 and its two-hundred day moving average price is $20.71. The firm has a market capitalization of $3.66 billion, a PE ratio of 12.21, a price-to-earnings-growth ratio of 2.41 and a beta of 2.62. Nordstrom has a 52-week low of $12.88 and a 52-week high of $24.03. The company has a debt-to-equity ratio of 2.76, a current ratio of 1.07 and a quick ratio of 0.36.

Nordstrom (NYSE:JWN) last posted its earnings results on Tuesday, August 27th. The specialty retailer reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.25. The business had revenue of $3.89 billion for the quarter, compared to analysts’ expectations of $3.88 billion. Nordstrom had a negative net margin of 1.44% and a negative return on equity of 21.26%. The firm’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.84 earnings per share. On average, analysts expect that Nordstrom will post 1.9 EPS for the current year.

Nordstrom Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Tuesday, September 3rd will be paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 3.40%. The ex-dividend date of this dividend is Tuesday, September 3rd. Nordstrom’s dividend payout ratio (DPR) is presently 41.53%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Norges Bank acquired a new stake in shares of Nordstrom during the fourth quarter worth $23,572,000. Capstone Investment Advisors LLC increased its stake in shares of Nordstrom by 185.0% in the 1st quarter. Capstone Investment Advisors LLC now owns 211,471 shares of the specialty retailer’s stock valued at $4,287,000 after acquiring an additional 137,271 shares during the last quarter. Boulder Hill Capital Management LP acquired a new stake in shares of Nordstrom in the 4th quarter valued at approximately $2,065,000. Jump Financial LLC raised its position in shares of Nordstrom by 83.9% in the 4th quarter. Jump Financial LLC now owns 150,200 shares of the specialty retailer’s stock valued at $2,771,000 after acquiring an additional 68,529 shares during the period. Finally, Nomura Holdings Inc. boosted its stake in Nordstrom by 152.2% during the 4th quarter. Nomura Holdings Inc. now owns 169,604 shares of the specialty retailer’s stock worth $3,129,000 after acquiring an additional 102,361 shares during the last quarter. Institutional investors own 88.73% of the company’s stock.

About Nordstrom

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.