Argus Downgrades Nordstrom (NYSE:JWN) to Sell

Argus cut shares of Nordstrom (NYSE:JWN) from a buy rating to a sell rating in a research report released on Monday, Marketbeat reports.

Other analysts also recently issued research reports about the stock. Barclays upgraded shares of Nordstrom from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $18.00 to $23.00 in a report on Thursday, September 5th. StockNews.com lowered shares of Nordstrom from a “strong-buy” rating to a “buy” rating in a research note on Thursday, December 5th. KeyCorp downgraded Nordstrom from an “overweight” rating to a “sector weight” rating in a research note on Thursday, September 26th. UBS Group raised their target price on Nordstrom from $13.00 to $14.50 and gave the stock a “sell” rating in a research report on Wednesday, November 27th. Finally, Evercore ISI upped their price target on Nordstrom from $20.00 to $22.00 and gave the company an “in-line” rating in a research report on Wednesday, November 27th. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $21.13.

Nordstrom Price Performance

Nordstrom stock opened at $24.11 on Monday. The company has a quick ratio of 0.35, a current ratio of 1.14 and a debt-to-equity ratio of 2.65. The stock has a market cap of $3.98 billion, a P/E ratio of 15.36 and a beta of 2.56. The company’s 50 day moving average price is $23.19 and its two-hundred day moving average price is $22.55. Nordstrom has a 52 week low of $16.63 and a 52 week high of $24.99.

Nordstrom (NYSE:JWN) last posted its quarterly earnings data on Tuesday, November 26th. The specialty retailer reported $0.33 earnings per share for the quarter, topping 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 business had revenue of $3.35 billion for the quarter, compared to analysts’ expectations of $3.34 billion. During the same quarter in the previous year, the firm earned $0.25 earnings per share. The business’s revenue was up 4.6% on a year-over-year basis. On average, equities analysts predict that Nordstrom will post 1.94 earnings per share for the current year.

Nordstrom Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Tuesday, December 3rd were paid a $0.19 dividend. The ex-dividend date of this dividend was Tuesday, December 3rd. This represents a $0.76 annualized dividend and a yield of 3.15%. Nordstrom’s dividend payout ratio is currently 48.41%.

Institutional Investors Weigh In On Nordstrom

Several hedge funds and other institutional investors have recently modified their holdings of JWN. State of Alaska Department of Revenue grew its stake in Nordstrom by 7.3% during the third quarter. State of Alaska Department of Revenue now owns 11,236 shares of the specialty retailer’s stock valued at $252,000 after acquiring an additional 760 shares in the last quarter. Stephens Inc. AR boosted its holdings in Nordstrom by 0.5% in the 3rd quarter. Stephens Inc. AR now owns 153,061 shares of the specialty retailer’s stock valued at $3,442,000 after purchasing an additional 805 shares during the period. CWM LLC grew its position in shares of Nordstrom by 28.7% during the 3rd quarter. CWM LLC now owns 3,628 shares of the specialty retailer’s stock valued at $82,000 after purchasing an additional 810 shares in the last quarter. Venturi Wealth Management LLC increased its holdings in shares of Nordstrom by 355.9% in the third quarter. Venturi Wealth Management LLC now owns 1,272 shares of the specialty retailer’s stock worth $29,000 after purchasing an additional 993 shares during the period. Finally, Caprock Group LLC raised its position in shares of Nordstrom by 9.1% in the third quarter. Caprock Group LLC now owns 11,931 shares of the specialty retailer’s stock worth $268,000 after buying an additional 1,000 shares in the last quarter. 88.73% of the stock is currently owned by institutional investors.

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.