Nordstrom, Inc. (NYSE:JWN) – Equities researchers at William Blair upped their Q1 2020 earnings per share (EPS) estimates for shares of Nordstrom in a research note issued to investors on Friday, November 16th. William Blair analyst D. Carden now forecasts that the specialty retailer will post earnings of $0.54 per share for the quarter, up from their previous forecast of $0.53.
Nordstrom (NYSE:JWN) last issued its earnings results on Thursday, November 15th. The specialty retailer reported $0.67 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.64 by $0.03. Nordstrom had a net margin of 2.92% and a return on equity of 51.66%. The company had revenue of $3.75 billion for the quarter, compared to analysts’ expectations of $3.68 billion.
NYSE:JWN opened at $51.26 on Monday. Nordstrom has a fifty-two week low of $40.37 and a fifty-two week high of $67.75. The stock has a market capitalization of $8.59 billion, a PE ratio of 17.32, a PEG ratio of 2.35 and a beta of 0.59. The company has a current ratio of 1.12, a quick ratio of 0.44 and a debt-to-equity ratio of 2.23.
Several institutional investors have recently made changes to their positions in the stock. Auxier Asset Management purchased a new position in shares of Nordstrom in the 3rd quarter valued at approximately $224,000. Csenge Advisory Group purchased a new position in Nordstrom during the 3rd quarter worth approximately $317,000. Nordea Investment Management AB raised its position in Nordstrom by 66.9% during the 3rd quarter. Nordea Investment Management AB now owns 7,105 shares of the specialty retailer’s stock worth $425,000 after buying an additional 2,849 shares during the last quarter. TIAA CREF Investment Management LLC raised its position in Nordstrom by 92.5% during the 3rd quarter. TIAA CREF Investment Management LLC now owns 1,358,979 shares of the specialty retailer’s stock worth $81,281,000 after buying an additional 653,173 shares during the last quarter. Finally, Neuberger Berman Group LLC raised its position in Nordstrom by 22.6% during the 3rd quarter. Neuberger Berman Group LLC now owns 355,713 shares of the specialty retailer’s stock worth $21,275,000 after buying an additional 65,603 shares during the last quarter. 56.32% of the stock is owned by hedge funds and other institutional investors.
In related news, VP Robert Sari sold 53,024 shares of the stock in a transaction that occurred on Monday, September 10th. The shares were sold at an average price of $65.72, for a total value of $3,484,737.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Christine Deputy sold 11,534 shares of the stock in a transaction that occurred on Monday, September 10th. The shares were sold at an average price of $65.87, for a total transaction of $759,744.58. Following the completion of the transaction, the insider now directly owns 76,463 shares of the company’s stock, valued at $5,036,617.81. The disclosure for this sale can be found here. Insiders sold a total of 200,604 shares of company stock valued at $12,621,378 over the last ninety days. 7.05% of the stock is currently owned by insiders.
Nordstrom declared that its board has initiated a share repurchase program on Wednesday, August 22nd that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the specialty retailer to purchase up to 14.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 11th. Investors of record on Monday, November 26th will be given a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 2.89%. The ex-dividend date of this dividend is Friday, November 23rd. Nordstrom’s payout ratio is currently 50.00%.
Nordstrom Company Profile
Nordstrom, Inc, a fashion retailer, provides apparel, shoes, cosmetics, and accessories for women, men, young adults, and children in the United States and Canada. The company operates in two segments, Retail and Credit. The Retail segment offers a range of brand name and private label merchandise through various channels, including Nordstrom branded full-line stores and online store at Nordstrom.com; Nordstrom Rack stores; Nordstromrack.com and HauteLook; Trunk Club clubhouses and TrunkClub.com; Jeffrey boutiques; and clearance stores that operate under the Last Chance name.
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