Nordstrom (NYSE:JWN) Issues Earnings Results

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

Nordstrom Trading Down 1.1 %

Shares of NYSE JWN traded down $0.28 during trading on Tuesday, hitting $24.62. 4,314,564 shares of the company traded hands, compared to its average volume of 3,041,560. The firm has a market capitalization of $4.04 billion, a P/E ratio of 14.58 and a beta of 2.59. The company has a quick ratio of 0.41, a current ratio of 1.07 and a debt-to-equity ratio of 2.76. The company has a 50-day moving average price of $22.82 and a 200-day moving average price of $22.20. Nordstrom has a 1 year low of $14.65 and a 1 year high of $24.99.

Nordstrom Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Tuesday, December 3rd will be paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date of this dividend is Tuesday, December 3rd. Nordstrom’s dividend payout ratio is currently 44.44%.

Insider Buying and Selling

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

Analysts Set New Price Targets

Several equities analysts have weighed in on JWN shares. BMO Capital Markets raised their target price on shares of Nordstrom from $20.00 to $22.00 and gave the company a “market perform” rating in a report on Wednesday, August 28th. StockNews.com raised shares of Nordstrom from a “hold” rating to a “buy” rating in a research note on Thursday, August 8th. TD Cowen upped their target price on Nordstrom from $24.00 to $25.00 and gave the company a “hold” rating in a research note on Wednesday, August 28th. Barclays raised Nordstrom from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $18.00 to $23.00 in a research report on Thursday, September 5th. Finally, Bank of America upped their price objective on Nordstrom from $18.00 to $20.00 and gave the company an “underperform” rating in a research report on Wednesday, August 28th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $20.58.

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.