Nordstrom (NYSE:JWN) Announces Earnings Results

Nordstrom (NYSE:JWN) released its quarterly earnings data on Tuesday. The specialty retailer reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.25, Briefing.com reports. 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 1.35% and a negative return on equity of 26.45%. The company’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.84 EPS. Nordstrom updated its FY25 guidance to $1.75-2.05 EPS and its FY 2024 guidance to 1.750-2.050 EPS.

Nordstrom Trading Down 2.4 %

Shares of NYSE:JWN traded down $0.53 during midday trading on Tuesday, hitting $21.14. The company had a trading volume of 5,609,119 shares, compared to its average volume of 3,348,901. The company has a current ratio of 1.03, a quick ratio of 0.36 and a debt-to-equity ratio of 3.13. Nordstrom has a 12 month low of $12.88 and a 12 month high of $24.03. The stock has a market cap of $3.46 billion, a price-to-earnings ratio of 11.64, a PEG ratio of 2.55 and a beta of 2.62. The firm has a fifty day simple moving average of $21.92 and a 200 day simple moving average of $20.64.

Nordstrom Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Tuesday, September 3rd will be given a $0.19 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $0.76 dividend on an annualized basis and a yield of 3.60%. Nordstrom’s payout ratio is 41.53%.

Analysts Set New Price Targets

A number of research firms have weighed in on JWN. StockNews.com upgraded Nordstrom from a “hold” rating to a “buy” rating in a research report on Thursday, August 8th. Telsey Advisory Group reiterated a “market perform” rating and issued a $23.00 price objective on shares of Nordstrom in a research note on Tuesday, August 20th. Evercore ISI boosted 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. Barclays raised their price objective on Nordstrom from $15.00 to $18.00 and gave the company an “underweight” rating in a research note on Friday, May 31st. Finally, Bank of America lifted their target price on shares of Nordstrom from $15.00 to $18.00 and gave the stock an “underperform” rating in a report on Friday, May 31st. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $18.36.

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.