Nordstrom (NYSE:JWN) Issues FY 2024 Earnings Guidance

Nordstrom (NYSE:JWN) updated its FY 2024 earnings guidance on Tuesday. The company provided EPS guidance of 1.750-2.050 for the period, compared to the consensus EPS estimate of 1.750. The company issued revenue guidance of $14.5 billion-$14.8 billion, compared to the consensus revenue estimate of $14.8 billion. Nordstrom also updated its FY25 guidance to $1.75-2.05 EPS.

Nordstrom Price Performance

Shares of JWN traded down $0.53 during mid-day trading on Tuesday, hitting $21.14. 5,609,119 shares of the company traded hands, 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. The stock has a market capitalization 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 business has a 50-day moving average of $21.92 and a 200 day moving average of $20.64. Nordstrom has a one year low of $12.88 and a one year high of $24.03.

Nordstrom (NYSE:JWN) last announced its quarterly earnings data on Tuesday, August 27th. The specialty retailer reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.25. The firm had revenue of $3.89 billion for the quarter, compared to analyst estimates of $3.88 billion. Nordstrom had a negative return on equity of 26.45% and a negative net margin of 1.35%. The business’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same period last year, the company earned $0.84 EPS. As a group, equities analysts expect that Nordstrom will post 1.79 earnings per share for the current fiscal year.

Nordstrom Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Tuesday, September 3rd will be given a dividend of $0.19 per share. The ex-dividend date of this dividend 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 presently 41.53%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Telsey Advisory Group reissued a market perform rating and set a $23.00 price target on shares of Nordstrom in a research note on Tuesday, August 20th. StockNews.com raised Nordstrom from a hold rating to a buy rating in a research note on Thursday, August 8th. Barclays lifted their price objective on Nordstrom from $15.00 to $18.00 and gave the stock an underweight rating in a research note on Friday, May 31st. Evercore ISI increased their target price on Nordstrom from $17.00 to $19.00 and gave the company an in-line rating in a research note on Friday, May 31st. Finally, JPMorgan Chase & Co. raised their target price on Nordstrom from $15.00 to $17.00 and gave the stock an underweight rating in a report on Friday, May 17th. Four analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Nordstrom has an average rating of Hold and an average price target 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.