Nordstrom (NYSE:JWN) Issues FY 2024 Earnings Guidance

Nordstrom (NYSE:JWN) issued an update on its FY 2024 earnings guidance on Tuesday morning. 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

Nordstrom stock traded down $0.53 during midday trading on Tuesday, reaching $21.14. 5,609,119 shares of the company were exchanged, compared to its average volume of 3,348,901. The company has a market capitalization of $3.46 billion, a price-to-earnings ratio of 11.64, a P/E/G ratio of 2.55 and a beta of 2.62. The firm’s 50-day simple moving average is $21.92 and its 200-day simple moving average is $20.64. Nordstrom has a 1 year low of $12.88 and a 1 year high of $24.03. The company has a debt-to-equity ratio of 3.13, a quick ratio of 0.36 and a current ratio of 1.03.

Nordstrom (NYSE:JWN) last posted its quarterly earnings data on Tuesday, August 27th. The specialty retailer reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.25. The firm had revenue of $3.89 billion during the quarter, compared to analysts’ expectations of $3.88 billion. Nordstrom had a negative return on equity of 26.45% and a negative net margin of 1.35%. The firm’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.84 EPS. On average, analysts anticipate that Nordstrom will post 1.79 EPS for the current year.

Nordstrom Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Tuesday, September 3rd will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 3.60%. The ex-dividend date is Tuesday, September 3rd. Nordstrom’s dividend payout ratio (DPR) is 41.53%.

Wall Street Analysts Forecast Growth

JWN has been the subject of several recent analyst reports. Evercore ISI lifted their price target on Nordstrom from $17.00 to $19.00 and gave the company an in-line rating in a report on Friday, May 31st. Telsey Advisory Group restated a market perform rating and issued a $23.00 price target on shares of Nordstrom in a report on Tuesday, August 20th. Barclays lifted their price target on Nordstrom from $15.00 to $18.00 and gave the company an underweight rating in a report on Friday, May 31st. Bank of America lifted their price target on Nordstrom from $15.00 to $18.00 and gave the company an underperform rating in a report on Friday, May 31st. Finally, StockNews.com upgraded Nordstrom from a hold rating to a buy rating in a report on Thursday, August 8th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of Hold and a consensus price target of $18.36.

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.