Nordstrom (NYSE:JWN) Updates FY 2024 Earnings Guidance

Nordstrom (NYSE:JWN) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 1.750-2.050 for the period, compared to the consensus estimate of 1.890. The company issued revenue guidance of $14.7 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 Stock Performance

Shares of JWN traded down $0.28 during mid-day trading on Tuesday, hitting $24.62. The company’s stock had a trading volume of 4,438,246 shares, compared to its average volume of 3,042,404. Nordstrom has a one year low of $14.65 and a one year high of $24.99. The stock’s 50-day moving average is $22.82 and its two-hundred day moving average is $22.20. The firm has a market capitalization of $4.04 billion, a PE ratio of 14.58 and a beta of 2.59. The company has a debt-to-equity ratio of 2.76, a quick ratio of 0.41 and a current ratio of 1.07.

Nordstrom (NYSE:JWN) last posted its quarterly earnings results on Tuesday, November 26th. The specialty retailer reported $0.33 EPS for the quarter, beating the consensus estimate of $0.22 by $0.11. The firm had revenue of $3.35 billion during the quarter, compared to analysts’ expectations of $3.34 billion. Nordstrom had a negative return on equity of 21.26% and a negative net margin of 1.44%. The company’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.25 EPS. As a group, sell-side analysts anticipate that Nordstrom will post 1.91 EPS for the current year.

Nordstrom Dividend Announcement

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 given a $0.19 dividend. 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 (DPR) is 44.44%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on JWN shares. Bank of America increased their target price on shares of Nordstrom from $18.00 to $20.00 and gave the stock an “underperform” rating in a research report on Wednesday, August 28th. StockNews.com raised Nordstrom from a “hold” rating to a “buy” rating in a report on Thursday, August 8th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $24.00 price target on shares of Nordstrom in a report on Wednesday, November 20th. The Goldman Sachs Group increased their target price on Nordstrom from $19.00 to $21.00 and gave the stock a “neutral” rating in a report on Wednesday, August 28th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Nordstrom from $19.00 to $20.00 and gave the company an “underweight” 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. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $20.58.

Insider Activity

In other Nordstrom news, COO Alexis Depree sold 20,000 shares of the stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $23.20, for a total value 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. This represents a 10.56 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 5.78% of the company’s stock.

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.