Nordstrom (NYSE:JWN) Announces Earnings Results

Nordstrom (NYSE:JWN) announced its earnings results on Tuesday. The specialty retailer reported $0.33 EPS for the quarter, topping the consensus estimate of $0.22 by $0.11, Briefing.com reports. Nordstrom had a negative return on equity of 18.04% and a negative net margin of 1.57%. The company had revenue of $3.35 billion for the quarter, compared to analysts’ expectations of $3.34 billion. During the same quarter in the prior year, the business earned $0.25 earnings per share. The business’s revenue for the quarter was up 4.6% on a year-over-year basis. Nordstrom updated its FY25 guidance to $1.75-2.05 EPS and its FY 2024 guidance to 1.750-2.050 EPS.

Nordstrom Price Performance

Shares of NYSE:JWN opened at $22.62 on Friday. The firm has a 50 day moving average of $22.85 and a 200-day moving average of $22.23. Nordstrom has a 12 month low of $14.80 and a 12 month high of $24.99. The company has a current ratio of 1.14, a quick ratio of 0.41 and a debt-to-equity ratio of 2.65. The stock has a market capitalization of $3.71 billion, a PE ratio of 14.41 and a beta of 2.59.

Nordstrom Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Tuesday, December 3rd will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 3.36%. The ex-dividend date of this dividend is Tuesday, December 3rd. Nordstrom’s dividend payout ratio is currently 48.41%.

Analysts Set New Price Targets

Several research firms have recently commented on JWN. Evercore ISI lifted their target price on Nordstrom from $20.00 to $22.00 and gave the company an “in-line” rating in a research note on Wednesday. Telsey Advisory Group raised their price objective on Nordstrom from $24.00 to $26.00 and gave the stock a “market perform” rating in a research note on Wednesday. StockNews.com raised Nordstrom from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. JPMorgan Chase & Co. boosted their price objective on Nordstrom from $19.00 to $20.00 and gave the company an “underweight” rating in a research report on Wednesday, August 28th. Finally, Citigroup raised their target price on shares of Nordstrom from $22.00 to $23.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $21.29.

Insider Buying and Selling

In other Nordstrom news, COO Alexis Depree sold 20,000 shares of the company’s stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $23.20, for a total transaction of $464,000.00. Following the completion of the sale, the chief operating officer now directly owns 169,331 shares in the company, valued at $3,928,479.20. This represents a 10.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 5.78% of the stock is currently owned by company insiders.

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.