Nordstrom, Inc. (NYSE:JWN) Given Average Rating of “Reduce” by Brokerages

Nordstrom, Inc. (NYSE:JWN) has been given an average recommendation of “Reduce” by the fourteen ratings firms that are covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation and eleven have given a hold recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $22.17.

JWN has been the topic of a number of analyst reports. Evercore ISI lifted their target price on Nordstrom from $22.00 to $24.00 and gave the stock an “in-line” rating in a research report on Monday, January 13th. Bank of America lifted their target price on Nordstrom from $20.00 to $22.00 and gave the stock an “underperform” rating in a research report on Wednesday, November 27th. Barclays lifted their target price on Nordstrom from $23.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 16th. StockNews.com initiated coverage on Nordstrom in a research report on Thursday. They set a “buy” rating on the stock. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and set a $24.00 target price on shares of Nordstrom in a research report on Tuesday.

Nordstrom Trading Down 0.1 %

NYSE:JWN opened at $24.29 on Monday. The business’s 50-day moving average is $24.22 and its two-hundred day moving average is $23.25. The company has a debt-to-equity ratio of 2.65, a current ratio of 1.14 and a quick ratio of 0.35. Nordstrom has a 12 month low of $16.78 and a 12 month high of $24.99. The firm has a market capitalization of $4.01 billion, a PE ratio of 15.47 and a beta of 2.51.

Nordstrom (NYSE:JWN) last released its quarterly earnings data on Tuesday, November 26th. The specialty retailer reported $0.33 EPS for the quarter, beating the consensus estimate of $0.22 by $0.11. 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 analyst estimates of $3.34 billion. During the same period last year, the company posted $0.25 earnings per share. The firm’s revenue was up 4.6% compared to the same quarter last year. Research analysts predict that Nordstrom will post 1.97 earnings per share for the current fiscal year.

Nordstrom Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Tuesday, March 11th will be paid a $0.19 dividend. The ex-dividend date is Tuesday, March 11th. This represents a $0.76 dividend on an annualized basis and a yield of 3.13%. Nordstrom’s payout ratio is currently 48.41%.

Hedge Funds Weigh In On Nordstrom

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Venturi Wealth Management LLC boosted its stake in Nordstrom by 355.9% in the third quarter. Venturi Wealth Management LLC now owns 1,272 shares of the specialty retailer’s stock valued at $29,000 after acquiring an additional 993 shares during the period. Spire Wealth Management boosted its stake in Nordstrom by 90.9% in the fourth quarter. Spire Wealth Management now owns 2,100 shares of the specialty retailer’s stock valued at $51,000 after acquiring an additional 1,000 shares during the period. Wolverine Asset Management LLC acquired a new position in Nordstrom in the fourth quarter valued at approximately $63,000. Vestcor Inc acquired a new position in Nordstrom in the fourth quarter valued at approximately $63,000. Finally, Blue Trust Inc. boosted its stake in Nordstrom by 57.7% in the third quarter. Blue Trust Inc. now owns 3,839 shares of the specialty retailer’s stock valued at $81,000 after acquiring an additional 1,404 shares during the period. 88.73% of the stock is currently owned by institutional investors and hedge funds.

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.