Nordstrom (NYSE:JWN) Releases FY 2024 Earnings Guidance

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. KeyCorp cut shares of Nordstrom from an “overweight” rating to a “sector weight” rating in a research note on Thursday, September 26th. Telsey Advisory Group raised their target price on shares of Nordstrom from $24.00 to $26.00 and gave the company a “market perform” rating in a research report on Wednesday. The Goldman Sachs Group boosted their price target on shares of Nordstrom from $19.00 to $21.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 28th. Bank of America raised their price objective on Nordstrom from $20.00 to $22.00 and gave the company an “underperform” rating in a report on Wednesday. Finally, Evercore ISI upped their target price on Nordstrom from $20.00 to $22.00 and gave the stock an “in-line” rating in a report on Wednesday. Four equities research 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 company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $20.65.

Nordstrom Trading Down 8.1 %

Shares of Nordstrom stock opened at $22.62 on Thursday. Nordstrom has a 1 year low of $14.80 and a 1 year high of $24.99. The company has a market capitalization of $3.71 billion, a price-to-earnings ratio of 13.23 and a beta of 2.59. The business has a fifty day simple moving average of $22.86 and a two-hundred day simple moving average of $22.23. The company has a debt-to-equity ratio of 2.76, a current ratio of 1.07 and a quick ratio of 0.41.

Nordstrom (NYSE:JWN) last announced its earnings results on Tuesday, November 26th. The specialty retailer reported $0.33 EPS for the quarter, topping the consensus estimate of $0.22 by $0.11. The business had revenue of $3.35 billion during the quarter, compared to the consensus estimate of $3.34 billion. Nordstrom had a negative net margin of 1.44% and a negative return on equity of 21.26%. Nordstrom’s revenue was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.25 EPS. Research analysts forecast that Nordstrom will post 1.91 EPS for the current year.

Nordstrom Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Tuesday, December 3rd will be issued a dividend of $0.19 per share. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $0.76 annualized dividend and a yield of 3.36%. Nordstrom’s payout ratio is currently 44.44%.

Insider Buying and Selling at Nordstrom

In other news, COO Alexis Depree sold 20,000 shares of the business’s 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 completion of the sale, the chief operating officer now owns 169,331 shares of the company’s stock, valued at approximately $3,928,479.20. The trade was a 10.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 5.78% of the company’s stock.

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.