Nordstrom, Inc. (NYSE:JWN) Receives Consensus Recommendation of “Reduce” from Analysts

Shares of Nordstrom, Inc. (NYSE:JWN) have received an average rating of “Reduce” from the fourteen ratings firms that are currently covering the firm, MarketBeat.com reports. Four research analysts have rated the stock with a sell recommendation and ten have given a hold recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $21.13.

A number of equities analysts recently issued reports on JWN shares. Argus cut shares of Nordstrom from a “buy” rating to a “sell” rating in a research report on Monday, December 30th. Evercore ISI increased their price target on Nordstrom from $20.00 to $22.00 and gave the company an “in-line” rating in a research note on Wednesday, November 27th. Citigroup raised their price objective on Nordstrom from $22.00 to $23.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th. KeyCorp downgraded Nordstrom from an “overweight” rating to a “sector weight” rating in a research report on Thursday, September 26th. Finally, UBS Group boosted their price target on Nordstrom from $13.00 to $14.50 and gave the stock a “sell” rating in a report on Wednesday, November 27th.

Nordstrom Trading Down 0.0 %

Shares of JWN stock opened at $24.11 on Friday. The company has a debt-to-equity ratio of 2.65, a quick ratio of 0.35 and a current ratio of 1.14. Nordstrom has a fifty-two week low of $16.78 and a fifty-two week high of $24.99. The company has a market cap of $3.98 billion, a PE ratio of 15.36 and a beta of 2.52. The stock’s fifty day moving average price is $23.38 and its two-hundred day moving average price is $22.68.

Nordstrom (NYSE:JWN) last released its earnings results on Tuesday, November 26th. The specialty retailer reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.11. The firm had revenue of $3.35 billion for the quarter, compared to analysts’ expectations of $3.34 billion. Nordstrom had a negative return on equity of 18.04% and a negative net margin of 1.57%. The business’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.25 earnings per share. Equities analysts predict that Nordstrom will post 1.94 EPS for the current fiscal year.

Nordstrom Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Tuesday, December 3rd were paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.15%. The ex-dividend date of this dividend was Tuesday, December 3rd. Nordstrom’s dividend payout ratio is currently 48.41%.

Hedge Funds Weigh In On Nordstrom

Hedge funds have recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Nordstrom by 11.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,790 shares of the specialty retailer’s stock worth $462,000 after acquiring an additional 2,244 shares during the period. Commonwealth Equity Services LLC grew its stake in Nordstrom by 0.9% during the second quarter. Commonwealth Equity Services LLC now owns 200,708 shares of the specialty retailer’s stock worth $4,259,000 after purchasing an additional 1,709 shares during the period. Victory Capital Management Inc. increased its holdings in Nordstrom by 1.7% in the second quarter. Victory Capital Management Inc. now owns 3,371,988 shares of the specialty retailer’s stock worth $71,554,000 after purchasing an additional 57,546 shares in the last quarter. Texas Permanent School Fund Corp lifted its stake in Nordstrom by 13.6% in the second quarter. Texas Permanent School Fund Corp now owns 96,618 shares of the specialty retailer’s stock valued at $2,050,000 after buying an additional 11,577 shares during the period. Finally, State of New Jersey Common Pension Fund D bought a new position in shares of Nordstrom during the 2nd quarter worth approximately $1,835,000. Institutional investors own 88.73% 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.