Nordstrom (NYSE:JWN) Price Target Lowered to $24.00 at Telsey Advisory Group

Nordstrom (NYSE:JWN) had its price objective trimmed by Telsey Advisory Group from $26.00 to $24.00 in a report issued on Tuesday morning,Benzinga reports. The brokerage currently has a market perform rating on the specialty retailer’s stock.

A number of other research analysts have also recently commented on JWN. Barclays upgraded Nordstrom from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $18.00 to $23.00 in a research note on Thursday, September 5th. Evercore ISI increased their target price on Nordstrom from $20.00 to $22.00 and gave the stock an “in-line” rating in a research note on Wednesday, November 27th. The Goldman Sachs Group lifted their target price on Nordstrom from $19.00 to $21.00 and gave the company a “neutral” rating in a research report on Wednesday, August 28th. Bank of America increased their price target on shares of Nordstrom from $20.00 to $22.00 and gave the stock an “underperform” rating in a research report on Wednesday, November 27th. Finally, Citigroup lifted their price objective on shares of Nordstrom from $22.00 to $23.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $21.13.

Nordstrom Stock Up 0.0 %

Shares of JWN opened at $24.22 on Tuesday. The company’s 50-day moving average price is $23.20 and its 200 day moving average price is $22.48. Nordstrom has a 12-month low of $16.63 and a 12-month high of $24.99. The company has a current ratio of 1.14, a quick ratio of 0.35 and a debt-to-equity ratio of 2.65. The firm has a market cap of $3.99 billion, a P/E ratio of 15.43 and a beta of 2.56.

Nordstrom (NYSE:JWN) last released its quarterly 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. Nordstrom had a negative net margin of 1.57% and a negative return on equity of 18.04%. The business had revenue of $3.35 billion for the quarter, compared to the consensus estimate of $3.34 billion. During the same period in the previous year, the firm earned $0.25 EPS. The business’s revenue was up 4.6% on a year-over-year basis. On average, sell-side analysts forecast that Nordstrom will post 1.94 earnings per share for the current year.

Nordstrom Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Tuesday, December 3rd were issued a $0.19 dividend. The ex-dividend date was Tuesday, December 3rd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.14%. Nordstrom’s payout ratio is 48.41%.

Hedge Funds Weigh In On Nordstrom

Institutional investors and hedge funds have recently modified their holdings of the company. Venturi Wealth Management LLC raised its holdings in Nordstrom by 355.9% during the third quarter. Venturi Wealth Management LLC now owns 1,272 shares of the specialty retailer’s stock worth $29,000 after purchasing an additional 993 shares in the last quarter. Atlas Capital Advisors LLC boosted its stake in Nordstrom by 101.8% in the second quarter. Atlas Capital Advisors LLC now owns 1,491 shares of the specialty retailer’s stock valued at $32,000 after acquiring an additional 752 shares in the last quarter. Rothschild Investment LLC purchased a new position in shares of Nordstrom during the second quarter worth about $39,000. Point72 Hong Kong Ltd acquired a new stake in shares of Nordstrom during the second quarter worth about $71,000. Finally, Blue Trust Inc. increased its position in shares of Nordstrom by 57.7% during the third quarter. Blue Trust Inc. now owns 3,839 shares of the specialty retailer’s stock worth $81,000 after purchasing an additional 1,404 shares in the last quarter. Institutional investors and hedge funds 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.