Nordstrom (NYSE:JWN) Upgraded to “B-” by TheStreet

TheStreet upgraded shares of Nordstrom (NYSE:JWN) from a c+ rating to a b- rating in a research report report published on Friday, TheStreetRatingsTable reports.

Several other analysts also recently weighed in on the company. KeyCorp lowered their price objective on Nordstrom from $52.00 to $48.00 and set an overweight rating for the company in a research report on Thursday, August 22nd. Morgan Stanley dropped their price objective on Nordstrom from $40.00 to $33.00 and set an equal weight rating for the company in a research note on Friday, August 23rd. Wedbush raised their target price on shares of Nordstrom from $24.00 to $36.00 and gave the stock a neutral rating in a report on Wednesday, October 23rd. Credit Suisse Group reaffirmed a hold rating and issued a $33.00 target price on shares of Nordstrom in a research note on Sunday, November 24th. Finally, Guggenheim reiterated a hold rating on shares of Nordstrom in a report on Tuesday, October 22nd. Six investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and one has given a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus target price of $36.88.

Shares of JWN opened at $37.54 on Friday. Nordstrom has a fifty-two week low of $25.01 and a fifty-two week high of $53.77. The firm has a market cap of $5.91 billion, a price-to-earnings ratio of 10.57, a PEG ratio of 1.87 and a beta of 0.73. The firm has a 50 day moving average price of $36.73 and a 200-day moving average price of $32.84. The company has a debt-to-equity ratio of 5.37, a quick ratio of 0.26 and a current ratio of 0.90.

Nordstrom (NYSE:JWN) last released its earnings results on Thursday, November 21st. The specialty retailer reported $0.81 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.17. The company had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.67 billion. Nordstrom had a net margin of 3.57% and a return on equity of 70.45%. The firm’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.67 EPS. As a group, equities research analysts predict that Nordstrom will post 3.41 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be issued a dividend of $0.37 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.94%. Nordstrom’s dividend payout ratio is presently 41.69%.

Hedge funds have recently made changes to their positions in the stock. Knuff & Co LLC purchased a new position in shares of Nordstrom during the third quarter valued at about $27,000. Capital Investment Advisory Services LLC purchased a new stake in Nordstrom in the second quarter worth about $29,000. Resources Investment Advisors LLC. bought a new stake in Nordstrom during the 2nd quarter valued at approximately $35,000. Steward Partners Investment Advisory LLC bought a new stake in Nordstrom during the 2nd quarter valued at approximately $47,000. Finally, Edge Wealth Management LLC grew its holdings in shares of Nordstrom by 50.0% during the 3rd quarter. Edge Wealth Management LLC now owns 1,500 shares of the specialty retailer’s stock worth $50,000 after acquiring an additional 500 shares during the period. 66.06% of the stock is owned by institutional investors.

Nordstrom Company Profile

Nordstrom, Inc, a fashion retailer, provides apparel, shoes, cosmetics, and accessories 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 full-line stores and online store at Nordstrom.com; Nordstrom Rack stores; Nordstromrack.com and HauteLook; Jeffrey boutiques; clearance stores that operate under the Last Chance name; Trunk Club clubhouses and TrunkClub.com; and Nordstrom Locals.

Further Reading: What is the Ex-Dividend Date in Investing?

Analyst Recommendations for Nordstrom (NYSE:JWN)

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