Nordstrom (NYSE:JWN) Releases Earnings Results, Beats Estimates By $0.11 EPS

Nordstrom (NYSE:JWN) released its quarterly earnings data on Tuesday. The specialty retailer reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.11, Briefing.com reports. Nordstrom had a negative return on equity of 18.04% and a negative net margin of 1.57%. The firm had revenue of $3.35 billion during the quarter, compared to analysts’ expectations of $3.34 billion. During the same quarter last year, the firm earned $0.25 earnings per share. The business’s revenue for the quarter was up 4.6% on a year-over-year basis. Nordstrom updated its FY25 guidance to $1.75-2.05 EPS and its FY 2024 guidance to 1.750-2.050 EPS.

Nordstrom Price Performance

Shares of JWN stock opened at $22.62 on Friday. The company has a market capitalization of $3.71 billion, a P/E ratio of 14.41 and a beta of 2.59. The company has a current ratio of 1.14, a quick ratio of 0.41 and a debt-to-equity ratio of 2.65. Nordstrom has a 12 month low of $14.80 and a 12 month high of $24.99. The stock has a 50 day moving average of $22.85 and a two-hundred day moving average of $22.23.

Nordstrom Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Tuesday, December 3rd will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.36%. The ex-dividend date of this dividend is Tuesday, December 3rd. Nordstrom’s dividend payout ratio is currently 48.41%.

Insider Activity at Nordstrom

In other news, COO Alexis Depree sold 20,000 shares of the stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $23.20, for a total value of $464,000.00. Following the completion of the transaction, the chief operating officer now directly owns 169,331 shares of the company’s stock, valued at approximately $3,928,479.20. This represents a 10.56 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 5.78% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages recently commented on JWN. Telsey Advisory Group boosted their price target on Nordstrom from $24.00 to $26.00 and gave the company a “market perform” rating in a research note on Wednesday. Bank of America raised their price target on shares of Nordstrom from $20.00 to $22.00 and gave the company an “underperform” rating in a report on Wednesday. UBS Group lifted their price objective on shares of Nordstrom from $13.00 to $14.50 and gave the company a “sell” rating in a research note on Wednesday. StockNews.com upgraded Nordstrom from a “buy” rating to a “strong-buy” rating in a report on Wednesday. Finally, Evercore ISI boosted their price target on Nordstrom from $20.00 to $22.00 and gave the stock an “in-line” rating in a research report on Wednesday. Three 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’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $21.29.

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.