Nordstrom (NYSE:JWN) Research Coverage Started at StockNews.com

StockNews.com started coverage on shares of Nordstrom (NYSE:JWN) in a research report sent to investors on Friday morning. The firm issued a buy rating on the specialty retailer’s stock.

Other equities research analysts have also issued reports about the stock. Citigroup boosted their target price on shares of Nordstrom from $22.00 to $23.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. Bank of America increased their price objective on Nordstrom from $20.00 to $22.00 and gave the company an “underperform” rating in a report on Wednesday, November 27th. Evercore ISI lifted their target price on Nordstrom from $20.00 to $22.00 and gave the stock an “in-line” rating in a report on Wednesday, November 27th. Argus lowered Nordstrom from a “buy” rating to a “sell” rating in a research report on Monday, December 30th. Finally, Telsey Advisory Group lowered their price objective on Nordstrom from $26.00 to $24.00 and set a “market perform” rating for the company in a research report on Tuesday, December 24th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Nordstrom currently has an average rating of “Hold” and an average target price of $21.92.

Nordstrom Stock Down 0.2 %

Shares of JWN opened at $24.03 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 52 week low of $16.78 and a 52 week high of $24.99. The stock has a market capitalization of $3.97 billion, a price-to-earnings ratio of 15.31 and a beta of 2.52. The stock has a fifty day moving average of $23.41 and a 200-day moving average of $22.72.

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

Nordstrom Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Tuesday, December 3rd were given a dividend of $0.19 per share. The ex-dividend date of this dividend was Tuesday, December 3rd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.16%. Nordstrom’s dividend payout ratio (DPR) is presently 48.41%.

Institutional Investors Weigh In On Nordstrom

Hedge funds and other institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. grew its position in Nordstrom by 29.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 388,796 shares of the specialty retailer’s stock valued at $8,744,000 after purchasing an additional 89,114 shares during the period. Franklin Resources Inc. lifted its stake in shares of Nordstrom by 29.9% in the third quarter. Franklin Resources Inc. now owns 50,294 shares of the specialty retailer’s stock valued at $1,152,000 after buying an additional 11,583 shares in the last quarter. Tidal Investments LLC grew its holdings in shares of Nordstrom by 47.8% during the third quarter. Tidal Investments LLC now owns 17,602 shares of the specialty retailer’s stock valued at $396,000 after buying an additional 5,690 shares during the last quarter. Sanctuary Advisors LLC increased its position in shares of Nordstrom by 160.9% during the third quarter. Sanctuary Advisors LLC now owns 51,071 shares of the specialty retailer’s stock worth $1,187,000 after acquiring an additional 31,498 shares in the last quarter. Finally, Virtu Financial LLC acquired a new stake in shares of Nordstrom in the 3rd quarter worth about $451,000. Institutional investors own 88.73% of the company’s stock.

Nordstrom Company Profile

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.