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

Shares of Nordstrom, Inc. (NYSE:JWN) have been assigned a consensus rating of “Reduce” from the twelve ratings firms that are covering the firm, MarketBeat Ratings reports. Five investment analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $17.42.

Several research firms recently weighed in on JWN. Jefferies Financial Group restated a “hold” rating and set a $17.00 price target (down previously from $18.00) on shares of Nordstrom in a research report on Thursday, March 7th. Telsey Advisory Group reissued a “market perform” rating and issued a $19.00 target price on shares of Nordstrom in a research report on Friday, May 31st. Bank of America upped their price target on Nordstrom from $15.00 to $18.00 and gave the company an “underperform” rating in a research report on Friday, May 31st. Barclays boosted their price objective on Nordstrom from $15.00 to $18.00 and gave the company an “underweight” rating in a research note on Friday, May 31st. Finally, Piper Sandler raised their price objective on shares of Nordstrom from $17.00 to $20.00 and gave the stock a “neutral” rating in a report on Wednesday, March 6th.

Nordstrom Price Performance

Shares of NYSE:JWN opened at $21.76 on Wednesday. Nordstrom has a twelve month low of $12.88 and a twelve month high of $23.54. The stock’s 50 day moving average is $20.50 and its 200-day moving average is $19.31. The company has a quick ratio of 0.36, a current ratio of 1.03 and a debt-to-equity ratio of 3.13. The firm has a market capitalization of $3.56 billion, a price-to-earnings ratio of 11.89, a PEG ratio of 2.41 and a beta of 2.58.

Nordstrom (NYSE:JWN) last released its quarterly earnings results on Thursday, May 30th. The specialty retailer reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.16). Nordstrom had a negative net margin of 1.35% and a negative return on equity of 26.45%. The company had revenue of $3.34 billion during the quarter, compared to analysts’ expectations of $3.19 billion. During the same period in the previous year, the company posted $0.07 earnings per share. The company’s quarterly revenue was up 4.8% compared to the same quarter last year. Sell-side analysts forecast that Nordstrom will post 1.79 EPS for the current fiscal year.

Nordstrom Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 19th. Shareholders of record on Tuesday, June 4th will be given a $0.19 dividend. The ex-dividend date is Tuesday, June 4th. This represents a $0.76 annualized dividend and a yield of 3.49%. Nordstrom’s payout ratio is currently 41.53%.

Institutional Investors Weigh In On Nordstrom

A number of large investors have recently modified their holdings of JWN. Vanguard Group Inc. raised its position in shares of Nordstrom by 5.7% in the 1st quarter. Vanguard Group Inc. now owns 10,653,007 shares of the specialty retailer’s stock worth $215,936,000 after purchasing an additional 579,001 shares during the last quarter. Cooper Creek Partners Management LLC increased its holdings in Nordstrom by 42.4% in the 3rd quarter. Cooper Creek Partners Management LLC now owns 3,908,377 shares of the specialty retailer’s stock worth $58,391,000 after buying an additional 1,163,437 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Nordstrom by 42.2% during the 4th quarter. Victory Capital Management Inc. now owns 3,288,612 shares of the specialty retailer’s stock valued at $60,675,000 after acquiring an additional 975,918 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Nordstrom by 64.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,829,662 shares of the specialty retailer’s stock worth $52,212,000 after purchasing an additional 1,104,604 shares during the last quarter. Finally, Schroder Investment Management Group lifted its holdings in shares of Nordstrom by 44.9% during the 4th quarter. Schroder Investment Management Group now owns 2,648,637 shares of the specialty retailer’s stock valued at $48,867,000 after buying an additional 820,390 shares during the period. 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.