Nordstrom (NYSE:JWN) Upgraded to “Buy” at StockNews.com

StockNews.com upgraded shares of Nordstrom (NYSE:JWN) from a hold rating to a buy rating in a research note published on Wednesday.

Several other brokerages have also weighed in on JWN. Piper Sandler lifted their price target on Nordstrom from $17.00 to $20.00 and gave the company a neutral rating in a research note on Wednesday, March 6th. Barclays increased their price target on Nordstrom from $15.00 to $18.00 and gave the stock an underweight rating in a report on Friday, May 31st. The Goldman Sachs Group lifted their target price on shares of Nordstrom from $16.00 to $18.00 and gave the company a neutral rating in a report on Wednesday, March 6th. Telsey Advisory Group reiterated a market perform rating and set a $19.00 price target on shares of Nordstrom in a research note on Friday, May 31st. Finally, JPMorgan Chase & Co. upped their price objective on Nordstrom from $15.00 to $17.00 and gave the stock an underweight rating in a research report on Friday, May 17th. Five equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Nordstrom has an average rating of Hold and an average target price of $17.42.

Nordstrom Stock Up 0.7 %

Shares of NYSE JWN opened at $21.60 on Wednesday. The company has a current ratio of 1.03, a quick ratio of 0.36 and a debt-to-equity ratio of 3.13. The stock has a market capitalization of $3.53 billion, a PE ratio of 11.80, a price-to-earnings-growth ratio of 2.43 and a beta of 2.62. The stock’s fifty day simple moving average is $21.05 and its two-hundred day simple moving average is $19.65. Nordstrom has a 12-month low of $12.88 and a 12-month high of $23.54.

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

Nordstrom Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 19th. Investors of record on Tuesday, June 4th were issued a $0.19 dividend. The ex-dividend date of this dividend was Tuesday, June 4th. This represents a $0.76 annualized dividend and a yield of 3.52%. Nordstrom’s dividend payout ratio is currently 41.53%.

Institutional Trading of Nordstrom

Large investors have recently modified their holdings of the business. CANADA LIFE ASSURANCE Co lifted its position in shares of Nordstrom by 0.6% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 90,144 shares of the specialty retailer’s stock worth $1,828,000 after buying an additional 520 shares in the last quarter. State of Michigan Retirement System lifted its position in shares of Nordstrom by 2.6% during the 1st quarter. State of Michigan Retirement System now owns 23,908 shares of the specialty retailer’s stock worth $485,000 after buying an additional 600 shares in the last quarter. Personal CFO Solutions LLC lifted its position in shares of Nordstrom by 5.7% during the 4th quarter. Personal CFO Solutions LLC now owns 11,882 shares of the specialty retailer’s stock worth $219,000 after buying an additional 636 shares in the last quarter. Hexagon Capital Partners LLC lifted its position in shares of Nordstrom by 33.1% during the 1st quarter. Hexagon Capital Partners LLC now owns 2,648 shares of the specialty retailer’s stock worth $54,000 after buying an additional 659 shares in the last quarter. Finally, Louisiana State Employees Retirement System lifted its position in shares of Nordstrom by 2.9% during the 1st quarter. Louisiana State Employees Retirement System now owns 28,000 shares of the specialty retailer’s stock worth $568,000 after buying an additional 800 shares in the last quarter. 88.73% of the stock is currently owned by institutional investors and hedge funds.

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.