Nordstrom (NYSE:JWN) Announces Earnings Results

Nordstrom (NYSE:JWN) issued its quarterly earnings results on Tuesday. The specialty retailer reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.25, Briefing.com reports. The company had revenue of $3.89 billion for the quarter, compared to analyst estimates of $3.88 billion. Nordstrom had a negative net margin of 1.35% and a negative return on equity of 26.45%. The business’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.84 earnings per share. Nordstrom updated its FY25 guidance to $1.75-2.05 EPS and its FY 2024 guidance to 1.750-2.050 EPS.

Nordstrom Stock Performance

Shares of JWN opened at $22.01 on Thursday. The company has a market capitalization of $3.60 billion, a price-to-earnings ratio of 12.03, a price-to-earnings-growth ratio of 2.55 and a beta of 2.62. Nordstrom has a 52-week low of $12.88 and a 52-week high of $24.03. The stock has a 50 day moving average price of $21.92 and a 200 day moving average price of $20.67. The company has a quick ratio of 0.36, a current ratio of 1.03 and a debt-to-equity ratio of 3.13.

Nordstrom Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Tuesday, September 3rd will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 3.45%. The ex-dividend date of this dividend is Tuesday, September 3rd. Nordstrom’s dividend payout ratio (DPR) is 41.53%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Bank of America upped their target price on shares of Nordstrom from $18.00 to $20.00 and gave the stock an “underperform” rating in a research note on Wednesday. Barclays upped their target price on shares of Nordstrom from $15.00 to $18.00 and gave the stock an “underweight” rating in a research note on Friday, May 31st. Evercore ISI upped their target price on shares of Nordstrom from $17.00 to $19.00 and gave the stock an “in-line” rating in a research note on Friday, May 31st. The Goldman Sachs Group upped their target price on shares of Nordstrom from $19.00 to $21.00 and gave the stock a “neutral” rating in a research note on Wednesday. Finally, JPMorgan Chase & Co. upped their target price on shares of Nordstrom from $19.00 to $20.00 and gave the stock an “underweight” rating in a research note on Wednesday. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Nordstrom presently has a consensus rating of “Hold” and a consensus price target of $19.85.

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.