Nordstrom, Inc. (JWN) Announces $0.37 Quarterly Dividend
Nordstrom, Inc. (NYSE:JWN) announced a quarterly dividend on Wednesday, August 16th, RTT News reports. Investors of record on Monday, August 28th will be paid a dividend of 0.37 per share by the specialty retailer on Tuesday, September 12th. This represents a $1.48 annualized dividend and a yield of 3.32%.
Nordstrom has increased its dividend payment by an average of 7.2% annually over the last three years. Nordstrom has a payout ratio of 49.5% meaning its dividend is sufficiently covered by earnings. Analysts expect Nordstrom to earn $3.05 per share next year, which means the company should continue to be able to cover its $1.48 annual dividend with an expected future payout ratio of 48.5%.
Shares of Nordstrom (JWN) traded down 0.18% during mid-day trading on Wednesday, reaching $44.58. 1,170,166 shares of the company traded hands. The stock has a market capitalization of $7.41 billion, a price-to-earnings ratio of 21.12 and a beta of 0.83. Nordstrom has a 52-week low of $39.53 and a 52-week high of $62.82. The company’s 50 day moving average is $47.15 and its 200 day moving average is $45.54.
Nordstrom (NYSE:JWN) last released its earnings results on Thursday, August 10th. The specialty retailer reported $0.65 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.03. Nordstrom had a return on equity of 71.57% and a net margin of 2.44%. The firm had revenue of $3.72 billion for the quarter, compared to the consensus estimate of $3.70 billion. During the same period in the prior year, the business posted $0.67 earnings per share. The firm’s revenue for the quarter was up 3.5% compared to the same quarter last year. On average, equities analysts forecast that Nordstrom will post $2.97 earnings per share for the current year.
JWN has been the topic of several recent analyst reports. Vetr downgraded Nordstrom from a “buy” rating to a “hold” rating and set a $43.99 target price on the stock. in a research report on Monday, May 29th. Piper Jaffray Companies set a $42.00 price objective on Nordstrom and gave the stock a “hold” rating in a report on Saturday, May 13th. Zacks Investment Research upgraded Nordstrom from a “hold” rating to a “buy” rating and set a $53.00 price objective on the stock in a report on Thursday, August 10th. Robert W. Baird set a $50.00 price objective on Nordstrom and gave the stock a “hold” rating in a report on Saturday, May 13th. Finally, BidaskClub downgraded Nordstrom from a “buy” rating to a “hold” rating in a report on Saturday. Four investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eight have issued a buy rating to the company’s stock. Nordstrom presently has a consensus rating of “Hold” and a consensus target price of $48.10.
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Nordstrom, Inc is a fashion specialty retailer in the United States. The Company’s segments include Retail and Credit. As of March 20, 2017, the Company operated 344 the United States stores located in 40 states as well as an e-commerce business. The Company also offers its customers a variety of payment products and services, including credit and debit cards.
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