Nordstrom (NYSE:JWN) Updates FY Earnings Guidance

Nordstrom (NYSE:JWNGet Rating) issued an update on its FY earnings guidance on Sunday morning. The company provided earnings per share (EPS) guidance of $1.50-$1.70 for the period, compared to the consensus estimate of $2.36. The company issued revenue guidance of $15.12 billion-$15.12 billion, compared to the consensus revenue estimate of $15.64 billion.

Wall Street Analyst Weigh In

Several brokerages have recently commented on JWN. Morgan Stanley increased their target price on Nordstrom from $18.00 to $21.00 and gave the stock an underweight rating in a report on Monday, November 28th. Gordon Haskett lowered shares of Nordstrom from a hold rating to a reduce rating and decreased their price objective for the stock from $20.00 to $13.00 in a report on Friday. Citigroup reduced their target price on shares of Nordstrom from $21.00 to $17.00 and set a neutral rating on the stock in a research report on Friday. JPMorgan Chase & Co. lowered their price target on shares of Nordstrom from $15.00 to $13.00 and set an underweight rating for the company in a report on Friday. Finally, BMO Capital Markets dropped their price objective on shares of Nordstrom from $23.00 to $20.00 and set a market perform rating for the company in a research report on Friday. Five equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of Hold and a consensus price target of $18.75.

Nordstrom Stock Performance

JWN stock opened at $17.47 on Monday. Nordstrom has a twelve month low of $15.52 and a twelve month high of $29.59. The company has a quick ratio of 0.24, a current ratio of 0.99 and a debt-to-equity ratio of 4.71. The company has a market cap of $2.80 billion, a P/E ratio of 8.74, a price-to-earnings-growth ratio of 0.62 and a beta of 2.17. The business’s fifty day moving average is $18.29 and its 200-day moving average is $19.67.

Nordstrom (NYSE:JWNGet Rating) last released its quarterly earnings data on Tuesday, November 22nd. The specialty retailer reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.06. Nordstrom had a return on equity of 58.09% and a net margin of 2.08%. The business had revenue of $3.50 billion during the quarter, compared to the consensus estimate of $3.49 billion. During the same quarter in the prior year, the company posted $0.39 earnings per share. The firm’s revenue was down 3.8% on a year-over-year basis. Equities research analysts forecast that Nordstrom will post 1.6 EPS for the current year.

Nordstrom Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 14th. Investors of record on Tuesday, November 29th were paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 4.35%. The ex-dividend date of this dividend was Monday, November 28th. Nordstrom’s payout ratio is 38.00%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of JWN. Teachers Retirement System of The State of Kentucky bought a new position in shares of Nordstrom during the third quarter worth $300,000. Baird Financial Group Inc. lifted its holdings in Nordstrom by 105.0% during the third quarter. Baird Financial Group Inc. now owns 350,868 shares of the specialty retailer’s stock worth $5,870,000 after acquiring an additional 179,729 shares in the last quarter. BNP Paribas Arbitrage SNC lifted its holdings in Nordstrom by 254.4% during the third quarter. BNP Paribas Arbitrage SNC now owns 929,281 shares of the specialty retailer’s stock worth $15,547,000 after acquiring an additional 667,033 shares in the last quarter. State Street Corp grew its stake in Nordstrom by 3.0% in the third quarter. State Street Corp now owns 4,383,492 shares of the specialty retailer’s stock valued at $73,336,000 after acquiring an additional 125,909 shares during the period. Finally, Algert Global LLC bought a new stake in shares of Nordstrom in the third quarter worth about $354,000. Institutional investors and hedge funds own 66.41% of the company’s stock.

About Nordstrom

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Nordstrom, Inc engages in the manufacture and trade of clothes, shoes, and accessories. It operates through the following segments: Retail and Corporate/Other. The Retail segment consists of a selection of high-quality, brand-name, and private label merchandise, which includes apparel, shoes, cosmetics, and accessories for women, men, young adults, and children.

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Earnings History and Estimates for Nordstrom (NYSE:JWN)

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