Nordstrom, Inc. (NYSE:JWN) Receives Consensus Recommendation of “Reduce” from Brokerages

Shares of Nordstrom, Inc. (NYSE:JWN) have received a consensus rating of “Reduce” from the eleven ratings firms that are presently covering the company, MarketBeat reports. Five analysts have rated the stock with a sell recommendation, five have given a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $16.54.

A number of analysts have recently weighed in on JWN shares. Piper Sandler upped their price objective on Nordstrom from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 6th. Jefferies Financial Group reaffirmed a “hold” rating and set a $17.00 price objective (down previously from $18.00) on shares of Nordstrom in a research report on Thursday, March 7th. Bank of America upped their price objective on Nordstrom from $13.00 to $15.00 and gave the stock an “underperform” rating in a research report on Wednesday, March 6th. StockNews.com raised Nordstrom from a “hold” rating to a “buy” rating in a research report on Thursday, March 14th. Finally, Telsey Advisory Group reissued a “market perform” rating and issued a $19.00 target price on shares of Nordstrom in a report on Friday, April 19th.

Institutional Investors Weigh In On Nordstrom

Several hedge funds have recently made changes to their positions in JWN. AE Wealth Management LLC acquired a new stake in shares of Nordstrom during the third quarter worth about $168,000. Commonwealth Equity Services LLC boosted its stake in shares of Nordstrom by 14.1% during the third quarter. Commonwealth Equity Services LLC now owns 217,449 shares of the specialty retailer’s stock worth $3,249,000 after buying an additional 26,942 shares during the period. New York State Teachers Retirement System boosted its stake in shares of Nordstrom by 3.5% during the third quarter. New York State Teachers Retirement System now owns 129,235 shares of the specialty retailer’s stock worth $1,931,000 after buying an additional 4,389 shares during the period. Strs Ohio acquired a new stake in shares of Nordstrom during the third quarter worth about $718,000. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Nordstrom by 20.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 18,297 shares of the specialty retailer’s stock worth $273,000 after buying an additional 3,099 shares during the period. Institutional investors and hedge funds own 88.73% of the company’s stock.

Nordstrom Stock Up 1.6 %

NYSE:JWN opened at $19.43 on Tuesday. The company has a quick ratio of 0.41, a current ratio of 1.02 and a debt-to-equity ratio of 3.08. The stock’s fifty day moving average is $19.16 and its two-hundred day moving average is $17.60. Nordstrom has a 52 week low of $12.88 and a 52 week high of $23.53. The stock has a market capitalization of $3.17 billion, a price-to-earnings ratio of 24.29, a price-to-earnings-growth ratio of 2.17 and a beta of 2.59.

Nordstrom (NYSE:JWN) last posted its quarterly earnings data on Tuesday, March 5th. The specialty retailer reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.06. Nordstrom had a return on equity of 49.30% and a net margin of 0.91%. The business had revenue of $4.29 billion for the quarter, compared to analyst estimates of $4.38 billion. During the same quarter in the prior year, the company earned $0.74 earnings per share. The company’s revenue was up 2.2% on a year-over-year basis. Research analysts anticipate that Nordstrom will post 1.81 EPS for the current year.

Nordstrom Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Tuesday, March 12th were paid a $0.19 dividend. The ex-dividend date of this dividend was Monday, March 11th. This represents a $0.76 annualized dividend and a yield of 3.91%. Nordstrom’s dividend payout ratio is presently 95.00%.

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.