Analysts Set Nordstrom, Inc. (NYSE:JWN) Price Target at $19.85

Shares of Nordstrom, Inc. (NYSE:JWN) have been given a consensus recommendation of “Reduce” by the thirteen analysts that are currently covering the company, Marketbeat Ratings reports. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $20.23.

A number of equities analysts have issued reports on JWN shares. Bank of America lifted their price objective on shares of Nordstrom from $18.00 to $20.00 and gave the stock an “underperform” rating in a report on Wednesday, August 28th. Barclays upgraded Nordstrom from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $18.00 to $23.00 in a research note on Thursday. Evercore ISI increased 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. BMO Capital Markets boosted their price target on shares of Nordstrom from $20.00 to $22.00 and gave the company a “market perform” rating in a research report on Wednesday, August 28th. Finally, TD Cowen boosted their price objective on Nordstrom from $24.00 to $25.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th.

Nordstrom Stock Up 1.0 %

Shares of NYSE JWN opened at $22.82 on Monday. The company has a debt-to-equity ratio of 2.76, a current ratio of 1.07 and a quick ratio of 0.36. The company has a 50-day moving average price of $22.10 and a 200-day moving average price of $20.79. The stock has a market capitalization of $3.73 billion, a P/E ratio of 12.47, a P/E/G ratio of 2.41 and a beta of 2.61. Nordstrom has a 1 year low of $12.88 and a 1 year high of $24.03.

Nordstrom (NYSE:JWN) last released its quarterly earnings results on Tuesday, August 27th. The specialty retailer reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.25. The business had revenue of $3.89 billion during the quarter, compared to the consensus estimate of $3.88 billion. Nordstrom had a negative return on equity of 21.26% and a negative net margin of 1.44%. The company’s quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.84 EPS. On average, equities research analysts forecast that Nordstrom will post 1.9 EPS for the current fiscal year.

Nordstrom Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Tuesday, September 3rd will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 3.33%. The ex-dividend date is Tuesday, September 3rd. Nordstrom’s dividend payout ratio is currently 41.53%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of JWN. Register Financial Advisors LLC bought a new position in shares of Nordstrom in the first quarter worth approximately $30,000. Atlas Capital Advisors LLC increased its position in shares of Nordstrom by 101.8% during the second quarter. Atlas Capital Advisors LLC now owns 1,491 shares of the specialty retailer’s stock valued at $32,000 after buying an additional 752 shares during the period. Rothschild Investment LLC bought a new position in shares of Nordstrom in the 2nd quarter worth approximately $39,000. Spire Wealth Management raised its holdings in Nordstrom by 100.0% in the first quarter. Spire Wealth Management now owns 2,200 shares of the specialty retailer’s stock worth $45,000 after purchasing an additional 1,100 shares in the last quarter. Finally, Blue Trust Inc. increased its stake in shares of Nordstrom by 10,045.8% in the 2nd quarter. Blue Trust Inc. now owns 2,435 shares of the specialty retailer’s stock worth $49,000 after acquiring an additional 2,411 shares in the last quarter. Hedge funds and other institutional investors own 88.73% of the company’s stock.

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.