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

Nordstrom, Inc. (NYSE:JWN) has earned a consensus recommendation of “Reduce” from the fourteen research firms that are presently covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a sell recommendation and eleven have issued a hold recommendation on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $21.92.

JWN has been the topic of a number of research analyst reports. Argus cut shares of Nordstrom from a “buy” rating to a “sell” rating in a research note on Monday, December 30th. StockNews.com assumed coverage on shares of Nordstrom in a research note on Friday. They set a “buy” rating on the stock. Bank of America lifted their target price on shares of Nordstrom from $20.00 to $22.00 and gave the stock an “underperform” rating in a research note on Wednesday, November 27th. Citigroup lifted their target price on shares of Nordstrom from $22.00 to $23.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. Finally, KeyCorp cut shares of Nordstrom from an “overweight” rating to a “sector weight” rating in a research note on Thursday, September 26th.

Institutional Trading of Nordstrom

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Victory Capital Management Inc. increased its stake in shares of Nordstrom by 1.7% during the second quarter. Victory Capital Management Inc. now owns 3,371,988 shares of the specialty retailer’s stock worth $71,554,000 after buying an additional 57,546 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Nordstrom by 4.6% during the second quarter. Dimensional Fund Advisors LP now owns 3,136,639 shares of the specialty retailer’s stock worth $66,557,000 after buying an additional 137,094 shares during the period. American Century Companies Inc. increased its stake in shares of Nordstrom by 66.2% during the second quarter. American Century Companies Inc. now owns 1,661,227 shares of the specialty retailer’s stock worth $35,251,000 after buying an additional 661,769 shares during the period. Geode Capital Management LLC increased its stake in shares of Nordstrom by 0.3% during the third quarter. Geode Capital Management LLC now owns 1,625,616 shares of the specialty retailer’s stock worth $36,570,000 after buying an additional 5,407 shares during the period. Finally, Marshall Wace LLP increased its stake in shares of Nordstrom by 38.4% during the second quarter. Marshall Wace LLP now owns 1,479,414 shares of the specialty retailer’s stock worth $31,393,000 after buying an additional 410,152 shares during the period. 88.73% of the stock is currently owned by hedge funds and other institutional investors.

Nordstrom Stock Performance

JWN opened at $24.03 on Friday. Nordstrom has a 12-month low of $16.78 and a 12-month high of $24.99. The company has a current ratio of 1.14, a quick ratio of 0.35 and a debt-to-equity ratio of 2.65. The firm has a market capitalization of $3.97 billion, a PE ratio of 15.31 and a beta of 2.52. The firm has a 50 day moving average of $23.41 and a two-hundred day moving average of $22.71.

Nordstrom (NYSE:JWN) last posted its quarterly earnings results on Tuesday, November 26th. The specialty retailer reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.11. The company had revenue of $3.35 billion during the quarter, compared to analyst estimates of $3.34 billion. Nordstrom had a negative net margin of 1.57% and a negative return on equity of 18.04%. Nordstrom’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same period last year, the firm posted $0.25 EPS. On average, analysts anticipate that Nordstrom will post 1.94 EPS for the current year.

Nordstrom Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Tuesday, December 3rd were paid a dividend of $0.19 per share. The ex-dividend date of this dividend was Tuesday, December 3rd. This represents a $0.76 dividend on an annualized basis and a yield of 3.16%. Nordstrom’s dividend payout ratio (DPR) is presently 48.41%.

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.