Nordstrom (NYSE:JWN) Earns Buy Rating from Analysts at StockNews.com

StockNews.com began coverage on shares of Nordstrom (NYSE:JWN) in a research report report published on Sunday morning. The brokerage issued a buy rating on the specialty retailer’s stock.

A number of other brokerages have also recently weighed in on JWN. Evercore ISI increased their price target on Nordstrom from $22.00 to $24.00 and gave the stock an “in-line” rating in a research report on Monday, January 13th. Barclays increased their price target on Nordstrom from $23.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 16th. Telsey Advisory Group reiterated a “market perform” rating and set a $24.00 price target on shares of Nordstrom in a research report on Monday, January 13th. Argus lowered Nordstrom from a “buy” rating to a “sell” rating in a report on Monday, December 30th. Finally, Bank of America increased their price objective on Nordstrom from $20.00 to $22.00 and gave the stock an “underperform” rating in a report on Wednesday, November 27th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, Nordstrom has a consensus rating of “Hold” and a consensus price target of $22.17.

Nordstrom Trading Up 0.2 %

Shares of JWN opened at $24.24 on Friday. The company has a market capitalization of $4.00 billion, a P/E ratio of 15.44 and a beta of 2.52. Nordstrom has a one year low of $16.78 and a one year high of $24.99. The company has a debt-to-equity ratio of 2.65, a quick ratio of 0.35 and a current ratio of 1.14. The stock has a 50-day moving average price of $23.71 and a 200 day moving average price of $22.91.

Nordstrom (NYSE:JWN) last announced its quarterly earnings data on Tuesday, November 26th. The specialty retailer reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.11. Nordstrom had a negative return on equity of 18.04% and a negative net margin of 1.57%. The firm had revenue of $3.35 billion for the quarter, compared to analysts’ expectations of $3.34 billion. During the same quarter in the prior year, the firm posted $0.25 earnings per share. Nordstrom’s revenue for the quarter was up 4.6% compared to the same quarter last year. Sell-side analysts forecast that Nordstrom will post 1.97 EPS for the current fiscal year.

Nordstrom Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Tuesday, December 3rd were issued a $0.19 dividend. The ex-dividend date of this dividend was Tuesday, December 3rd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.14%. Nordstrom’s payout ratio is currently 48.41%.

Institutional Trading of Nordstrom

Several hedge funds and other institutional investors have recently modified their holdings of the company. Hennessy Advisors Inc. bought a new position in Nordstrom during the fourth quarter valued at about $56,026,000. Geode Capital Management LLC grew its position in shares of Nordstrom by 0.3% in the third quarter. Geode Capital Management LLC now owns 1,625,616 shares of the specialty retailer’s stock valued at $36,570,000 after purchasing an additional 5,407 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Nordstrom by 17.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,422,856 shares of the specialty retailer’s stock valued at $32,000,000 after purchasing an additional 208,193 shares during the last quarter. Verition Fund Management LLC grew its position in shares of Nordstrom by 147.4% in the third quarter. Verition Fund Management LLC now owns 1,218,365 shares of the specialty retailer’s stock valued at $27,401,000 after purchasing an additional 725,803 shares during the last quarter. Finally, Axiom Advisory LLC grew its position in shares of Nordstrom by 46.0% in the third quarter. Axiom Advisory LLC now owns 1,100,864 shares of the specialty retailer’s stock valued at $24,456,000 after purchasing an additional 346,994 shares during the last quarter. 88.73% of the stock is currently owned by hedge funds and other institutional investors.

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.