Nordstrom (NYSE:JWN – Get Rating) issued an update on its FY 2022 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $2.30-$2.60 for the period, compared to the consensus estimate of $2.34. The company issued revenue guidance of $15.12 billion-$15.41 billion, compared to the consensus revenue estimate of $15.61 billion.
Nordstrom Price Performance
Shares of JWN opened at $16.62 on Thursday. The company has a current ratio of 0.99, a quick ratio of 0.24 and a debt-to-equity ratio of 4.71. The firm has a market cap of $2.66 billion, a price-to-earnings ratio of 8.31, a PEG ratio of 0.39 and a beta of 2.14. Nordstrom has a 52 week low of $16.14 and a 52 week high of $29.59. The stock has a 50 day moving average of $19.59 and a 200-day moving average of $20.81.
Nordstrom (NYSE:JWN – Get Rating) last posted its quarterly earnings results on Tuesday, November 22nd. The specialty retailer reported $0.20 EPS for the quarter, beating the consensus estimate of $0.14 by $0.06. The business had revenue of $3.50 billion during the quarter, compared to analyst estimates of $3.49 billion. Nordstrom had a net margin of 2.08% and a return on equity of 58.09%. The company’s quarterly revenue was down 3.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.39 EPS. As a group, analysts forecast that Nordstrom will post 2.4 EPS for the current year.
Nordstrom Dividend Announcement
The business 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. The ex-dividend date of this dividend was Monday, November 28th. This represents a $0.76 dividend on an annualized basis and a yield of 4.57%. Nordstrom’s payout ratio is currently 38.00%.
Wall Street Analysts Forecast Growth
Several research firms have recently issued reports on JWN. Piper Sandler decreased their price objective on shares of Nordstrom from $28.00 to $26.00 and set an overweight rating for the company in a report on Wednesday, August 24th. JPMorgan Chase & Co. reduced their price objective on Nordstrom from $20.00 to $16.00 in a research note on Wednesday, December 7th. Morgan Stanley boosted their price objective on Nordstrom from $18.00 to $21.00 and gave the stock an underweight rating in a report on Monday, November 28th. Barclays lowered their price objective on shares of Nordstrom from $21.00 to $18.00 and set an underweight rating on the stock in a research report on Thursday, August 25th. Finally, Credit Suisse Group reduced their target price on Nordstrom from $21.00 to $20.00 and set a neutral rating for the company in a report on Wednesday, November 23rd. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Nordstrom currently has an average rating of Hold and an average target price of $22.57.
Hedge Funds Weigh In On Nordstrom
Hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. grew its holdings in shares of Nordstrom by 6.7% during the first quarter. JPMorgan Chase & Co. now owns 203,428 shares of the specialty retailer’s stock worth $5,515,000 after purchasing an additional 12,787 shares during the last quarter. Raymond James & Associates increased its stake in shares of Nordstrom by 13.4% in the 1st quarter. Raymond James & Associates now owns 106,379 shares of the specialty retailer’s stock valued at $2,884,000 after buying an additional 12,582 shares during the period. Raymond James Financial Services Advisors Inc. raised its position in shares of Nordstrom by 8.4% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 11,622 shares of the specialty retailer’s stock worth $315,000 after acquiring an additional 903 shares during the last quarter. American Century Companies Inc. boosted its holdings in Nordstrom by 27.1% in the first quarter. American Century Companies Inc. now owns 19,066 shares of the specialty retailer’s stock valued at $517,000 after acquiring an additional 4,063 shares during the last quarter. Finally, HighTower Advisors LLC boosted its holdings in Nordstrom by 0.8% in the first quarter. HighTower Advisors LLC now owns 58,656 shares of the specialty retailer’s stock valued at $1,592,000 after acquiring an additional 494 shares during the last quarter. 66.41% of the stock is owned by institutional investors and hedge funds.
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; TrunkClub.com; Nordstrom.ca; Nordstrom stores; Nordstrom Rack stores; Nordstrom Locals; Nordstromrack.com and HauteLook; clearance stores under the Last Chance name; Trunk Club clubhouses; and Jeffrey boutiques.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Nordstrom, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Nordstrom wasn’t on the list.
While Nordstrom currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.
Source: news.google.com
