Nordstrom, Inc. (NYSE:JWN) to Issue Quarterly Dividend of $0.19

Nordstrom, Inc. (NYSE:JWN) announced a quarterly dividend on Wednesday, February 26th, RTT News reports. Investors of record on Tuesday, March 11th will be paid a dividend of 0.19 per share by the specialty retailer on Wednesday, March 26th. This represents a $0.76 annualized dividend and a yield of 3.12%.

Nordstrom has a payout ratio of 34.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Nordstrom to earn $2.01 per share next year, which means the company should continue to be able to cover its $0.76 annual dividend with an expected future payout ratio of 37.8%.

Nordstrom Stock Up 0.1 %

NYSE:JWN traded up $0.02 during trading hours on Wednesday, hitting $24.34. 1,077,292 shares of the company traded hands, compared to its average volume of 2,206,213. The company has a quick ratio of 0.35, a current ratio of 1.14 and a debt-to-equity ratio of 2.65. The company has a market cap of $4.02 billion, a PE ratio of 15.50 and a beta of 2.51. The firm’s 50-day simple moving average is $24.19 and its 200-day simple moving average is $23.21. Nordstrom has a one year low of $16.78 and a one year high of $24.99.

Nordstrom (NYSE:JWN) last released its earnings results 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 company had revenue of $3.35 billion during the quarter, compared to analyst estimates of $3.34 billion. During the same period in the prior year, the company posted $0.25 earnings per share. Nordstrom’s quarterly revenue was up 4.6% on a year-over-year basis. Equities analysts predict that Nordstrom will post 1.97 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on JWN. StockNews.com began coverage on shares of Nordstrom in a report on Wednesday, February 19th. They issued a “buy” rating on the stock. Telsey Advisory Group reissued a “market perform” rating and set a $24.00 target price on shares of Nordstrom in a research report on Tuesday. Evercore ISI lifted their price target on shares of Nordstrom from $22.00 to $24.00 and gave the stock an “in-line” rating in a report on Monday, January 13th. Bank of America increased their price objective on Nordstrom from $20.00 to $22.00 and gave the company an “underperform” rating in a report on Wednesday, November 27th. Finally, UBS Group raised Nordstrom from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $14.50 to $24.00 in a report on Friday, January 10th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $22.17.

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.