Nordstrom (NYSE:JWN) Cut to “Sell” at Argus

Argus lowered shares of Nordstrom (NYSE:JWN) from a buy rating to a sell rating in a research report sent to investors on Monday morning, Marketbeat reports.

Several other analysts also recently weighed in on the company. Evercore ISI upped their price target on Nordstrom from $20.00 to $22.00 and gave the stock an “in-line” rating in a research note on Wednesday, November 27th. StockNews.com cut Nordstrom from a “strong-buy” rating to a “buy” rating in a research note on Thursday, December 5th. KeyCorp downgraded Nordstrom from an “overweight” rating to a “sector weight” rating in a report on Thursday, September 26th. Citigroup upped their price target 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, UBS Group raised their price objective on shares of Nordstrom from $13.00 to $14.50 and gave the company a “sell” rating in a research note on Wednesday, November 27th. Four analysts have rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Nordstrom currently has an average rating of “Hold” and a consensus target price of $21.13.

Nordstrom Price Performance

Shares of JWN stock opened at $24.15 on Monday. The business’s fifty day moving average is $23.24 and its 200 day moving average is $22.58. 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 stock has a market cap of $3.99 billion, a price-to-earnings ratio of 15.38 and a beta of 2.56. Nordstrom has a twelve month low of $16.63 and a twelve month high of $24.99.

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

Nordstrom Dividend Announcement

The company 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 was Tuesday, December 3rd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.15%. Nordstrom’s dividend payout ratio is currently 48.41%.

Institutional Investors Weigh In On Nordstrom

A number of hedge funds have recently modified their holdings of JWN. Raymond James & Associates grew its stake in shares of Nordstrom by 2.0% during the 2nd quarter. Raymond James & Associates now owns 91,157 shares of the specialty retailer’s stock valued at $1,934,000 after acquiring an additional 1,747 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Nordstrom by 11.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,790 shares of the specialty retailer’s stock valued at $462,000 after purchasing an additional 2,244 shares during the period. Rothschild Investment LLC purchased a new position in shares of Nordstrom during the 2nd quarter valued at $39,000. Commonwealth Equity Services LLC boosted its holdings in Nordstrom by 0.9% in the 2nd quarter. Commonwealth Equity Services LLC now owns 200,708 shares of the specialty retailer’s stock worth $4,259,000 after buying an additional 1,709 shares during the period. Finally, Victory Capital Management Inc. raised its holdings in Nordstrom by 1.7% during the second quarter. Victory Capital Management Inc. now owns 3,371,988 shares of the specialty retailer’s stock valued at $71,554,000 after acquiring an additional 57,546 shares during the period. 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.