Nordstrom (NYSE:JWN) Releases Quarterly Earnings Results, Beats Estimates By $0.11 EPS

Nordstrom (NYSE:JWN) released its quarterly earnings data on Tuesday. The specialty retailer reported $0.33 EPS for the quarter, beating the consensus estimate of $0.22 by $0.11, Briefing.com reports. Nordstrom had a negative return on equity of 21.26% and a negative net margin of 1.44%. The company had revenue of $3.35 billion for the quarter, compared to analysts’ expectations of $3.34 billion. During the same period last year, the firm posted $0.25 earnings per share. Nordstrom’s revenue was up 4.6% compared to the same quarter last year. Nordstrom updated its FY25 guidance to $1.75-2.05 EPS and its FY 2024 guidance to 1.750-2.050 EPS.

Nordstrom Trading Down 8.1 %

JWN stock opened at $22.62 on Thursday. The company has a market capitalization of $3.71 billion, a PE ratio of 13.23 and a beta of 2.59. The company has a debt-to-equity ratio of 2.76, a current ratio of 1.07 and a quick ratio of 0.41. Nordstrom has a 12 month low of $14.80 and a 12 month high of $24.99. The firm’s 50-day moving average is $22.86 and its 200 day moving average is $22.23.

Nordstrom Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Tuesday, December 3rd will be issued a $0.19 dividend. The ex-dividend date is Tuesday, December 3rd. This represents a $0.76 annualized dividend and a dividend yield of 3.36%. Nordstrom’s payout ratio is 44.44%.

Insider Activity

In other Nordstrom news, COO Alexis Depree sold 20,000 shares of the company’s stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $23.20, for a total transaction of $464,000.00. Following the completion of the sale, the chief operating officer now owns 169,331 shares in the company, valued at $3,928,479.20. This represents a 10.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 5.78% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on JWN shares. Telsey Advisory Group lifted their price target on shares of Nordstrom from $24.00 to $26.00 and gave the stock a “market perform” rating in a research note on Wednesday. Barclays raised shares of Nordstrom from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $18.00 to $23.00 in a research report on Thursday, September 5th. The Goldman Sachs Group increased their price target on Nordstrom from $19.00 to $21.00 and gave the company a “neutral” rating in a report on Wednesday, August 28th. TD Cowen lifted their price objective on Nordstrom from $24.00 to $25.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Finally, UBS Group raised their target price on Nordstrom from $13.00 to $14.50 and gave the stock a “sell” rating in a research report on Wednesday. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $20.65.

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.