Nordstrom, Inc. (NYSE:JWN) Receives $21.13 Consensus Target Price from Analysts

Shares of Nordstrom, Inc. (NYSE:JWN) have earned a consensus recommendation of “Reduce” from the fourteen research firms that are currently covering the company, MarketBeat reports. Three investment analysts have rated the stock with a sell recommendation and eleven have assigned a hold recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $21.92.

Several research firms have recently weighed in on JWN. UBS Group raised Nordstrom from a “sell” rating to a “neutral” rating and increased their price objective for the company from $14.50 to $24.00 in a report on Friday. Bank of America increased their price target on shares of Nordstrom from $20.00 to $22.00 and gave the stock an “underperform” rating in a report on Wednesday, November 27th. Citigroup lifted their price objective on Nordstrom from $22.00 to $23.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th. KeyCorp cut Nordstrom from an “overweight” rating to a “sector weight” rating in a research report on Thursday, September 26th. Finally, StockNews.com initiated coverage on Nordstrom in a report on Friday. They issued a “buy” rating for the company.

Nordstrom Stock Performance

Shares of JWN opened at $24.03 on Friday. The stock has a 50 day moving average price of $23.41 and a 200 day moving average price of $22.71. 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 capitalization of $3.97 billion, a price-to-earnings ratio of 15.31 and a beta of 2.52. Nordstrom has a 52-week low of $16.78 and a 52-week high of $24.99.

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

Nordstrom Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Tuesday, December 3rd were given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 3.16%. The ex-dividend date of this dividend was Tuesday, December 3rd. Nordstrom’s payout ratio is 48.41%.

Hedge Funds Weigh In On Nordstrom

Several hedge funds have recently bought and sold shares of the stock. 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 period. American Century Companies Inc. grew its position in shares of Nordstrom by 66.2% in the second quarter. American Century Companies Inc. now owns 1,661,227 shares of the specialty retailer’s stock valued at $35,251,000 after purchasing an additional 661,769 shares during the period. Marshall Wace LLP grew its position in shares of Nordstrom by 38.4% in the second quarter. Marshall Wace LLP now owns 1,479,414 shares of the specialty retailer’s stock valued at $31,393,000 after purchasing an additional 410,152 shares during the period. 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 period. Finally, Cyndeo Wealth Partners LLC purchased a new stake in shares of Nordstrom in the third quarter valued at $6,248,000. Hedge funds and other 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.