Nordstrom (NYSE:JWN) Stock Price Expected to Rise, Barclays Analyst Says

Nordstrom (NYSE:JWN) had its price target raised by Barclays from $23.00 to $24.00 in a report issued on Thursday morning,Benzinga reports. The firm currently has an equal weight rating on the specialty retailer’s stock.

A number of other analysts have also commented on JWN. UBS Group upgraded Nordstrom from a “sell” rating to a “neutral” rating and boosted their price target for the company from $14.50 to $24.00 in a report on Friday, January 10th. KeyCorp downgraded Nordstrom from an “overweight” rating to a “sector weight” rating in a research report on Thursday, September 26th. Citigroup lifted their price objective on shares of Nordstrom from $22.00 to $23.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th. Argus cut shares of Nordstrom from a “buy” rating to a “sell” rating in a report on Monday, December 30th. Finally, Evercore ISI lifted their price target on shares of Nordstrom from $22.00 to $24.00 and gave the company an “in-line” rating in a research note on Monday. 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, the company currently has an average rating of “Hold” and an average price target of $22.17.

Nordstrom Price Performance

Shares of JWN opened at $24.14 on Thursday. The stock has a 50 day simple moving average of $23.52 and a 200 day simple moving average of $22.78. Nordstrom has a 52-week low of $16.78 and a 52-week high of $24.99. The company has a debt-to-equity ratio of 2.65, a quick ratio of 0.35 and a current ratio of 1.14. The firm has a market capitalization of $3.98 billion, a PE ratio of 15.37 and a beta of 2.52.

Nordstrom (NYSE:JWN) last issued its quarterly earnings data 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. The company had revenue of $3.35 billion during the quarter, compared to the consensus estimate of $3.34 billion. Nordstrom had a negative net margin of 1.57% and a negative return on equity of 18.04%. The firm’s revenue was up 4.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.25 earnings per share. Sell-side analysts predict that Nordstrom will post 1.95 EPS for the current fiscal year.

Nordstrom Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Tuesday, December 3rd were paid a $0.19 dividend. The ex-dividend date was Tuesday, December 3rd. This represents a $0.76 annualized dividend and a yield of 3.15%. Nordstrom’s dividend payout ratio (DPR) is currently 48.41%.

Hedge Funds Weigh In On Nordstrom

Institutional investors have recently bought and sold shares of the business. Crossmark Global Holdings Inc. boosted its stake in shares of Nordstrom by 171.3% during the 4th quarter. Crossmark Global Holdings Inc. now owns 100,733 shares of the specialty retailer’s stock worth $2,432,000 after acquiring an additional 63,600 shares during the period. Hennessy Advisors Inc. bought a new position in Nordstrom during the fourth quarter worth $56,026,000. Wedmont Private Capital boosted its position in Nordstrom by 6.7% during the fourth quarter. Wedmont Private Capital now owns 11,589 shares of the specialty retailer’s stock worth $278,000 after purchasing an additional 723 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Nordstrom by 29.7% in the third quarter. JPMorgan Chase & Co. now owns 388,796 shares of the specialty retailer’s stock valued at $8,744,000 after purchasing an additional 89,114 shares during the last quarter. Finally, Franklin Resources Inc. lifted its stake in shares of Nordstrom by 29.9% during the 3rd quarter. Franklin Resources Inc. now owns 50,294 shares of the specialty retailer’s stock worth $1,152,000 after buying an additional 11,583 shares during the last quarter. Institutional investors and hedge funds own 88.73% of the company’s stock.

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.