Nordstrom, Inc. (NYSE:JWN) declared a quarterly dividend on Thursday, May 23rd, RTT News reports. Stockholders of record on Monday, June 3rd will be given a dividend of 0.37 per share by the specialty retailer on Tuesday, June 18th. This represents a $1.48 annualized dividend and a dividend yield of 4.38%.
Nordstrom has a payout ratio of 41.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Nordstrom to earn $3.94 per share next year, which means the company should continue to be able to cover its $1.48 annual dividend with an expected future payout ratio of 37.6%.
Shares of Nordstrom stock traded down $0.54 on Thursday, hitting $33.81. The company had a trading volume of 4,971,368 shares, compared to its average volume of 3,208,592. The stock has a market capitalization of $5.86 billion, a PE ratio of 9.52, a price-to-earnings-growth ratio of 1.70 and a beta of 0.48. Nordstrom has a twelve month low of $33.75 and a twelve month high of $67.75. The company has a quick ratio of 0.41, a current ratio of 1.00 and a debt-to-equity ratio of 3.07.
Nordstrom (NYSE:JWN) last released its quarterly earnings results on Tuesday, May 21st. The specialty retailer reported $0.23 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by ($0.20). The company had revenue of $3.44 billion during the quarter, compared to analyst estimates of $3.54 billion. Nordstrom had a net margin of 3.27% and a return on equity of 52.45%. During the same quarter last year, the company earned $0.51 EPS. Equities analysts anticipate that Nordstrom will post 3.72 EPS for the current fiscal year.
In other Nordstrom news, insider Christine Deputy sold 13,124 shares of the business’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $42.61, for a total transaction of $559,213.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ken Worzel sold 17,125 shares of the business’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $45.00, for a total transaction of $770,625.00. Following the sale, the insider now owns 102,588 shares of the company’s stock, valued at approximately $4,616,460. The disclosure for this sale can be found here. In the last quarter, insiders sold 49,180 shares of company stock valued at $2,164,864. Corporate insiders own 5.21% of the company’s stock.
JWN has been the subject of several research analyst reports. Deutsche Bank cut shares of Nordstrom from a “buy” rating to a “hold” rating and set a $43.30 price target for the company. in a report on Friday, February 22nd. Guggenheim restated a “hold” rating on shares of Nordstrom in a report on Thursday, February 28th. Citigroup increased their target price on shares of Nordstrom from $45.00 to $48.00 and gave the stock a “neutral” rating in a report on Friday, March 1st. Bank of America set a $48.00 target price on shares of Nordstrom and gave the stock a “sell” rating in a report on Friday, March 1st. Finally, Piper Jaffray Companies set a $44.00 target price on shares of Nordstrom and gave the stock a “hold” rating in a report on Friday, March 1st. Four equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $43.73.
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Nordstrom, Inc, a fashion retailer, provides apparel, shoes, cosmetics, and accessories 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 full-line stores and online store at Nordstrom.com; Nordstrom Rack stores; Nordstromrack.com and HauteLook; Jeffrey boutiques; clearance stores that operate under the Last Chance name; Trunk Club clubhouses and TrunkClub.com; and Nordstrom Locals.
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