Nordstrom (NYSE:JWN – Get Rating) released its earnings results on Tuesday. The specialty retailer reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.06, RTT News reports. Nordstrom had a return on equity of 58.09% and a net margin of 2.08%. The business had revenue of $3.50 billion for the quarter, compared to the consensus estimate of $3.49 billion. During the same quarter last year, the business posted $0.39 earnings per share. The business’s quarterly revenue was down 3.8% compared to the same quarter last year. Nordstrom updated its FY23 guidance to $2.30-$2.60 EPS.
Nordstrom Trading Down 4.2 %
JWN opened at $21.69 on Friday. Nordstrom has a 12 month low of $16.14 and a 12 month high of $29.59. The stock has a market capitalization of $3.45 billion, a price-to-earnings ratio of 10.85, a PEG ratio of 1.53 and a beta of 2.17. The company has a debt-to-equity ratio of 4.71, a current ratio of 0.99 and a quick ratio of 0.34. The business has a fifty day moving average price of $19.58 and a 200 day moving average price of $21.55.
Nordstrom Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 14th. Investors of record on Tuesday, November 29th will be paid a dividend of $0.19 per share. The ex-dividend date is Monday, November 28th. This represents a $0.76 annualized dividend and a yield of 3.50%. Nordstrom’s payout ratio is 38.00%.
Institutional Inflows and Outflows
Analysts Set New Price Targets
A number of equities analysts recently commented on the company. Telsey Advisory Group reduced their price objective on Nordstrom from $28.00 to $25.00 and set a “market perform” rating on the stock in a research report on Wednesday, August 24th. StockNews.com upgraded Nordstrom from a “hold” rating to a “buy” rating in a research report on Wednesday. Barclays reduced their price objective on Nordstrom from $21.00 to $18.00 and set an “underweight” rating on the stock in a research report on Thursday, August 25th. Piper Sandler reduced their target price on Nordstrom from $28.00 to $26.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 24th. Finally, Citigroup reduced their target price on Nordstrom from $22.00 to $21.00 in a research report on Wednesday, August 24th. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Nordstrom has a consensus rating of “Hold” and a consensus price target of $22.79.
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; TrunkClub.com; Nordstrom.ca; Nordstrom stores; Nordstrom Rack stores; Nordstrom Locals; Nordstromrack.com and HauteLook; clearance stores under the Last Chance name; Trunk Club clubhouses; and Jeffrey boutiques.
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