Nordstrom (NYSE:JWN) Earns Buy Rating from Analysts at StockNews.com

StockNews.com began coverage on shares of Nordstrom (NYSE:JWN) in a report published on Saturday morning. The firm issued a buy rating on the specialty retailer’s stock.

JWN has been the topic of several other reports. Barclays lifted their price target on Nordstrom from $23.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 16th. Evercore ISI upped their target price on shares of Nordstrom from $22.00 to $24.00 and gave the company an “in-line” rating in a research note on Monday, January 13th. Citigroup increased their price target on shares of Nordstrom from $22.00 to $23.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th. KeyCorp downgraded shares of Nordstrom from an “overweight” rating to a “sector weight” rating in a report on Thursday, September 26th. Finally, UBS Group upgraded shares of Nordstrom from a “sell” rating to a “neutral” rating and increased their target price for the company from $14.50 to $24.00 in a research note on Friday, January 10th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, Nordstrom currently has a consensus rating of “Hold” and a consensus price target of $22.17.

Nordstrom Price Performance

NYSE JWN opened at $24.12 on Friday. Nordstrom has a 1 year low of $16.78 and a 1 year high of $24.99. The company has a fifty day simple moving average of $23.58 and a 200 day simple moving average of $22.84. The company has a current ratio of 1.14, a quick ratio of 0.35 and a debt-to-equity ratio of 2.65. The company has a market cap of $3.98 billion, a P/E ratio of 15.36 and a beta of 2.52.

Nordstrom (NYSE:JWN) last released its quarterly earnings results on Tuesday, November 26th. The specialty retailer reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.11. The company had revenue of $3.35 billion during the quarter, compared to analysts’ expectations of $3.34 billion. Nordstrom had a negative net margin of 1.57% and a negative return on equity of 18.04%. The business’s quarterly 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. On average, sell-side analysts predict that Nordstrom will post 1.95 EPS for the current year.

Nordstrom Announces Dividend

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

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of JWN. State of New Jersey Common Pension Fund D bought a new stake in shares of Nordstrom in the 2nd quarter worth about $1,835,000. DekaBank Deutsche Girozentrale boosted its position in Nordstrom by 70.5% in the second quarter. DekaBank Deutsche Girozentrale now owns 5,387 shares of the specialty retailer’s stock valued at $112,000 after buying an additional 2,227 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in Nordstrom by 2.3% during the second quarter. Envestnet Asset Management Inc. now owns 272,922 shares of the specialty retailer’s stock worth $5,791,000 after buying an additional 6,099 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Nordstrom by 4.6% during the second quarter. Dimensional Fund Advisors LP now owns 3,136,639 shares of the specialty retailer’s stock worth $66,557,000 after buying an additional 137,094 shares in the last quarter. Finally, XTX Topco Ltd bought a new position in shares of Nordstrom in the second quarter valued at approximately $456,000. 88.73% of the stock is currently owned by institutional investors and hedge funds.

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.