Nordstrom (NYSE:JWN) Releases FY 2024 Earnings Guidance

Nordstrom (NYSE:JWN) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 1.750-2.050 for the period, compared to the consensus estimate of 1.890. The company issued revenue guidance of $14.7 billion-$14.8 billion, compared to the consensus revenue estimate of $14.8 billion. Nordstrom also updated its FY25 guidance to $1.75-2.05 EPS.

Analysts Set New Price Targets

JWN has been the subject of several recent research reports. BMO Capital Markets lifted their price objective on Nordstrom from $20.00 to $22.00 and gave the stock a “market perform” rating in a report on Wednesday, August 28th. Barclays upgraded Nordstrom from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $18.00 to $23.00 in a research report on Thursday, September 5th. Citigroup lifted their target price on shares of Nordstrom from $22.00 to $23.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. Telsey Advisory Group reiterated a “market perform” rating and set a $24.00 price target on shares of Nordstrom in a report on Wednesday, November 20th. Finally, Bank of America lifted their target price on Nordstrom from $18.00 to $20.00 and gave the company an “underperform” rating in a research note on Wednesday, August 28th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Nordstrom has an average rating of “Hold” and a consensus target price of $20.58.

Nordstrom Stock Down 1.1 %

Nordstrom stock traded down $0.28 during mid-day trading on Tuesday, reaching $24.62. 4,418,598 shares of the company’s stock were exchanged, compared to its average volume of 3,042,404. Nordstrom has a twelve month low of $14.65 and a twelve month high of $24.99. The company has a fifty day moving average of $22.82 and a 200-day moving average of $22.20. The company has a market cap of $4.04 billion, a P/E ratio of 14.58 and a beta of 2.59. The company has a quick ratio of 0.41, a current ratio of 1.07 and a debt-to-equity ratio of 2.76.

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, beating 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 1.44% and a negative return on equity of 21.26%. Nordstrom’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter last year, the company earned $0.25 earnings per share. Sell-side analysts expect that Nordstrom will post 1.91 EPS for the current year.

Nordstrom Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Tuesday, December 3rd will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date is Tuesday, December 3rd. Nordstrom’s dividend payout ratio is presently 44.44%.

Insiders Place Their Bets

In other news, COO Alexis Depree sold 20,000 shares of the stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $23.20, for a total value of $464,000.00. Following the completion of the transaction, the chief operating officer now directly owns 169,331 shares in the company, valued at approximately $3,928,479.20. This represents a 10.56 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 5.78% 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.