Nordstrom (NYSE:JWN) Coverage Initiated by Analysts at StockNews.com

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

Other equities analysts have also issued reports about the stock. Telsey Advisory Group reissued a “market perform” rating and issued a $24.00 price objective on shares of Nordstrom in a research report on Monday, January 13th. Bank of America increased their price objective on shares of Nordstrom from $20.00 to $22.00 and gave the company an “underperform” rating in a research report on Wednesday, November 27th. Evercore ISI increased their price objective on shares of Nordstrom from $22.00 to $24.00 and gave the company an “in-line” rating in a research report on Monday, January 13th. Argus lowered shares of Nordstrom from a “buy” rating to a “sell” rating in a research report on Monday, December 30th. Finally, Barclays increased their price objective on shares of Nordstrom from $23.00 to $24.00 and gave the company an “equal weight” rating in a research report on Thursday, January 16th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $22.17.

Nordstrom Stock Performance

Shares of JWN stock opened at $24.34 on Tuesday. The stock has a market cap of $4.02 billion, a P/E ratio of 15.50 and a beta of 2.51. The company has a debt-to-equity ratio of 2.65, a current ratio of 1.14 and a quick ratio of 0.35. The company has a fifty day moving average price of $23.97 and a two-hundred day moving average price of $23.05. Nordstrom has a one year low of $16.78 and a one year high of $24.99.

Nordstrom (NYSE:JWN) last issued its quarterly earnings data on Tuesday, November 26th. The specialty retailer reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.11. The company had revenue of $3.35 billion for the quarter, compared to analyst estimates of $3.34 billion. Nordstrom had a negative net margin of 1.57% and a negative return on equity of 18.04%. The company’s revenue was up 4.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.25 earnings per share. As a group, equities analysts predict that Nordstrom will post 1.97 EPS for the current year.

Nordstrom Announces Dividend

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 3.12%. Nordstrom’s payout ratio is currently 48.41%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Retirement Systems of Alabama raised its holdings in Nordstrom by 0.4% during the 4th quarter. Retirement Systems of Alabama now owns 117,801 shares of the specialty retailer’s stock worth $2,845,000 after purchasing an additional 512 shares during the last quarter. Freestone Capital Holdings LLC increased its stake in Nordstrom by 3.0% during the 4th quarter. Freestone Capital Holdings LLC now owns 19,252 shares of the specialty retailer’s stock valued at $465,000 after purchasing an additional 558 shares in the last quarter. Amalgamated Bank increased its stake in Nordstrom by 1.4% during the 4th quarter. Amalgamated Bank now owns 45,083 shares of the specialty retailer’s stock valued at $1,089,000 after purchasing an additional 617 shares in the last quarter. Janney Montgomery Scott LLC increased its stake in Nordstrom by 1.2% during the 4th quarter. Janney Montgomery Scott LLC now owns 55,956 shares of the specialty retailer’s stock valued at $1,351,000 after purchasing an additional 640 shares in the last quarter. Finally, Wedmont Private Capital increased its stake in Nordstrom by 6.7% during the 4th quarter. Wedmont Private Capital now owns 11,589 shares of the specialty retailer’s stock valued at $278,000 after purchasing an additional 723 shares in the last quarter. Institutional investors own 88.73% 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.