Nordstrom, Inc. Expected to Earn Q4 2023 Earnings of $1.32 Per Share (NYSE:JWN)

Nordstrom, Inc. (NYSE:JWNGet Rating) – Equities researchers at Jefferies Financial Group raised their Q4 2023 earnings per share (EPS) estimates for shares of Nordstrom in a research report issued on Wednesday, September 14th. Jefferies Financial Group analyst S. Wissink now expects that the specialty retailer will post earnings of $1.32 per share for the quarter, up from their prior forecast of $1.20. Jefferies Financial Group has a “Buy” rating and a $24.00 price target on the stock. The consensus estimate for Nordstrom’s current full-year earnings is $2.36 per share. Jefferies Financial Group also issued estimates for Nordstrom’s Q3 2024 earnings at $0.42 EPS.

JWN has been the topic of several other reports. Cowen reduced their target price on Nordstrom from $30.00 to $24.00 and set a “market perform” rating on the stock in a research note on Wednesday, May 25th. Cowen dropped their target price on Nordstrom from $30.00 to $24.00 in a report on Wednesday, May 25th. StockNews.com downgraded Nordstrom from a “buy” rating to a “hold” rating in a report on Thursday, August 25th. KeyCorp began coverage on Nordstrom in a report on Wednesday, July 20th. They set an “overweight” rating and a $30.00 price target on the stock. Finally, Credit Suisse Group decreased their target price on Nordstrom to $26.00 in a research report on Wednesday, May 25th. Four equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $25.53.

Nordstrom Price Performance

JWN opened at $18.90 on Monday. The company has a debt-to-equity ratio of 4.30, a quick ratio of 0.34 and a current ratio of 1.01. Nordstrom has a 52-week low of $16.83 and a 52-week high of $36.43. The stock has a market capitalization of $3.01 billion, a PE ratio of 7.50, a price-to-earnings-growth ratio of 1.33 and a beta of 2.26. The stock’s 50 day moving average price is $21.37 and its 200-day moving average price is $23.93.

Nordstrom (NYSE:JWNGet Rating) last released its earnings results on Tuesday, August 23rd. The specialty retailer reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.01. Nordstrom had a return on equity of 70.36% and a net margin of 2.60%. During the same period in the prior year, the business posted $0.49 earnings per share.

Nordstrom Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 14th. Stockholders of record on Tuesday, August 30th were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 4.02%. The ex-dividend date was Monday, August 29th. Nordstrom’s payout ratio is 30.16%.

Nordstrom declared that its board has authorized a share buyback program on Tuesday, May 24th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the specialty retailer to reacquire up to 15.2% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Insider Transactions at Nordstrom

In related news, CFO Anne L. Bramman sold 13,333 shares of the firm’s stock in a transaction dated Tuesday, June 21st. The stock was sold at an average price of $24.66, for a total transaction of $328,791.78. Following the sale, the chief financial officer now owns 93,471 shares of the company’s stock, valued at $2,304,994.86. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 5.45% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Federated Hermes Inc. raised its position in Nordstrom by 24.8% during the second quarter. Federated Hermes Inc. now owns 521,539 shares of the specialty retailer’s stock valued at $11,020,000 after acquiring an additional 103,668 shares in the last quarter. Cordatus Wealth Management LLC acquired a new stake in shares of Nordstrom in the second quarter worth approximately $811,000. Captrust Financial Advisors boosted its stake in shares of Nordstrom by 44.9% in the second quarter. Captrust Financial Advisors now owns 2,738 shares of the specialty retailer’s stock worth $58,000 after acquiring an additional 849 shares during the last quarter. Walleye Capital LLC boosted its stake in shares of Nordstrom by 461.6% in the second quarter. Walleye Capital LLC now owns 151,108 shares of the specialty retailer’s stock worth $3,193,000 after acquiring an additional 124,200 shares during the last quarter. Finally, International Assets Investment Management LLC acquired a new stake in shares of Nordstrom in the second quarter worth approximately $202,000. 59.36% of the stock is currently owned by hedge funds and other institutional investors.

About Nordstrom

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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.

See Also

Earnings History and Estimates for Nordstrom (NYSE:JWN)

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