Jefferies Financial Group Brokers Cut Earnings Estimates for Nordstrom, Inc. (NYSE:JWN)

Nordstrom, Inc. (NYSE:JWNGet Rating) – Investment analysts at Jefferies Financial Group dropped their FY2023 EPS estimates for Nordstrom in a report released on Tuesday, November 22nd. Jefferies Financial Group analyst A. Helgans now expects that the specialty retailer will earn $2.32 per share for the year, down from their prior estimate of $2.36. Jefferies Financial Group currently has a “Buy” rating and a $24.00 price target on the stock. The consensus estimate for Nordstrom’s current full-year earnings is $2.32 per share. Jefferies Financial Group also issued estimates for Nordstrom’s Q4 2023 earnings at $1.36 EPS and Q1 2024 earnings at $0.09 EPS.

Several other equities analysts have also commented on the stock. Citigroup lowered their price objective on shares of Nordstrom from $22.00 to $21.00 in a research report on Wednesday, August 24th. Credit Suisse Group lowered their price target on shares of Nordstrom from $21.00 to $20.00 and set a “neutral” rating for the company in a 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 note on Thursday, August 25th. Deutsche Bank Aktiengesellschaft lowered their price objective on Nordstrom from $23.00 to $22.00 and set a “hold” rating for the company in a research note on Monday, November 14th. Finally, StockNews.com raised Nordstrom from a “hold” rating to a “buy” rating in a research report on Wednesday. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Nordstrom currently has an average rating of “Hold” and a consensus target price of $22.79.

Nordstrom Trading Down 4.2 %

JWN stock opened at $21.69 on Thursday. The firm has a fifty day moving average price of $19.58 and a 200 day moving average price of $21.55. Nordstrom has a fifty-two week low of $16.14 and a fifty-two week high of $29.59. The firm has a market cap of $3.45 billion, a PE ratio of 10.85, a price-to-earnings-growth ratio of 1.63 and a beta of 2.17. 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 (NYSE:JWNGet Rating) last issued its earnings results on Tuesday, November 22nd. The specialty retailer reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.06. Nordstrom had a return on equity of 57.97% and a net margin of 2.08%. The firm had revenue of $3.50 billion for the quarter, compared to analysts’ expectations of $3.49 billion. During the same period in the previous year, the firm posted $0.39 earnings per share. The business’s revenue was down 3.8% compared to the same quarter last year.

Institutional Trading of Nordstrom

Large investors have recently modified their holdings of the company. Teachers Retirement System of The State of Kentucky purchased a new position in Nordstrom during the 3rd quarter worth $300,000. Alpha Paradigm Partners LLC purchased a new position in shares of Nordstrom during the third quarter valued at $479,000. Balyasny Asset Management LLC raised its holdings in shares of Nordstrom by 71.0% in the third quarter. Balyasny Asset Management LLC now owns 2,162,440 shares of the specialty retailer’s stock valued at $36,178,000 after acquiring an additional 898,176 shares in the last quarter. Baird Financial Group Inc. raised its holdings in shares of Nordstrom by 105.0% in the third quarter. Baird Financial Group Inc. now owns 350,868 shares of the specialty retailer’s stock valued at $5,870,000 after acquiring an additional 179,729 shares in the last quarter. Finally, BNP Paribas Arbitrage SNC lifted its stake in Nordstrom by 254.4% in the third quarter. BNP Paribas Arbitrage SNC now owns 929,281 shares of the specialty retailer’s stock worth $15,547,000 after acquiring an additional 667,033 shares during the period. Hedge funds and other institutional investors own 59.36% of the company’s stock.

Nordstrom Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 14th. Stockholders of record on Tuesday, November 29th 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 3.50%. The ex-dividend date is Monday, November 28th. Nordstrom’s dividend payout ratio (DPR) is presently 38.00%.

About Nordstrom

(Get Rating)

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)

Receive News & Ratings for Nordstrom Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nordstrom and related companies with MarketBeat.com's FREE daily email newsletter.