Nordstrom, Inc. Expected to Post Q4 2023 Earnings of $1.52 Per Share (NYSE:JWN)

Nordstrom, Inc. (NYSE:JWNGet Rating) – Stock analysts at KeyCorp reduced their Q4 2023 EPS estimates for Nordstrom in a research report issued on Tuesday, November 22nd. KeyCorp analyst N. Zatzkin now anticipates that the specialty retailer will post earnings of $1.52 per share for the quarter, down from their prior estimate of $1.62. The consensus estimate for Nordstrom’s current full-year earnings is $2.32 per share.

A number of other brokerages have also recently issued reports on JWN. Piper Sandler dropped their target price on shares of Nordstrom from $28.00 to $26.00 and set an “overweight” rating for the company in a report on Wednesday, August 24th. StockNews.com upgraded shares of Nordstrom from a “hold” rating to a “buy” rating in a research report on Wednesday. Credit Suisse Group lowered their price target on shares of Nordstrom from $21.00 to $20.00 and set a “neutral” rating on the stock in a research report on Wednesday. Telsey Advisory Group lowered their price target on shares of Nordstrom from $28.00 to $25.00 and set a “market perform” rating on the stock in a research report on Wednesday, August 24th. Finally, Jefferies Financial Group upgraded shares of Nordstrom from a “hold” rating to a “buy” rating and increased their price target for the company from $21.00 to $24.00 in a research report on Thursday, September 15th. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $22.79.

Nordstrom Trading Down 4.2 %

NYSE JWN opened at $21.69 on Thursday. The stock has a market capitalization of $3.45 billion, a P/E ratio of 10.85, a P/E/G ratio of 1.63 and a beta of 2.17. Nordstrom has a 52-week low of $16.14 and a 52-week high of $29.59. The firm has a 50-day moving average price of $19.58 and a 200 day moving average price of $21.55. The company has a quick ratio of 0.34, a current ratio of 1.01 and a debt-to-equity ratio of 4.30.

Nordstrom (NYSE:JWNGet Rating) last released its quarterly earnings data on Tuesday, November 22nd. The specialty retailer reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.06. Nordstrom had a net margin of 2.08% and a return on equity of 57.97%. The company had revenue of $3.50 billion during the quarter, compared to the consensus estimate of $3.49 billion. During the same quarter in the prior year, the firm posted $0.39 earnings per share. Nordstrom’s revenue for the quarter was down 3.8% on a year-over-year basis.

Hedge Funds Weigh In On Nordstrom

A number of hedge funds have recently made changes to their positions in the stock. Prudential Financial Inc. boosted its holdings in shares of Nordstrom by 3.4% in the 1st quarter. Prudential Financial Inc. now owns 12,666 shares of the specialty retailer’s stock valued at $344,000 after purchasing an additional 415 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Nordstrom by 10.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,860 shares of the specialty retailer’s stock valued at $103,000 after purchasing an additional 453 shares during the last quarter. HighTower Advisors LLC boosted its holdings in shares of Nordstrom by 0.8% in the 1st quarter. HighTower Advisors LLC now owns 58,656 shares of the specialty retailer’s stock valued at $1,592,000 after purchasing an additional 494 shares during the last quarter. Guggenheim Capital LLC boosted its holdings in shares of Nordstrom by 4.2% in the 1st quarter. Guggenheim Capital LLC now owns 14,001 shares of the specialty retailer’s stock valued at $380,000 after purchasing an additional 568 shares during the last quarter. Finally, Treasurer of the State of North Carolina boosted its holdings in shares of Nordstrom by 1.3% in the 3rd quarter. Treasurer of the State of North Carolina now owns 47,945 shares of the specialty retailer’s stock valued at $802,000 after purchasing an additional 620 shares during the last quarter. Institutional investors and hedge funds own 59.36% of the company’s stock.

Nordstrom Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 14th. Shareholders of record on Tuesday, November 29th will be issued a $0.19 dividend. The ex-dividend date of this dividend is Monday, November 28th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.50%. Nordstrom’s dividend payout ratio (DPR) is presently 38.00%.

Nordstrom Company Profile

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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.

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Earnings History and Estimates for Nordstrom (NYSE:JWN)

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