Equities Analysts Set Expectations for Nordstrom, Inc.’s Q1 2024 Earnings (NYSE:JWN)

Nordstrom, Inc. (NYSE:JWN – Get Rating) – Analysts at Jefferies Financial Group lowered their Q1 2024 earnings per share (EPS) estimates for Nordstrom in a research report issued to clients and investors on Thursday, January 19th. Jefferies Financial Group analyst A. Helgans now forecasts that the specialty retailer will post earnings per share of $0.04 for the quarter, down from their previous forecast of $0.09. The consensus estimate for Nordstrom’s current full-year earnings is $1.60 per share. Jefferies Financial Group also issued estimates for Nordstrom’s FY2025 earnings at $2.40 EPS and FY2026 earnings at $2.66 EPS.

Nordstrom (NYSE:JWN – Get Rating) last posted its quarterly earnings results on Tuesday, November 22nd. The specialty retailer reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.06. The business had revenue of $3.50 billion during the quarter, compared to the consensus estimate of $3.49 billion. Nordstrom had a return on equity of 58.09% and a net margin of 2.08%. The company’s revenue for the quarter was down 3.8% compared to the same quarter last year. During the same period last year, the firm earned $0.39 earnings per share.

A number of other equities analysts also recently commented on JWN. Evercore ISI decreased their price target on Nordstrom from $25.00 to $16.00 and set an “in-line” rating for the company in a research note on Friday. Citigroup decreased their price target on Nordstrom from $21.00 to $17.00 and set a “neutral” rating for the company in a research note on Friday. Gordon Haskett downgraded Nordstrom from a “hold” rating to a “reduce” rating and decreased their target price for the company from $20.00 to $13.00 in a research note on Friday. KeyCorp decreased their target price on Nordstrom from $30.00 to $22.00 and set an “overweight” rating for the company in a research note on Friday. Finally, StockNews.com downgraded Nordstrom from a “buy” rating to a “hold” rating in a research note on Monday, December 12th. Five research analysts have rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Nordstrom has a consensus rating of “Hold” and an average price target of $18.75.

Nordstrom Stock Up 0.1 %

NYSE:JWN opened at $17.47 on Monday. The company has a market capitalization of $2.80 billion, a price-to-earnings ratio of 8.74, a price-to-earnings-growth ratio of 0.41 and a beta of 2.17. Nordstrom has a one year low of $15.52 and a one year high of $29.59. The stock has a 50-day simple moving average of $18.29 and a 200 day simple moving average of $19.67. The company has a debt-to-equity ratio of 4.71, a quick ratio of 0.24 and a current ratio of 0.99.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of JWN. Sandy Spring Bank increased its holdings in shares of Nordstrom by 500.0% in the second quarter. Sandy Spring Bank now owns 1,200 shares of the specialty retailer’s stock valued at $25,000 after buying an additional 1,000 shares in the last quarter. Charter Oak Capital Management LLC bought a new position in shares of Nordstrom in the second quarter valued at $34,000. Marshall & Sullivan Inc. WA bought a new position in shares of Nordstrom in the fourth quarter valued at $37,000. Newbridge Financial Services Group Inc. acquired a new stake in Nordstrom during the 4th quarter valued at $40,000. Finally, Bartlett & Co. LLC raised its stake in Nordstrom by 200.0% during the 2nd quarter. Bartlett & Co. LLC now owns 1,950 shares of the specialty retailer’s stock valued at $41,000 after purchasing an additional 1,300 shares during the period. Institutional investors own 66.41% of the company’s stock.

Nordstrom Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 14th. Shareholders of record on Tuesday, November 29th were issued a $0.19 dividend. The ex-dividend date of this dividend was Monday, November 28th. This represents a $0.76 annualized dividend and a dividend yield of 4.35%. Nordstrom’s dividend payout ratio is currently 38.00%.

About Nordstrom

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Nordstrom, Inc engages in the manufacture and trade of clothes, shoes, and accessories. It operates through the following segments: Retail and Corporate/Other. The Retail segment consists of a selection of high-quality, brand-name, and private label merchandise, which includes apparel, shoes, cosmetics, and accessories for women, men, young adults, and children.