Nordstrom (JWN) Set to Announce Quarterly Earnings on Wednesday

Nordstrom (NYSE:JWN – Get Rating) will be releasing its earnings data after the market closes on Wednesday, May 31st. Analysts expect Nordstrom to post earnings of ($0.11) per share for the quarter. Nordstrom has set its FY24 guidance at $1.80 to $2.20 EPS and its FY 2023 guidance at $1.80-$2.20 EPS.Persons that are interested in participating in the company’s earnings conference call can do so using this link.

Nordstrom (NYSE:JWN – Get Rating) last released its earnings results on Thursday, March 2nd. The specialty retailer reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.09. The business had revenue of $4.20 billion for the quarter, compared to the consensus estimate of $4.33 billion. Nordstrom had a return on equity of 42.08% and a net margin of 1.58%. The business’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.23 earnings per share. On average, analysts expect Nordstrom to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Nordstrom Stock Performance

NYSE JWN opened at $15.77 on Wednesday. The company has a market cap of $2.55 billion, a PE ratio of 10.44, a price-to-earnings-growth ratio of 1.38 and a beta of 2.21. The stock’s 50 day simple moving average is $15.82 and its 200-day simple moving average is $18.00. Nordstrom has a 1-year low of $14.02 and a 1-year high of $27.72. The company has a debt-to-equity ratio of 3.86, a current ratio of 1.07 and a quick ratio of 0.42.

Nordstrom Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 14th. Stockholders of record on Tuesday, May 30th will be given a $0.19 dividend. The ex-dividend date of this dividend is Friday, May 26th. This represents a $0.76 annualized dividend and a dividend yield of 4.82%. Nordstrom’s dividend payout ratio (DPR) is presently 50.33%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Nordstrom by 1.3% during the third quarter. Vanguard Group Inc. now owns 10,459,699 shares of the specialty retailer’s stock worth $174,992,000 after buying an additional 131,102 shares during the period. BlackRock Inc. boosted its position in shares of Nordstrom by 0.3% during the first quarter. BlackRock Inc. now owns 10,002,029 shares of the specialty retailer’s stock worth $162,733,000 after buying an additional 27,000 shares during the period. State Street Corp boosted its position in shares of Nordstrom by 9.8% during the first quarter. State Street Corp now owns 5,083,663 shares of the specialty retailer’s stock worth $82,711,000 after buying an additional 454,762 shares during the period. Renaissance Technologies LLC boosted its position in shares of Nordstrom by 240.8% during the first quarter. Renaissance Technologies LLC now owns 1,988,500 shares of the specialty retailer’s stock worth $53,908,000 after buying an additional 1,405,000 shares during the period. Finally, Alyeska Investment Group L.P. boosted its position in shares of Nordstrom by 64.4% during the first quarter. Alyeska Investment Group L.P. now owns 1,738,974 shares of the specialty retailer’s stock worth $28,293,000 after buying an additional 681,451 shares during the period. 66.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Argus raised Nordstrom from a “hold” rating to a “buy” rating and set a $23.00 price target for the company in a report on Wednesday, March 8th. Telsey Advisory Group increased their price target on Nordstrom from $19.00 to $21.00 and gave the company a “market perform” rating in a report on Friday, March 3rd. Credit Suisse Group reaffirmed a “neutral” rating and issued a $17.00 price target on shares of Nordstrom in a report on Friday, March 3rd. Barclays cut their price target on Nordstrom from $16.00 to $14.00 in a report on Tuesday, May 2nd. Finally, StockNews.com assumed coverage on Nordstrom in a report on Thursday, May 18th. They issued a “hold” rating for the company. Four investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $19.50.

Nordstrom Company Profile

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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.