Nordstrom, Inc. (NYSE:JWN) to Post FY2024 Earnings of $2.01 Per Share, Zacks Research Forecasts

Nordstrom, Inc. (NYSE:JWN) – Zacks Research lifted their FY2024 earnings estimates for shares of Nordstrom in a research note issued on Thursday, September 7th. Zacks Research analyst R. Lohia now anticipates that the specialty retailer will post earnings of $2.01 per share for the year, up from their prior forecast of $1.88. The consensus estimate for Nordstrom’s current full-year earnings is $2.03 per share. Zacks Research also issued estimates for Nordstrom’s Q4 2024 earnings at $0.96 EPS, Q1 2025 earnings at $0.06 EPS, Q4 2025 earnings at $1.07 EPS and FY2026 earnings at $2.05 EPS.

Other equities analysts have also recently issued research reports about the stock. StockNews.com raised shares of Nordstrom from a “hold” rating to a “buy” rating in a research note on Monday, August 28th. JPMorgan Chase & Co. reduced their target price on Nordstrom from $21.00 to $20.00 in a research note on Sunday, August 27th. Morgan Stanley dropped their price target on Nordstrom from $16.00 to $15.00 and set an “underweight” rating for the company in a research note on Tuesday, August 29th. Deutsche Bank Aktiengesellschaft raised their price objective on Nordstrom from $17.00 to $19.00 in a report on Thursday, June 1st. Finally, Citigroup cut their target price on Nordstrom from $20.00 to $18.00 and set a “neutral” rating for the company in a research note on Friday, August 25th. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Nordstrom has a consensus rating of “Hold” and a consensus price target of $18.75.

Nordstrom Price Performance

Shares of JWN stock remained flat at $14.66 during trading on Friday. 1,188,398 shares of the company traded hands, compared to its average volume of 5,348,354. The business’s 50 day simple moving average is $19.64 and its 200-day simple moving average is $17.99. The firm has a market cap of $2.37 billion, a PE ratio of 80.72, a price-to-earnings-growth ratio of 0.91 and a beta of 2.32. The company has a quick ratio of 0.43, a current ratio of 0.99 and a debt-to-equity ratio of 3.87. Nordstrom has a one year low of $14.02 and a one year high of $27.15.

Nordstrom (NYSE:JWN) last posted its earnings results on Thursday, August 24th. The specialty retailer reported $0.84 EPS for the quarter, topping the consensus estimate of $0.45 by $0.39. Nordstrom had a return on equity of 46.55% and a net margin of 0.21%. The business had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $3.68 billion. During the same period in the previous year, the business earned $0.81 earnings per share. The firm’s revenue was down 7.9% on a year-over-year basis.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings 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 valued at $174,992,000 after purchasing an additional 131,102 shares during the last quarter. BlackRock Inc. raised its holdings in shares of Nordstrom by 1.8% during the second quarter. BlackRock Inc. now owns 10,184,495 shares of the specialty retailer’s stock valued at $208,477,000 after purchasing an additional 182,466 shares during the last quarter. State Street Corp boosted its stake in shares of Nordstrom by 70.0% in the 2nd quarter. State Street Corp now owns 8,640,239 shares of the specialty retailer’s stock worth $176,866,000 after buying an additional 3,556,576 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of Nordstrom by 119.2% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,933,201 shares of the specialty retailer’s stock valued at $79,622,000 after purchasing an additional 2,682,248 shares during the period. Finally, Fisher Asset Management LLC increased its position in shares of Nordstrom by 1.5% during the 2nd quarter. Fisher Asset Management LLC now owns 2,454,375 shares of the specialty retailer’s stock valued at $50,241,000 after purchasing an additional 35,663 shares during the last quarter. Hedge funds and other institutional investors own 62.56% of the company’s stock.

Insider Buying and Selling

In other Nordstrom news, insider Farrell B. Redwine sold 33,364 shares of the company’s stock in a transaction on Friday, June 30th. The shares were sold at an average price of $20.37, for a total value of $679,624.68. Following the completion of the transaction, the insider now directly owns 26,564 shares in the company, valued at approximately $541,108.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.90% of the stock is currently owned by insiders.

Nordstrom Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 13th. Investors of record on Tuesday, August 29th will be issued a dividend of $0.19 per share. The ex-dividend date of this dividend is Monday, August 28th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 5.18%. Nordstrom’s dividend payout ratio is presently 422.22%.

Nordstrom Company Profile

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; Nordstrom.ca; Nordstrom stores; Nordstrom Rack stores; Nordstrom Locals; ASOS; Nordstromrack.com; and clearance stores under the Last Chance name.