Analysts Issue Forecasts for Nordstrom, Inc.’s Q1 2024 Earnings (NYSE:JWN)

Nordstrom, Inc. (NYSE:JWNGet Rating) – Stock analysts at Telsey Advisory Group issued their Q1 2024 earnings per share estimates for Nordstrom in a report released on Thursday, May 19th. Telsey Advisory Group analyst D. Telsey forecasts that the specialty retailer will post earnings of ($0.12) per share for the quarter. Telsey Advisory Group currently has a “Market Perform” rating and a $30.00 target price on the stock. Telsey Advisory Group also issued estimates for Nordstrom’s Q2 2024 earnings at $0.94 EPS, Q3 2024 earnings at $0.87 EPS and Q4 2024 earnings at $1.80 EPS.

Other equities research analysts have also issued research reports about the stock. Zacks Investment Research raised shares of Nordstrom from a “hold” rating to a “buy” rating and set a $26.00 price target on the stock in a report on Wednesday. Citigroup lifted their price target on shares of Nordstrom from $25.00 to $27.00 in a report on Wednesday, March 2nd. KeyCorp reduced their price target on shares of Nordstrom from $45.00 to $40.00 and set an “overweight” rating on the stock in a research report on Thursday, January 20th. BMO Capital Markets raised their price objective on shares of Nordstrom from $23.00 to $30.00 and gave the stock a “market perform” rating in a report on Wednesday, March 2nd. Finally, StockNews.com initiated coverage on Nordstrom in a report on Thursday, March 31st. They set a “buy” rating on the stock. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $29.07.

Shares of Nordstrom stock opened at $22.63 on Friday. The company’s 50 day moving average price is $26.44 and its 200-day moving average price is $24.80. Nordstrom has a 52-week low of $18.65 and a 52-week high of $40.46. The company has a debt-to-equity ratio of 4.91, a quick ratio of 0.27 and a current ratio of 0.96. The stock has a market capitalization of $3.61 billion, a price-to-earnings ratio of 21.35, a P/E/G ratio of 1.14 and a beta of 2.25.

Nordstrom (NYSE:JWNGet Rating) last posted its quarterly earnings results on Tuesday, March 1st. The specialty retailer reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.19. Nordstrom had a return on equity of 70.74% and a net margin of 1.20%. The business had revenue of $4.38 billion for the quarter, compared to analyst estimates of $4.36 billion. During the same period last year, the company earned $0.21 EPS. Nordstrom’s revenue for the quarter was up 23.4% compared to the same quarter last year.

Several hedge funds and other institutional investors have recently modified their holdings of JWN. Natixis increased its position in shares of Nordstrom by 18.8% during the third quarter. Natixis now owns 447,545 shares of the specialty retailer’s stock valued at $11,838,000 after acquiring an additional 70,849 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in Nordstrom by 124.6% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 39,360 shares of the specialty retailer’s stock valued at $890,000 after acquiring an additional 21,837 shares in the last quarter. Advisor Group Holdings Inc. boosted its stake in Nordstrom by 125.5% during the 3rd quarter. Advisor Group Holdings Inc. now owns 53,478 shares of the specialty retailer’s stock valued at $1,415,000 after purchasing an additional 29,767 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Nordstrom by 1,420.9% in the 4th quarter. Russell Investments Group Ltd. now owns 92,745 shares of the specialty retailer’s stock worth $2,096,000 after purchasing an additional 86,647 shares in the last quarter. Finally, Moors & Cabot Inc. purchased a new position in shares of Nordstrom in the third quarter worth $214,000. Hedge funds and other institutional investors own 57.27% of the company’s stock.

In other news, CFO Anne L. Bramman sold 13,334 shares of the stock in a transaction on Monday, April 18th. The stock was sold at an average price of $28.74, for a total value of $383,219.16. Following the sale, the chief financial officer now directly owns 120,137 shares of the company’s stock, valued at $3,452,737.38. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 5.45% of the company’s stock.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 15th. Shareholders of record on Tuesday, May 31st will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 3.36%. The ex-dividend date is Friday, May 27th. Nordstrom’s dividend payout ratio (DPR) is 71.70%.

Nordstrom Company Profile (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.

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Earnings History and Estimates for Nordstrom (NYSE:JWN)

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