Nordstrom, Inc. (NYSE:JWN) Given Consensus Recommendation of “Reduce” by Brokerages

Shares of Nordstrom, Inc. (NYSE:JWN) have received a consensus rating of “Reduce” from the eleven brokerages that are currently covering the company, MarketBeat reports. Five research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $16.54.

Several equities research analysts have recently issued reports on the company. Jefferies Financial Group reaffirmed a “hold” rating and set a $17.00 target price (down from $18.00) on shares of Nordstrom in a research report on Thursday, March 7th. JPMorgan Chase & Co. lifted their price objective on Nordstrom from $14.00 to $15.00 and gave the stock an “underweight” rating in a report on Wednesday, March 6th. Citigroup decreased their price objective on Nordstrom from $21.00 to $20.00 and set a “neutral” rating for the company in a report on Wednesday, March 6th. Telsey Advisory Group reissued a “market perform” rating and issued a $19.00 price objective on shares of Nordstrom in a report on Friday, April 19th. Finally, The Goldman Sachs Group lifted their price objective on Nordstrom from $16.00 to $18.00 and gave the stock a “neutral” rating in a report on Wednesday, March 6th.

Nordstrom Trading Up 1.6 %

Shares of Nordstrom stock opened at $19.43 on Tuesday. Nordstrom has a 1 year low of $12.88 and a 1 year high of $23.53. The firm has a market cap of $3.17 billion, a PE ratio of 24.29, a P/E/G ratio of 2.17 and a beta of 2.59. The stock has a fifty day moving average price of $19.16 and a 200-day moving average price of $17.60. The company has a debt-to-equity ratio of 3.08, a current ratio of 1.02 and a quick ratio of 0.41.

Nordstrom (NYSE:JWN) last announced its earnings results on Tuesday, March 5th. The specialty retailer reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.06. Nordstrom had a return on equity of 49.30% and a net margin of 0.91%. The firm had revenue of $4.29 billion during the quarter, compared to analyst estimates of $4.38 billion. During the same period last year, the firm posted $0.74 EPS. The business’s revenue was up 2.2% compared to the same quarter last year. Equities research analysts anticipate that Nordstrom will post 1.81 EPS for the current year.

Nordstrom Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Tuesday, March 12th were paid a $0.19 dividend. The ex-dividend date was Monday, March 11th. This represents a $0.76 annualized dividend and a yield of 3.91%. Nordstrom’s dividend payout ratio is currently 95.00%.

Institutional Trading of Nordstrom

A number of large investors have recently modified their holdings of JWN. AE Wealth Management LLC bought a new stake in shares of Nordstrom during the 3rd quarter valued at about $168,000. Commonwealth Equity Services LLC boosted its position in shares of Nordstrom by 14.1% during the 3rd quarter. Commonwealth Equity Services LLC now owns 217,449 shares of the specialty retailer’s stock valued at $3,249,000 after acquiring an additional 26,942 shares during the last quarter. New York State Teachers Retirement System boosted its position in shares of Nordstrom by 3.5% during the 3rd quarter. New York State Teachers Retirement System now owns 129,235 shares of the specialty retailer’s stock valued at $1,931,000 after acquiring an additional 4,389 shares during the last quarter. Strs Ohio bought a new stake in shares of Nordstrom during the 3rd quarter valued at about $718,000. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of Nordstrom by 20.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 18,297 shares of the specialty retailer’s stock valued at $273,000 after acquiring an additional 3,099 shares during the last quarter. Institutional investors own 88.73% of the company’s stock.

About Nordstrom

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; mobile application; and clearance stores under the Last Chance name.