Nordstrom, Inc. (NYSE:JWN – Get Rating) – Analysts at Zacks Research dropped their Q2 2024 earnings per share estimates for shares of Nordstrom in a research note issued to investors on Wednesday, June 14th. Zacks Research analyst R. Lohia now forecasts that the specialty retailer will post earnings per share of $0.36 for the quarter, down from their prior estimate of $0.48. The consensus estimate for Nordstrom’s current full-year earnings is $2.00 per share. Zacks Research also issued estimates for Nordstrom’s Q3 2024 earnings at $0.31 EPS, Q4 2024 earnings at $1.17 EPS, FY2024 earnings at $1.90 EPS, Q1 2025 earnings at $0.05 EPS, FY2025 earnings at $1.96 EPS, Q1 2026 earnings at $0.07 EPS and FY2026 earnings at $2.16 EPS.
Several other equities analysts also recently weighed in on JWN. Morgan Stanley reduced their target price on Nordstrom from $18.00 to $16.00 in a research report on Friday, June 2nd. Deutsche Bank Aktiengesellschaft upped their price target on shares of Nordstrom from $17.00 to $19.00 in a research report on Thursday, June 1st. Citigroup dropped their price target on shares of Nordstrom from $20.00 to $17.00 in a research report on Thursday, May 25th. Telsey Advisory Group upped their price target on shares of Nordstrom from $19.00 to $21.00 and gave the stock a “market perform” rating in a research report on Friday, March 3rd. Finally, TheStreet downgraded Nordstrom from a “c+” rating to a “d+” rating in a research report on Wednesday, May 31st. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $18.75.
Nordstrom Stock Performance
Nordstrom (NYSE:JWN – Get Rating) last announced its earnings results on Wednesday, May 31st. The specialty retailer reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.19. Nordstrom had a net margin of 0.13% and a return on equity of 46.05%. The firm had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.11 billion. During the same quarter last year, the business earned ($0.06) earnings per share.
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in JWN. Prudential Financial Inc. lifted its position in shares of Nordstrom by 3.4% during the first quarter. Prudential Financial Inc. now owns 12,666 shares of the specialty retailer’s stock worth $344,000 after purchasing an additional 415 shares during the last quarter. Spire Wealth Management lifted its position in shares of Nordstrom by 37.0% during the fourth quarter. Spire Wealth Management now owns 1,596 shares of the specialty retailer’s stock worth $26,000 after purchasing an additional 431 shares during the last quarter. HighTower Advisors LLC lifted its position in shares of Nordstrom by 0.8% during the first quarter. HighTower Advisors LLC now owns 58,656 shares of the specialty retailer’s stock worth $1,592,000 after purchasing an additional 494 shares during the last quarter. Guggenheim Capital LLC lifted its position in shares of Nordstrom by 4.2% during the first quarter. Guggenheim Capital LLC now owns 14,001 shares of the specialty retailer’s stock worth $380,000 after purchasing an additional 568 shares during the last quarter. Finally, Treasurer of the State of North Carolina lifted its position in shares of Nordstrom by 1.3% during the fourth quarter. Treasurer of the State of North Carolina now owns 48,565 shares of the specialty retailer’s stock worth $784,000 after purchasing an additional 620 shares during the last quarter. 66.41% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling at Nordstrom
In other Nordstrom news, insider Teri Bariquit sold 25,000 shares of the company’s stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $19.51, for a total value of $487,750.00. Following the completion of the transaction, the insider now directly owns 56,853 shares of the company’s stock, valued at approximately $1,109,202.03. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 5.90% of the stock is currently owned by corporate insiders.
Nordstrom Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 14th. Shareholders of record on Tuesday, May 30th were given a $0.19 dividend. The ex-dividend date of this dividend was Friday, May 26th. This represents a $0.76 dividend on an annualized basis and a yield of 3.99%. Nordstrom’s payout ratio is currently 690.91%.
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; and clearance stores under the Last Chance name.
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