Nordstrom (NYSE:JWN) Releases Quarterly Earnings Results, Beats Estimates By $0.06 EPS

Nordstrom (NYSE:JWNGet Rating) announced its quarterly earnings data on Tuesday. The specialty retailer reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.06, RTT News reports. The company had revenue of $3.50 billion during the quarter, compared to analysts’ expectations of $3.49 billion. Nordstrom had a return on equity of 57.97% and a net margin of 2.08%. Nordstrom’s revenue for the quarter was down 3.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.39 EPS. Nordstrom updated its FY23 guidance to $2.30-$2.60 EPS.

Nordstrom Stock Down 4.2 %

Shares of JWN opened at $21.69 on Thursday. Nordstrom has a one year low of $16.14 and a one year high of $29.59. The company has a market cap of $3.45 billion, a P/E ratio of 10.85, a P/E/G ratio of 1.63 and a beta of 2.17. The company has a debt-to-equity ratio of 4.30, a current ratio of 1.01 and a quick ratio of 0.34. The firm has a 50 day simple moving average of $19.52 and a two-hundred day simple moving average of $21.55.

Nordstrom Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 14th. Shareholders of record on Tuesday, November 29th will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Monday, November 28th. This represents a $0.76 annualized dividend and a yield of 3.50%. Nordstrom’s dividend payout ratio is currently 38.00%.

Analyst Upgrades and Downgrades

JWN has been the subject of several analyst reports. Telsey Advisory Group decreased their price objective on Nordstrom from $28.00 to $25.00 and set a “market perform” rating for the company in a report on Wednesday, August 24th. Credit Suisse Group 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. Citigroup decreased their price objective on Nordstrom from $22.00 to $21.00 in a report on Wednesday, August 24th. Deutsche Bank Aktiengesellschaft decreased their price objective on Nordstrom from $23.00 to $22.00 and set a “hold” rating for the company in a report on Monday, November 14th. Finally, StockNews.com upgraded Nordstrom from a “hold” rating to a “buy” rating in a report on Wednesday. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $24.00.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Captrust Financial Advisors grew its stake in shares of Nordstrom by 44.9% during the second quarter. Captrust Financial Advisors now owns 2,738 shares of the specialty retailer’s stock worth $58,000 after buying an additional 849 shares during the last quarter. Bridgefront Capital LLC bought a new stake in shares of Nordstrom during the first quarter worth $222,000. Atlas Capital Advisors LLC bought a new stake in shares of Nordstrom during the second quarter worth $207,000. Quantamental Technologies LLC bought a new stake in shares of Nordstrom during the first quarter worth $278,000. Finally, Atria Wealth Solutions Inc. bought a new stake in shares of Nordstrom during the first quarter worth $285,000. 59.36% of the stock is currently owned by institutional investors and hedge funds.

Nordstrom Company Profile

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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 for Nordstrom (NYSE:JWN)

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