Nordstrom (NYSE:JWN – Get 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
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
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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