Nordstrom (NYSE:JWN) Receives “Market Perform” Rating from Telsey Advisory Group

Telsey Advisory Group restated their market perform rating on shares of Nordstrom (NYSE:JWN) in a report released on Tuesday, Benzinga reports. They currently have a $23.00 price objective on the specialty retailer’s stock.

Other research analysts have also issued research reports about the stock. Barclays lifted their price target on shares of Nordstrom from $15.00 to $18.00 and gave the company an underweight rating in a research note on Friday, May 31st. JPMorgan Chase & Co. increased their target price on Nordstrom from $15.00 to $17.00 and gave the stock an underweight rating in a report on Friday, May 17th. Bank of America boosted their price target on Nordstrom from $15.00 to $18.00 and gave the company an underperform rating in a report on Friday, May 31st. Evercore ISI increased their price objective on Nordstrom from $17.00 to $19.00 and gave the stock an in-line rating in a report on Friday, May 31st. Finally, StockNews.com upgraded Nordstrom from a hold rating to a buy rating in a research note on Thursday, August 8th. Five research analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of Hold and a consensus price target of $17.75.

Nordstrom Stock Up 2.7 %

Shares of Nordstrom stock opened at $21.73 on Tuesday. The company has a quick ratio of 0.36, a current ratio of 1.03 and a debt-to-equity ratio of 3.13. Nordstrom has a 12 month low of $12.88 and a 12 month high of $24.03. The business has a fifty day simple moving average of $21.93 and a 200 day simple moving average of $20.60. The stock has a market cap of $3.56 billion, a PE ratio of 11.87, a price-to-earnings-growth ratio of 2.55 and a beta of 2.62.

Nordstrom (NYSE:JWN) last posted its earnings results on Thursday, May 30th. The specialty retailer reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.16). Nordstrom had a negative return on equity of 26.45% and a negative net margin of 1.35%. The business had revenue of $3.34 billion for the quarter, compared to the consensus estimate of $3.19 billion. During the same quarter in the prior year, the firm posted $0.07 earnings per share. The business’s revenue was up 4.8% on a year-over-year basis. Research analysts predict that Nordstrom will post 1.79 EPS for the current year.

Nordstrom Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Tuesday, September 3rd will be given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.50%. The ex-dividend date of this dividend is Tuesday, September 3rd. Nordstrom’s dividend payout ratio (DPR) is presently 41.53%.

Institutional Investors Weigh In On Nordstrom

A number of institutional investors and hedge funds have recently modified their holdings of the company. Register Financial Advisors LLC acquired a new position in Nordstrom during the first quarter worth approximately $30,000. Atlas Capital Advisors LLC increased its holdings in shares of Nordstrom by 101.8% during the 2nd quarter. Atlas Capital Advisors LLC now owns 1,491 shares of the specialty retailer’s stock worth $32,000 after acquiring an additional 752 shares during the last quarter. Hexagon Capital Partners LLC increased its holdings in shares of Nordstrom by 77.6% during the 4th quarter. Hexagon Capital Partners LLC now owns 1,989 shares of the specialty retailer’s stock worth $37,000 after acquiring an additional 869 shares during the last quarter. Rothschild Investment LLC bought a new stake in Nordstrom in the 2nd quarter valued at $39,000. Finally, Spire Wealth Management lifted its holdings in Nordstrom by 100.0% during the 1st quarter. Spire Wealth Management now owns 2,200 shares of the specialty retailer’s stock valued at $45,000 after purchasing an additional 1,100 shares during the last quarter. 88.73% of the stock is owned by institutional investors.

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.