Nordstrom (NYSE:JWN) Posts Earnings Results, Beats Expectations By $0.11 EPS

Nordstrom (NYSE:JWN) released its earnings results on Tuesday. The specialty retailer reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.11, Briefing.com reports. Nordstrom had a negative net margin of 1.44% and a negative return on equity of 21.26%. The business had revenue of $3.35 billion during the quarter, compared to analysts’ expectations of $3.34 billion. During the same period last year, the business earned $0.25 earnings per share. The firm’s revenue was up 4.6% on a year-over-year basis. Nordstrom updated its FY25 guidance to $1.75-2.05 EPS.

Nordstrom Price Performance

Shares of NYSE JWN traded down $0.28 during trading hours on Tuesday, hitting $24.62. 4,259,878 shares of the stock were exchanged, compared to its average volume of 3,041,560. The company’s fifty day simple moving average is $22.82 and its two-hundred day simple moving average is $22.20. The company has a debt-to-equity ratio of 2.76, a quick ratio of 0.41 and a current ratio of 1.07. Nordstrom has a 1-year low of $14.65 and a 1-year high of $24.99. The company has a market cap of $4.04 billion, a PE ratio of 14.58 and a beta of 2.59.

Nordstrom Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Tuesday, December 3rd will be given a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 3.09%. The ex-dividend date of this dividend is Tuesday, December 3rd. Nordstrom’s payout ratio is presently 44.44%.

Insider Buying and Selling at Nordstrom

In related news, COO Alexis Depree sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $23.20, for a total value of $464,000.00. Following the sale, the chief operating officer now directly owns 169,331 shares of the company’s stock, valued at $3,928,479.20. This trade represents a 10.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 5.78% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. JPMorgan Chase & Co. upped their price objective on shares of Nordstrom from $19.00 to $20.00 and gave the company an “underweight” rating in a report on Wednesday, August 28th. BMO Capital Markets boosted their price objective on Nordstrom from $20.00 to $22.00 and gave the stock a “market perform” rating in a report on Wednesday, August 28th. KeyCorp cut Nordstrom from an “overweight” rating to a “sector weight” rating in a report on Thursday, September 26th. TD Cowen boosted their price target on Nordstrom from $24.00 to $25.00 and gave the company a “hold” rating in a research note on Wednesday, August 28th. Finally, Barclays raised Nordstrom from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $18.00 to $23.00 in a report on Thursday, September 5th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Nordstrom currently has an average rating of “Hold” and an average target price of $20.58.

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.