Equities Analysts Issue Forecasts for Nordstrom, Inc.’s FY2023 Earnings (NYSE:JWN)

Nordstrom, Inc. (NYSE:JWNGet Rating) – Telsey Advisory Group boosted their FY2023 earnings estimates for shares of Nordstrom in a research report issued to clients and investors on Wednesday, November 23rd. Telsey Advisory Group analyst D. Telsey now forecasts that the specialty retailer will post earnings per share of $2.42 for the year, up from their previous forecast of $2.40. Telsey Advisory Group currently has a “Market Perform” rating and a $25.00 target price on the stock. The consensus estimate for Nordstrom’s current full-year earnings is $2.32 per share. Telsey Advisory Group also issued estimates for Nordstrom’s Q4 2023 earnings at $1.48 EPS, Q2 2024 earnings at $0.86 EPS and Q4 2024 earnings at $1.52 EPS.

Nordstrom (NYSE:JWNGet Rating) last issued its quarterly earnings results on Tuesday, November 22nd. The specialty retailer reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.06. The business had revenue of $3.50 billion for the quarter, compared to analysts’ expectations of $3.49 billion. Nordstrom had a net margin of 2.08% and a return on equity of 57.97%. The company’s revenue was down 3.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.39 EPS.

A number of other research analysts have also recently weighed in on JWN. Credit Suisse Group lowered their target price on shares of Nordstrom from $21.00 to $20.00 and set a “neutral” rating on the stock in a research note on Wednesday. StockNews.com upgraded shares of Nordstrom from a “hold” rating to a “buy” rating in a research note on Wednesday. Jefferies Financial Group upgraded shares of Nordstrom from a “hold” rating to a “buy” rating and lifted their target price for the company from $21.00 to $24.00 in a research note on Thursday, September 15th. Barclays lowered their target price on shares of Nordstrom from $21.00 to $18.00 and set an “underweight” rating on the stock in a research note on Thursday, August 25th. Finally, Piper Sandler lowered their target price on shares of Nordstrom from $28.00 to $26.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 24th. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $24.00.

Nordstrom Trading Down 4.2 %

Shares of Nordstrom stock opened at $21.69 on Thursday. The company’s fifty day simple moving average is $19.52 and its 200-day simple moving average is $21.55. The stock has a market capitalization of $3.45 billion, a PE ratio of 10.85, a P/E/G ratio of 1.63 and a beta of 2.17. Nordstrom has a 1-year low of $16.14 and a 1-year high of $29.59. The company has a debt-to-equity ratio of 4.30, a current ratio of 1.01 and a quick ratio of 0.34.

Nordstrom Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 14th. Stockholders of record on Tuesday, November 29th will be issued a $0.19 dividend. The ex-dividend date of this dividend is Monday, November 28th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.50%. Nordstrom’s dividend payout ratio (DPR) is presently 38.00%.

Institutional Trading of Nordstrom

A number of large investors have recently made changes to their positions in JWN. Park Avenue Securities LLC bought a new stake in shares of Nordstrom in the 1st quarter worth about $268,000. Mutual of America Capital Management LLC grew its holdings in Nordstrom by 2.2% during the 1st quarter. Mutual of America Capital Management LLC now owns 101,705 shares of the specialty retailer’s stock valued at $2,757,000 after purchasing an additional 2,191 shares during the last quarter. State of New Jersey Common Pension Fund D grew its holdings in Nordstrom by 45.5% during the 1st quarter. State of New Jersey Common Pension Fund D now owns 124,799 shares of the specialty retailer’s stock valued at $3,383,000 after purchasing an additional 39,013 shares during the last quarter. First National Trust Co bought a new position in Nordstrom during the 1st quarter valued at about $209,000. Finally, Envestnet Asset Management Inc. grew its holdings in Nordstrom by 19.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 228,333 shares of the specialty retailer’s stock valued at $6,190,000 after purchasing an additional 36,640 shares during the last quarter. 59.36% of the stock is currently owned by institutional investors.

About Nordstrom

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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 and Estimates for Nordstrom (NYSE:JWN)

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