Nordstrom (NYSE:JWN) Stock Price Expected to Rise, Evercore ISI Analyst Says

Nordstrom (NYSE:JWN) had its target price raised by Evercore ISI from $22.00 to $24.00 in a research note published on Monday morning,Benzinga reports. The brokerage currently has an in-line rating on the specialty retailer’s stock.

A number of other brokerages have also commented on JWN. StockNews.com initiated coverage on Nordstrom in a research report on Friday, January 10th. They issued a “buy” rating for the company. Argus downgraded shares of Nordstrom from a “buy” rating to a “sell” rating in a research note on Monday, December 30th. Citigroup raised their price objective on shares of Nordstrom from $22.00 to $23.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. KeyCorp cut shares of Nordstrom from an “overweight” rating to a “sector weight” rating in a research report on Thursday, September 26th. Finally, UBS Group upgraded Nordstrom from a “sell” rating to a “neutral” rating and raised their price target for the stock from $14.50 to $24.00 in a research report on Friday, January 10th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $22.08.

Nordstrom Price Performance

Shares of JWN stock opened at $24.14 on Monday. Nordstrom has a 1 year low of $16.78 and a 1 year high of $24.99. The company has a current ratio of 1.14, a quick ratio of 0.35 and a debt-to-equity ratio of 2.65. The firm’s 50 day moving average is $23.49 and its 200-day moving average is $22.77. The firm has a market capitalization of $3.98 billion, a price-to-earnings ratio of 15.38 and a beta of 2.52.

Nordstrom (NYSE:JWN) last posted its quarterly earnings data on Tuesday, November 26th. The specialty retailer reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.11. The firm had revenue of $3.35 billion for the quarter, compared to the consensus estimate of $3.34 billion. Nordstrom had a negative return on equity of 18.04% and a negative net margin of 1.57%. The business’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.25 EPS. Sell-side analysts forecast that Nordstrom will post 1.95 EPS for the current fiscal year.

Nordstrom Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Tuesday, December 3rd were paid a $0.19 dividend. The ex-dividend date was Tuesday, December 3rd. This represents a $0.76 dividend on an annualized basis and a yield of 3.15%. Nordstrom’s payout ratio is 48.41%.

Institutional Investors Weigh In On Nordstrom

A number of hedge funds have recently modified their holdings of the business. Quantinno Capital Management LP grew its position in shares of Nordstrom by 49.3% in the 3rd quarter. Quantinno Capital Management LP now owns 145,146 shares of the specialty retailer’s stock valued at $3,264,000 after purchasing an additional 47,923 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Nordstrom by 17.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,422,856 shares of the specialty retailer’s stock valued at $32,000,000 after buying an additional 208,193 shares in the last quarter. Point72 Asset Management L.P. boosted its holdings in shares of Nordstrom by 190.1% in the third quarter. Point72 Asset Management L.P. now owns 59,678 shares of the specialty retailer’s stock valued at $1,342,000 after buying an additional 39,104 shares during the period. JPMorgan Chase & Co. increased its position in shares of Nordstrom by 29.7% during the third quarter. JPMorgan Chase & Co. now owns 388,796 shares of the specialty retailer’s stock worth $8,744,000 after acquiring an additional 89,114 shares in the last quarter. Finally, Sanctuary Advisors LLC raised its holdings in shares of Nordstrom by 160.9% during the third quarter. Sanctuary Advisors LLC now owns 51,071 shares of the specialty retailer’s stock worth $1,187,000 after acquiring an additional 31,498 shares during the period. Institutional investors and hedge funds own 88.73% of the company’s stock.

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.