Nordstrom (NYSE:JWN) Earns Buy Rating from Analysts at StockNews.com

StockNews.com assumed coverage on shares of Nordstrom (NYSE:JWN) in a report released on Sunday morning. The brokerage issued a buy rating on the specialty retailer’s stock.

Several other analysts also recently weighed in on the company. Evercore ISI boosted their price target on Nordstrom from $22.00 to $24.00 and gave the company an “in-line” rating in a research note on Monday, January 13th. Bank of America boosted their price target on Nordstrom from $20.00 to $22.00 and gave the company an “underperform” rating in a research note on Wednesday, November 27th. Telsey Advisory Group restated a “market perform” rating and issued a $24.00 target price on shares of Nordstrom in a research note on Monday, January 13th. UBS Group upgraded Nordstrom from a “sell” rating to a “neutral” rating and upped their target price for the stock from $14.50 to $24.00 in a research note on Friday, January 10th. Finally, Argus downgraded Nordstrom from a “buy” rating to a “sell” rating in a research note on Monday, December 30th. Three 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. According to data from MarketBeat, Nordstrom has an average rating of “Hold” and an average target price of $22.17.

Nordstrom Stock Performance

NYSE:JWN opened at $24.24 on Friday. The company has a market cap of $4.00 billion, a price-to-earnings ratio of 15.44 and a beta of 2.52. The company has a debt-to-equity ratio of 2.65, a current ratio of 1.14 and a quick ratio of 0.35. The stock’s 50 day simple moving average is $23.71 and its two-hundred day simple moving average is $22.91. Nordstrom has a 1 year low of $16.78 and a 1 year high of $24.99.

Nordstrom (NYSE:JWN) last issued its earnings results on Tuesday, November 26th. The specialty retailer reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.11. The business had revenue of $3.35 billion during the quarter, compared to analyst estimates of $3.34 billion. Nordstrom had a negative return on equity of 18.04% and a negative net margin of 1.57%. Nordstrom’s revenue was up 4.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.25 EPS. As a group, equities analysts anticipate that Nordstrom will post 1.97 earnings per share for the current fiscal year.

Nordstrom Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Tuesday, December 3rd were paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 3.14%. The ex-dividend date was Tuesday, December 3rd. Nordstrom’s dividend payout ratio (DPR) is 48.41%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Hennessy Advisors Inc. acquired a new position in Nordstrom in the 4th quarter valued at $56,026,000. Geode Capital Management LLC raised its holdings in shares of Nordstrom by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,625,616 shares of the specialty retailer’s stock worth $36,570,000 after purchasing an additional 5,407 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Nordstrom by 17.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,422,856 shares of the specialty retailer’s stock worth $32,000,000 after purchasing an additional 208,193 shares during the period. Verition Fund Management LLC increased its position in Nordstrom by 147.4% during the 3rd quarter. Verition Fund Management LLC now owns 1,218,365 shares of the specialty retailer’s stock worth $27,401,000 after purchasing an additional 725,803 shares in the last quarter. Finally, Axiom Advisory LLC lifted its position in Nordstrom by 46.0% during the third quarter. Axiom Advisory LLC now owns 1,100,864 shares of the specialty retailer’s stock valued at $24,456,000 after buying an additional 346,994 shares in the last quarter. 88.73% of the stock is currently owned by institutional investors and hedge funds.

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.