Nordstrom (NYSE:JWN) Updates FY 2024 Earnings Guidance

Nordstrom (NYSE:JWN) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided EPS guidance of 1.750-2.050 for the period, compared to the consensus EPS estimate of 1.890. The company issued revenue guidance of $14.7 billion-$14.8 billion, compared to the consensus revenue estimate of $14.8 billion. Nordstrom also updated its FY25 guidance to $1.75-2.05 EPS.

Nordstrom Trading Down 1.1 %

Shares of JWN stock opened at $24.62 on Wednesday. The firm has a fifty day moving average of $22.86 and a 200-day moving average of $22.22. The stock has a market cap of $4.04 billion, a price-to-earnings ratio of 14.40 and a beta of 2.59. Nordstrom has a 52-week low of $14.65 and a 52-week high of $24.99. 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 (NYSE:JWN) last posted its quarterly earnings results 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 during the quarter, compared to analyst estimates of $3.34 billion. Nordstrom had a negative net margin of 1.44% and a negative return on equity of 21.26%. The company’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.25 earnings per share. On average, equities research analysts forecast that Nordstrom will post 1.91 earnings per share for the current fiscal year.

Nordstrom Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Tuesday, December 3rd will be given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date is Tuesday, December 3rd. Nordstrom’s dividend payout ratio (DPR) is 44.44%.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. StockNews.com raised Nordstrom from a “hold” rating to a “buy” rating in a report on Thursday, August 8th. TD Cowen lifted their price target on shares of Nordstrom from $24.00 to $25.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. JPMorgan Chase & Co. upped their price objective on shares of Nordstrom from $19.00 to $20.00 and gave the stock an “underweight” rating in a research note on Wednesday, August 28th. Barclays upgraded shares of Nordstrom from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $18.00 to $23.00 in a research note on Thursday, September 5th. Finally, BMO Capital Markets increased their price target on Nordstrom from $20.00 to $22.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 28th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $20.75.

Insider Buying and Selling

In other news, COO Alexis Depree sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $23.20, for a total value of $464,000.00. Following the transaction, the chief operating officer now owns 169,331 shares of the company’s stock, valued at approximately $3,928,479.20. This trade represents a 10.56 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 5.78% of the company’s stock.

Nordstrom Company Profile

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.