Nordstrom (NYSE:JWN) Issues FY 2024 Earnings Guidance

Nordstrom (NYSE:JWN) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 1.750-2.050 for the period, compared to the consensus 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.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. KeyCorp lowered shares of Nordstrom from an “overweight” rating to a “sector weight” rating in a report on Thursday, September 26th. JPMorgan Chase & Co. lifted their target price on Nordstrom from $19.00 to $20.00 and gave the stock an “underweight” rating in a report on Wednesday, August 28th. TD Cowen increased their price target on Nordstrom from $24.00 to $25.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Barclays upgraded Nordstrom from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $18.00 to $23.00 in a report on Thursday, September 5th. Finally, The Goldman Sachs Group increased their target price on Nordstrom from $19.00 to $21.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 28th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $20.75.

Nordstrom Stock Down 1.1 %

Nordstrom stock opened at $24.62 on Wednesday. The company has a current ratio of 1.07, a quick ratio of 0.41 and a debt-to-equity ratio of 2.76. Nordstrom has a 1-year low of $14.65 and a 1-year high of $24.99. The company has a fifty day simple moving average of $22.86 and a 200 day simple moving average of $22.22. The company has a market cap of $4.04 billion, a P/E ratio of 14.40 and a beta of 2.59.

Nordstrom (NYSE:JWN) last announced its quarterly earnings data on Tuesday, November 26th. The specialty retailer reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.11. Nordstrom had a negative return on equity of 21.26% and a negative net margin of 1.44%. The company had revenue of $3.35 billion during the quarter, compared to analysts’ expectations of $3.34 billion. During the same quarter last year, the company earned $0.25 EPS. Nordstrom’s revenue for the quarter was up 4.6% compared to the same quarter last year. Research analysts anticipate that Nordstrom will post 1.91 earnings per share for the current fiscal year.

Nordstrom Announces Dividend

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

Insider Activity at Nordstrom

In other Nordstrom news, COO Alexis Depree sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $23.20, for a total transaction of $464,000.00. Following the transaction, the chief operating officer now owns 169,331 shares of the company’s stock, valued at $3,928,479.20. The trade was a 10.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.78% of the stock is owned by company insiders.

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.