Nordstrom, Inc. (NYSE:JWN) Announces $0.19 Quarterly Dividend

Nordstrom, Inc. (NYSE:JWN) announced a quarterly dividend on Wednesday, February 26th, RTT News reports. Stockholders of record on Tuesday, March 11th will be paid a dividend of 0.19 per share by the specialty retailer on Wednesday, March 26th. This represents a $0.76 annualized dividend and a dividend yield of 3.12%.

Nordstrom has a dividend payout ratio of 34.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Nordstrom to earn $2.01 per share next year, which means the company should continue to be able to cover its $0.76 annual dividend with an expected future payout ratio of 37.8%.

Nordstrom Price Performance

Shares of NYSE:JWN opened at $24.34 on Thursday. Nordstrom has a 1-year low of $16.78 and a 1-year high of $24.99. The firm has a market capitalization of $4.02 billion, a PE ratio of 15.50 and a beta of 2.51. The business’s 50 day moving average is $24.22 and its 200-day moving average is $23.22. The company has a current ratio of 1.14, a quick ratio of 0.35 and a debt-to-equity ratio of 2.65.

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, topping the consensus estimate of $0.22 by $0.11. Nordstrom had a negative return on equity of 18.04% and a negative net margin of 1.57%. The company had revenue of $3.35 billion for the quarter, compared to analyst estimates of $3.34 billion. During the same quarter last year, the firm earned $0.25 EPS. Nordstrom’s revenue for the quarter was up 4.6% compared to the same quarter last year. Sell-side analysts predict that Nordstrom will post 1.97 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. StockNews.com assumed coverage on Nordstrom in a research report on Thursday. They set a “buy” rating for the company. UBS Group upgraded Nordstrom from a “sell” rating to a “neutral” rating and raised their target price for the stock from $14.50 to $24.00 in a research report on Friday, January 10th. Barclays raised their target price on Nordstrom from $23.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 16th. Citigroup raised their target price on Nordstrom from $22.00 to $23.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th. Finally, Evercore ISI raised their target price on Nordstrom from $22.00 to $24.00 and gave the stock an “in-line” rating in a research report on Monday, January 13th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $22.17.

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.