Evercore ISI Issues Positive Forecast for Nordstrom (NYSE:JWN) Stock Price

Nordstrom (NYSE:JWN) had its price objective upped by Evercore ISI from $20.00 to $22.00 in a report released on Wednesday,Benzinga reports. The firm currently has an in-line rating on the specialty retailer’s stock.

A number of other equities research analysts have also recently issued reports on JWN. The Goldman Sachs Group boosted their target price on shares of Nordstrom from $19.00 to $21.00 and gave the company a “neutral” rating in a report on Wednesday, August 28th. Telsey Advisory Group upped their price target on shares of Nordstrom from $24.00 to $26.00 and gave the stock a “market perform” rating in a report on Wednesday. Citigroup upped their price target on shares of Nordstrom from $22.00 to $23.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. Barclays raised shares of Nordstrom from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $18.00 to $23.00 in a report on Thursday, September 5th. Finally, TD Cowen upped their price target on shares of Nordstrom from $24.00 to $25.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Nordstrom has a consensus rating of “Hold” and an average price target of $20.65.

Nordstrom Trading Down 8.1 %

Shares of JWN stock opened at $22.62 on Wednesday. The company’s fifty day simple moving average is $22.86 and its two-hundred day simple moving average is $22.23. The company has a debt-to-equity ratio of 2.76, a current ratio of 1.07 and a quick ratio of 0.41. Nordstrom has a 1 year low of $14.80 and a 1 year high of $24.99. The stock has a market capitalization of $3.71 billion, a price-to-earnings ratio of 13.23 and a beta of 2.59.

Nordstrom (NYSE:JWN) last issued its earnings results on Tuesday, November 26th. The specialty retailer reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.11. Nordstrom had a negative net margin of 1.44% and a negative return on equity of 21.26%. The business had revenue of $3.35 billion for the quarter, compared to analysts’ expectations of $3.34 billion. During the same quarter in the previous year, the firm posted $0.25 EPS. The business’s revenue for the quarter was up 4.6% compared to the same quarter last year. As a group, analysts anticipate that Nordstrom will post 1.91 earnings per share for the current year.

Nordstrom Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Tuesday, December 3rd will be paid a $0.19 dividend. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $0.76 dividend on an annualized basis and a yield of 3.36%. Nordstrom’s dividend payout ratio is presently 44.44%.

Insider Activity at Nordstrom

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

Institutional Trading of Nordstrom

Several institutional investors have recently added to or reduced their stakes in JWN. Vanguard Group Inc. boosted its position in Nordstrom by 5.7% during the first quarter. Vanguard Group Inc. now owns 10,653,007 shares of the specialty retailer’s stock valued at $215,936,000 after buying an additional 579,001 shares during the period. CANADA LIFE ASSURANCE Co boosted its position in Nordstrom by 0.6% during the first quarter. CANADA LIFE ASSURANCE Co now owns 90,144 shares of the specialty retailer’s stock valued at $1,828,000 after buying an additional 520 shares during the period. Tidal Investments LLC purchased a new stake in shares of Nordstrom during the first quarter worth about $419,000. Comerica Bank boosted its holdings in shares of Nordstrom by 59.9% during the first quarter. Comerica Bank now owns 75,806 shares of the specialty retailer’s stock worth $1,537,000 after purchasing an additional 28,411 shares during the period. Finally, EMC Capital Management purchased a new stake in shares of Nordstrom during the first quarter worth about $186,000. 88.73% of the stock is currently owned by hedge funds and other institutional investors.

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.