Nordstrom (NYSE:JWN) Updates FY 2024 Earnings Guidance

Nordstrom (NYSE:JWN) updated its FY 2024 earnings guidance on Tuesday. 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.

Nordstrom Price Performance

JWN stock opened at $22.62 on Friday. The company has a debt-to-equity ratio of 2.65, a quick ratio of 0.41 and a current ratio of 1.14. Nordstrom has a 52-week low of $14.80 and a 52-week high of $24.99. The company has a market capitalization of $3.71 billion, a P/E ratio of 14.41 and a beta of 2.59. The company has a fifty day moving average price of $22.85 and a 200-day moving average price of $22.23.

Nordstrom (NYSE:JWN) last announced its earnings results on Tuesday, November 26th. The specialty retailer reported $0.33 EPS for the quarter, topping the consensus estimate of $0.22 by $0.11. The firm had revenue of $3.35 billion for the quarter, compared to the consensus estimate of $3.34 billion. Nordstrom had a negative return on equity of 18.04% and a negative net margin of 1.57%. The business’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.25 EPS. As a group, equities analysts expect that Nordstrom will post 1.93 EPS for the current year.

Nordstrom Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Tuesday, December 3rd will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 3.36%. The ex-dividend date is Tuesday, December 3rd. Nordstrom’s dividend payout ratio (DPR) is presently 48.41%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. UBS Group boosted their target price on shares of Nordstrom from $13.00 to $14.50 and gave the company a “sell” rating in a report on Wednesday. Citigroup upped their target price on Nordstrom from $22.00 to $23.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th. JPMorgan Chase & Co. boosted their price target on Nordstrom from $19.00 to $20.00 and gave the company an “underweight” rating in a research note on Wednesday, August 28th. StockNews.com raised shares of Nordstrom from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. Finally, TD Cowen increased their target price on shares of Nordstrom from $24.00 to $25.00 and gave the stock a “hold” rating in a research note on Wednesday, August 28th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $21.29.

Insider Transactions at Nordstrom

In other Nordstrom news, COO Alexis Depree sold 20,000 shares of Nordstrom stock in a transaction that occurred on Tuesday, September 24th. The shares were 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. This trade represents a 10.56 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company 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.