Nordstrom’s (JWN) “Market Perform” Rating Reaffirmed at Telsey Advisory Group

Telsey Advisory Group restated their market perform rating on shares of Nordstrom (NYSE:JWN) in a report released on Wednesday,Benzinga reports. The firm currently has a $24.00 target price on the specialty retailer’s stock.

Several other research analysts also recently weighed in on JWN. Argus downgraded shares of Nordstrom from a “buy” rating to a “sell” rating in a report on Monday, December 30th. Citigroup upped their target price 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 upped their target price on shares of Nordstrom from $23.00 to $24.00 and gave the stock an “equal weight” rating in a report on Thursday, January 16th. UBS Group raised shares of Nordstrom from a “sell” rating to a “neutral” rating and upped their target price for the stock from $14.50 to $24.00 in a report on Friday, January 10th. Finally, Evercore ISI increased their price objective on shares of Nordstrom from $22.00 to $24.00 and gave the company an “in-line” rating in a report on Monday, January 13th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Nordstrom currently has a consensus rating of “Hold” and a consensus target price of $22.17.

Nordstrom Trading Up 0.4 %

NYSE:JWN opened at $24.35 on Wednesday. The company has a debt-to-equity ratio of 2.65, a current ratio of 1.14 and a quick ratio of 0.35. The firm has a market capitalization of $4.02 billion, a price-to-earnings ratio of 15.51 and a beta of 2.51. Nordstrom has a one year low of $16.78 and a one year high of $24.99. The business has a fifty day moving average price of $24.23 and a 200-day moving average price of $23.30.

Nordstrom (NYSE:JWN) last issued its earnings results on Tuesday, March 4th. The specialty retailer reported $1.10 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.20. The company had revenue of $4.32 billion during the quarter, compared to the consensus estimate of $4.32 billion. Nordstrom had a negative net margin of 1.57% and a negative return on equity of 18.04%. Sell-side analysts forecast that Nordstrom will post 1.97 EPS for the current year.

Nordstrom Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Tuesday, March 11th will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date of this dividend is Tuesday, March 11th. Nordstrom’s payout ratio is 48.41%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Pinnacle Wealth Planning Services Inc. bought a new position in shares of Nordstrom in the 4th quarter valued at about $228,000. Michels Family Financial LLC bought a new position in shares of Nordstrom in the 4th quarter valued at about $724,000. BCK Capital Management LP bought a new position in shares of Nordstrom in the 4th quarter valued at about $712,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Nordstrom by 16.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 360,627 shares of the specialty retailer’s stock valued at $8,709,000 after acquiring an additional 50,049 shares during the last quarter. Finally, Towle & Co. bought a new position in shares of Nordstrom in the 4th quarter valued at about $2,044,000. Institutional investors own 88.73% 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.