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

Nordstrom, Inc. (NYSE:JWN) announced a quarterly dividend on Wednesday, February 26th, RTT News reports. Stockholders of record on Tuesday, March 11th will be given 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 payout ratio of 34.1% meaning 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 Stock Up 0.1 %

NYSE JWN opened at $24.34 on Thursday. The stock has a fifty day moving average of $24.22 and a 200-day moving average of $23.22. The stock has a market capitalization of $4.02 billion, a P/E ratio of 15.50 and a beta of 2.51. Nordstrom has a 52 week low of $16.78 and a 52 week high of $24.99. The company has a debt-to-equity ratio of 2.65, a quick ratio of 0.35 and a current ratio of 1.14.

Nordstrom (NYSE:JWN) last released its earnings results on Tuesday, November 26th. The specialty retailer reported $0.33 EPS for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $3.34 billion. During the same period last year, the firm earned $0.25 EPS. The business’s revenue for the quarter was up 4.6% on a year-over-year basis. On average, equities research analysts forecast that Nordstrom will post 1.97 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Argus downgraded Nordstrom from a “buy” rating to a “sell” rating in a report on Monday, December 30th. Telsey Advisory Group reiterated a “market perform” rating and issued a $24.00 price objective on shares of Nordstrom in a report on Tuesday. Citigroup upped their price objective on Nordstrom from $22.00 to $23.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th. Evercore ISI upped their price objective on Nordstrom from $22.00 to $24.00 and gave the company an “in-line” rating in a report on Monday, January 13th. Finally, Bank of America upped their price objective on Nordstrom from $20.00 to $22.00 and gave the company an “underperform” rating in a report on Wednesday, November 27th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average 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.