Nordstrom (NYSE:JWN) Issues FY 2024 Earnings Guidance

Nordstrom (NYSE:JWN) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 1.750-2.050 for the period, compared to the consensus earnings per share 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.

Wall Street Analyst Weigh In

A number of analysts have commented on JWN shares. TD Cowen upped their price target on shares of Nordstrom from $24.00 to $25.00 and gave the company a “hold” rating in a research report on Wednesday, August 28th. Citigroup boosted their price target on shares of Nordstrom from $22.00 to $23.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. KeyCorp cut Nordstrom from an “overweight” rating to a “sector weight” rating in a research report on Thursday, September 26th. BMO Capital Markets raised their price target on shares of Nordstrom from $20.00 to $22.00 and gave the company a “market perform” rating in a research report on Wednesday, August 28th. Finally, Telsey Advisory Group reiterated a “market perform” rating and issued a $24.00 price objective on shares of Nordstrom in a research note on Wednesday, November 20th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Nordstrom presently has an average rating of “Hold” and a consensus price target of $20.58.

Nordstrom Price Performance

Nordstrom stock traded down $0.28 during midday trading on Tuesday, hitting $24.62. 4,438,246 shares of the company’s stock were exchanged, compared to its average volume of 3,042,404. The company has a debt-to-equity ratio of 2.76, a quick ratio of 0.41 and a current ratio of 1.07. The stock has a 50-day moving average price of $22.82 and a two-hundred day moving average price of $22.20. The company has a market cap of $4.04 billion, a P/E ratio of 14.58 and a beta of 2.59. Nordstrom has a 52-week low of $14.65 and a 52-week high of $24.99.

Nordstrom (NYSE:JWN) last posted its quarterly earnings data on Tuesday, November 26th. The specialty retailer reported $0.33 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $3.35 billion for the quarter, compared to analysts’ expectations of $3.34 billion. During the same quarter last year, the company posted $0.25 EPS. The business’s quarterly revenue was up 4.6% on a year-over-year basis. On average, equities research analysts forecast that Nordstrom will post 1.91 earnings per share for the current year.

Nordstrom Announces Dividend

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. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $0.76 annualized dividend and a dividend yield of 3.09%. Nordstrom’s dividend payout ratio (DPR) is presently 44.44%.

Insider Buying and Selling

In related news, COO Alexis Depree sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $23.20, for a total transaction of $464,000.00. Following the transaction, the chief operating officer now directly owns 169,331 shares in the company, valued at $3,928,479.20. This trade represents a 10.56 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 5.78% of the stock is currently owned by corporate insiders.

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.