Analysts Set Nordstrom, Inc. (NYSE:JWN) Price Target at $17.75

Shares of Nordstrom, Inc. (NYSE:JWN) have been given an average rating of “Reduce” by the twelve analysts that are presently covering the firm, MarketBeat Ratings reports. Five research analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and one has given a buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $17.75.

JWN has been the topic of several research reports. Evercore ISI upped their price objective on Nordstrom from $17.00 to $19.00 and gave the company an “in-line” rating in a research note on Friday, May 31st. Barclays upped their target price on Nordstrom from $15.00 to $18.00 and gave the company an “underweight” rating in a report on Friday, May 31st. Telsey Advisory Group upped their target price on Nordstrom from $19.00 to $23.00 and gave the company a “market perform” rating in a report on Tuesday, July 9th. StockNews.com lowered Nordstrom from a “buy” rating to a “hold” rating in a report on Monday, July 15th. Finally, Bank of America upped their target price on Nordstrom from $15.00 to $18.00 and gave the company an “underperform” rating in a report on Friday, May 31st.

Nordstrom Trading Down 2.4 %

Shares of NYSE JWN opened at $22.67 on Friday. The stock’s 50 day moving average price is $21.76 and its two-hundred day moving average price is $20.00. Nordstrom has a 52-week low of $12.88 and a 52-week high of $24.03. The stock has a market capitalization of $3.71 billion, a P/E ratio of 12.39, a PEG ratio of 2.60 and a beta of 2.62. The company has a quick ratio of 0.36, a current ratio of 1.03 and a debt-to-equity ratio of 3.13.

Nordstrom (NYSE:JWN) last announced its quarterly earnings data on Thursday, May 30th. The specialty retailer reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.16). Nordstrom had a negative net margin of 1.35% and a negative return on equity of 26.45%. The firm had revenue of $3.34 billion for the quarter, compared to analyst estimates of $3.19 billion. During the same quarter in the previous year, the company earned $0.07 EPS. The company’s quarterly revenue was up 4.8% compared to the same quarter last year. On average, analysts anticipate that Nordstrom will post 1.79 earnings per share for the current fiscal year.

Nordstrom Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 19th. Shareholders of record on Tuesday, June 4th were paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 3.35%. The ex-dividend date of this dividend was Tuesday, June 4th. Nordstrom’s payout ratio is currently 41.53%.

Hedge Funds Weigh In On Nordstrom

A number of institutional investors and hedge funds have recently added to or reduced their stakes in JWN. Register Financial Advisors LLC bought a new position in Nordstrom during the 1st quarter valued at $30,000. Hexagon Capital Partners LLC boosted its stake in Nordstrom by 77.6% during the 4th quarter. Hexagon Capital Partners LLC now owns 1,989 shares of the specialty retailer’s stock valued at $37,000 after purchasing an additional 869 shares in the last quarter. Spire Wealth Management boosted its stake in Nordstrom by 100.0% during the 1st quarter. Spire Wealth Management now owns 2,200 shares of the specialty retailer’s stock valued at $45,000 after purchasing an additional 1,100 shares in the last quarter. Blue Trust Inc. boosted its stake in Nordstrom by 10,045.8% during the 2nd quarter. Blue Trust Inc. now owns 2,435 shares of the specialty retailer’s stock valued at $49,000 after purchasing an additional 2,411 shares in the last quarter. Finally, CWM LLC boosted its stake in Nordstrom by 1,000.3% during the 1st quarter. CWM LLC now owns 3,730 shares of the specialty retailer’s stock valued at $76,000 after purchasing an additional 3,391 shares in the last quarter. 88.73% of the stock is owned by 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.