Nordstrom (NYSE:JWN) Earns Buy Rating from Analysts at StockNews.com

StockNews.com began coverage on shares of Nordstrom (NYSE:JWN - Free Report) in a research note released on Thursday morning. The brokerage issued a buy rating on the specialty retailer's stock.

JWN has been the topic of a number of other research reports. Bank of America increased 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. Argus downgraded Nordstrom from a "buy" rating to a "sell" rating in a report on Monday. UBS Group boosted their price objective on shares of Nordstrom from $13.00 to $14.50 and gave the stock a "sell" rating in a research note on Wednesday, November 27th. Telsey Advisory Group lowered their target price on shares of Nordstrom from $26.00 to $24.00 and set a "market perform" rating on the stock in a research note on Tuesday, December 24th. Finally, Citigroup lifted 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. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Nordstrom currently has a consensus rating of "Hold" and a consensus price target of $21.13.

Nordstrom Price Performance

NYSE:JWN remained flat at $24.15 during mid-day trading on Thursday. The company had a trading volume of 4,276,219 shares, compared to its average volume of 3,049,538. The company has a market cap of $3.99 billion, a PE ratio of 15.38 and a beta of 2.56. The company has a fifty day moving average of $23.28 and a 200 day moving average of $22.59. 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 has a 12-month low of $16.63 and a 12-month high of $24.99.

Nordstrom (NYSE:JWN - Get Free Report) last announced its quarterly 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 company had revenue of $3.35 billion for the quarter, compared to analyst estimates of $3.34 billion. Nordstrom had a negative net margin of 1.57% and a negative return on equity of 18.04%. Nordstrom's quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.25 EPS. Equities analysts expect that Nordstrom will post 1.94 EPS for the current year.

Nordstrom Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Tuesday, December 3rd were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.15%. The ex-dividend date was Tuesday, December 3rd. Nordstrom's dividend payout ratio is presently 48.41%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of JWN. Venturi Wealth Management LLC raised its stake in shares of Nordstrom by 355.9% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,272 shares of the specialty retailer's stock valued at $29,000 after buying an additional 993 shares in the last quarter. Rothschild Investment LLC bought a new stake in Nordstrom in the second quarter valued at about $39,000. Point72 Hong Kong Ltd acquired a new position in Nordstrom in the second quarter worth about $71,000. CWM LLC lifted its stake in Nordstrom by 28.7% during the third quarter. CWM LLC now owns 3,628 shares of the specialty retailer's stock worth $82,000 after purchasing an additional 810 shares during the period. Finally, Blue Trust Inc. boosted its holdings in Nordstrom by 57.7% during the third quarter. Blue Trust Inc. now owns 3,839 shares of the specialty retailer's stock valued at $81,000 after purchasing an additional 1,404 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.