Nordstrom (NYSE:JWN) Issues FY 2024 Earnings Guidance

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

Nordstrom Stock Down 8.1 %

Shares of JWN stock opened at $22.62 on Friday. Nordstrom has a 52-week low of $14.80 and a 52-week high of $24.99. The stock has a market cap of $3.71 billion, a price-to-earnings ratio of 14.41 and a beta of 2.59. The firm’s 50-day moving average is $22.85 and its 200-day moving average is $22.23. The company has a debt-to-equity ratio of 2.65, a quick ratio of 0.41 and a current ratio of 1.14.

Nordstrom (NYSE:JWN) last released its quarterly earnings data on Tuesday, November 26th. The specialty retailer reported $0.33 earnings per share (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 firm had revenue of $3.35 billion for the quarter, compared to analyst estimates of $3.34 billion. During the same quarter in the prior year, the company earned $0.25 earnings per share. The business’s revenue for the quarter was up 4.6% compared to the same quarter last year. Sell-side analysts predict that Nordstrom will post 1.93 EPS for the current year.

Nordstrom Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Tuesday, December 3rd will be issued a $0.19 dividend. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $0.76 annualized dividend and a yield of 3.36%. Nordstrom’s dividend payout ratio is currently 48.41%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on JWN shares. Citigroup boosted their price target on Nordstrom from $22.00 to $23.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. StockNews.com upgraded shares of Nordstrom from a “buy” rating to a “strong-buy” rating in a research note on Wednesday. Telsey Advisory Group lifted their price objective on shares of Nordstrom from $24.00 to $26.00 and gave the stock a “market perform” rating in a research note on Wednesday. JPMorgan Chase & Co. increased their target price on shares of Nordstrom from $19.00 to $20.00 and gave the stock an “underweight” rating in a research report on Wednesday, August 28th. Finally, Bank of America lifted their price target on shares of Nordstrom from $20.00 to $22.00 and gave the company an “underperform” rating in a research report on Wednesday. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $21.29.

Insider Activity

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

About Nordstrom

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.