Nordstrom (NYSE:JWN) Updates FY 2022 Earnings Guidance

Nordstrom (NYSE:JWNGet Rating) issued an update on its FY 2022 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $2.30-$2.60 for the period, compared to the consensus earnings per share estimate of $3.05. The company issued revenue guidance of $15.53 billion-$15.82 billion, compared to the consensus revenue estimate of $15.77 billion.

Nordstrom Stock Performance

NYSE JWN traded down $0.73 on Friday, hitting $17.64. The stock had a trading volume of 207,342 shares, compared to its average volume of 8,837,194. Nordstrom has a one year low of $16.83 and a one year high of $36.43. The company has a quick ratio of 0.34, a current ratio of 1.01 and a debt-to-equity ratio of 4.30. The stock has a market cap of $2.81 billion, a price-to-earnings ratio of 7.10, a P/E/G ratio of 1.36 and a beta of 2.26. The company’s 50-day moving average is $21.28 and its two-hundred day moving average is $23.80.

Nordstrom (NYSE:JWNGet Rating) last posted its earnings results on Tuesday, August 23rd. The specialty retailer reported $0.81 EPS for the quarter, topping the consensus estimate of $0.80 by $0.01. Nordstrom had a net margin of 2.60% and a return on equity of 70.36%. During the same period in the previous year, the business posted $0.49 earnings per share. On average, analysts expect that Nordstrom will post 2.36 earnings per share for the current year.

Nordstrom Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 14th. Stockholders of record on Tuesday, August 30th were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 4.31%. The ex-dividend date was Monday, August 29th. Nordstrom’s dividend payout ratio (DPR) is presently 30.16%.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Bank of America cut their target price on shares of Nordstrom from $21.00 to $15.00 and set an underperform rating for the company in a research note on Thursday, July 7th. Morgan Stanley cut their target price on shares of Nordstrom from $19.00 to $18.00 and set an underweight rating for the company in a research note on Wednesday, August 24th. KeyCorp began coverage on shares of Nordstrom in a research report on Wednesday, July 20th. They issued an overweight rating and a $30.00 price target for the company. Piper Sandler decreased their price objective on shares of Nordstrom from $28.00 to $26.00 and set an overweight rating for the company in a research note on Wednesday, August 24th. Finally, Citigroup decreased their price objective on shares of Nordstrom from $22.00 to $21.00 in a research note on Wednesday, August 24th. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of Hold and a consensus target price of $25.53.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Renaissance Technologies LLC boosted its position in shares of Nordstrom by 240.8% during the 1st quarter. Renaissance Technologies LLC now owns 1,988,500 shares of the specialty retailer’s stock valued at $53,908,000 after acquiring an additional 1,405,000 shares in the last quarter. Bank of America Corp DE boosted its position in shares of Nordstrom by 204.5% during the 1st quarter. Bank of America Corp DE now owns 772,038 shares of the specialty retailer’s stock valued at $20,930,000 after acquiring an additional 518,510 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in shares of Nordstrom during the 2nd quarter valued at about $202,000. State Street Corp boosted its position in shares of Nordstrom by 5.5% during the 1st quarter. State Street Corp now owns 4,552,284 shares of the specialty retailer’s stock valued at $124,245,000 after acquiring an additional 239,120 shares in the last quarter. Finally, BNP Paribas Arbitrage SA boosted its position in shares of Nordstrom by 37.8% during the 1st quarter. BNP Paribas Arbitrage SA now owns 688,374 shares of the specialty retailer’s stock valued at $18,662,000 after acquiring an additional 188,771 shares in the last quarter. Institutional investors own 59.36% of the company’s stock.

Nordstrom Company Profile

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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; TrunkClub.com; Nordstrom.ca; Nordstrom stores; Nordstrom Rack stores; Nordstrom Locals; Nordstromrack.com and HauteLook; clearance stores under the Last Chance name; Trunk Club clubhouses; and Jeffrey boutiques.

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Earnings History and Estimates for Nordstrom (NYSE:JWN)

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