Nordstrom, Inc. (NYSE:JWN) Announces Quarterly Dividend of $0.19

Nordstrom, Inc. (NYSE:JWN) announced a quarterly dividend on Wednesday, May 22nd, RTT News reports. Stockholders of record on Tuesday, June 4th will be given a dividend of 0.19 per share by the specialty retailer on Wednesday, June 19th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.56%.

Nordstrom has raised its dividend by an average of 27.1% annually over the last three years and has increased its dividend annually for the last 1 consecutive years. Nordstrom has a dividend payout ratio of 40.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Nordstrom to earn $1.78 per share next year, which means the company should continue to be able to cover its $0.76 annual dividend with an expected future payout ratio of 42.7%.

Nordstrom Stock Up 0.6 %

JWN opened at $21.33 on Thursday. The company has a market capitalization of $3.48 billion, a P/E ratio of 26.66, a P/E/G ratio of 2.40 and a beta of 2.59. The company has a debt-to-equity ratio of 3.08, a current ratio of 1.02 and a quick ratio of 0.41. The firm’s fifty day moving average price is $19.51 and its two-hundred day moving average price is $18.35. Nordstrom has a fifty-two week low of $12.88 and a fifty-two week high of $23.53.

Nordstrom (NYSE:JWN) last issued its earnings results on Tuesday, March 5th. The specialty retailer reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.06. Nordstrom had a net margin of 0.91% and a return on equity of 49.30%. The business had revenue of $4.29 billion for the quarter, compared to analyst estimates of $4.38 billion. During the same period in the previous year, the business earned $0.74 EPS. The firm’s revenue was up 2.2% on a year-over-year basis. On average, analysts anticipate that Nordstrom will post 1.8 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms recently commented on JWN. Piper Sandler raised their target price on Nordstrom from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 6th. StockNews.com upgraded shares of Nordstrom from a “hold” rating to a “buy” rating in a research note on Thursday, March 14th. Barclays increased their target price on shares of Nordstrom from $14.00 to $15.00 and gave the stock an “underweight” rating in a research report on Wednesday, March 6th. Bank of America upped their price objective on shares of Nordstrom from $13.00 to $15.00 and gave the stock an “underperform” rating in a research note on Wednesday, March 6th. Finally, Jefferies Financial Group reissued a “hold” rating and issued a $17.00 target price (down from $18.00) on shares of Nordstrom in a report on Thursday, March 7th. Five analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $16.69.

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.