Nordstrom (JWN) Posts Earnings Results, Beats Expectations By $0.03 EPS

Nordstrom (NYSE:JWN) released its quarterly earnings data on Thursday. The specialty retailer reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.03, Morningstar.com reports. Nordstrom had a return on equity of 56.00% and a net margin of 3.24%. The company had revenue of $3.75 billion for the quarter, compared to analyst estimates of $3.68 billion. Nordstrom updated its FY 2018 guidance to $3.55-3.65 EPS and its FY19 guidance to $3.55-3.65 EPS.

Nordstrom stock opened at $51.81 on Friday. Nordstrom has a 52 week low of $39.03 and a 52 week high of $67.75. The company has a debt-to-equity ratio of 2.35, a current ratio of 1.10 and a quick ratio of 0.54. The stock has a market cap of $10.77 billion, a P/E ratio of 17.50, a price-to-earnings-growth ratio of 2.97 and a beta of 0.59.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 11th. Investors of record on Monday, November 26th will be given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 2.86%. The ex-dividend date of this dividend is Friday, November 23rd. Nordstrom’s payout ratio is 50.00%.

A number of analysts recently issued reports on JWN shares. Wedbush started coverage on Nordstrom in a research note on Wednesday, October 31st. They set a $59.00 price objective on the stock. UBS Group boosted their price objective on Nordstrom from $69.00 to $73.00 and gave the company a “buy” rating in a research note on Friday, August 17th. Deutsche Bank boosted their price objective on Nordstrom from $56.00 to $61.00 and gave the company a “buy” rating in a research note on Friday, August 17th. ValuEngine upgraded Nordstrom from a “hold” rating to a “buy” rating in a research note on Monday, August 20th. Finally, Goldman Sachs Group started coverage on Nordstrom in a research note on Monday, September 3rd. They set a “buy” rating and a $73.00 price objective on the stock. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $58.12.

In other news, insider Blake W. Nordstrom sold 127,251 shares of the company’s stock in a transaction dated Thursday, September 20th. The stock was sold at an average price of $61.51, for a total value of $7,827,209.01. Following the completion of the transaction, the insider now directly owns 2,519,436 shares in the company, valued at approximately $154,970,508.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Christine Deputy sold 11,534 shares of the company’s stock in a transaction dated Monday, September 10th. The stock was sold at an average price of $65.87, for a total value of $759,744.58. Following the completion of the transaction, the insider now owns 76,463 shares of the company’s stock, valued at $5,036,617.81. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 200,604 shares of company stock valued at $12,621,378. 7.05% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently bought and sold shares of JWN. Centaurus Financial Inc. purchased a new position in shares of Nordstrom in the 2nd quarter worth about $112,000. First Hawaiian Bank purchased a new position in shares of Nordstrom in the 3rd quarter worth about $113,000. Kiley Juergens Wealth Management LLC purchased a new position in shares of Nordstrom in the 2nd quarter worth about $118,000. Captrust Financial Advisors boosted its holdings in shares of Nordstrom by 426.1% in the 3rd quarter. Captrust Financial Advisors now owns 2,099 shares of the specialty retailer’s stock worth $126,000 after purchasing an additional 1,700 shares in the last quarter. Finally, Stratos Wealth Partners LTD. purchased a new position in shares of Nordstrom in the 3rd quarter worth about $145,000. Hedge funds and other institutional investors own 56.44% of the company’s stock.

Nordstrom declared that its board has approved a stock buyback program on Wednesday, August 22nd that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the specialty retailer to purchase up to 14.4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

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Nordstrom Company Profile

Nordstrom, Inc, a fashion retailer, provides apparel, shoes, cosmetics, and accessories for women, men, young adults, and children in the United States and Canada. The company operates in two segments, Retail and Credit. The Retail segment offers a range of brand name and private label merchandise through various channels, including Nordstrom branded full-line stores and online store at Nordstrom.com; Nordstrom Rack stores; Nordstromrack.com and HauteLook; Trunk Club clubhouses and TrunkClub.com; Jeffrey boutiques; and clearance stores that operate under the Last Chance name.

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Earnings History for Nordstrom (NYSE:JWN)

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