Telsey Advisory Group Issues Pessimistic Forecast for Nordstrom (NYSE:JWN) Stock Price

Nordstrom (NYSE:JWN) had its price target decreased by Telsey Advisory Group from $26.00 to $24.00 in a research report report published on Tuesday,Benzinga reports. Telsey Advisory Group currently has a market perform rating on the specialty retailer’s stock.

Other analysts also recently issued reports about the stock. BMO Capital Markets raised their price objective on shares of Nordstrom from $20.00 to $22.00 and gave the company a “market perform” rating in a research report on Wednesday, August 28th. StockNews.com cut Nordstrom from a “strong-buy” rating to a “buy” rating in a report on Thursday, December 5th. Barclays raised Nordstrom from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $18.00 to $23.00 in a research note on Thursday, September 5th. KeyCorp downgraded Nordstrom from an “overweight” rating to a “sector weight” rating in a research note on Thursday, September 26th. Finally, Citigroup boosted their price target on Nordstrom from $22.00 to $23.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $21.13.

Nordstrom Stock Performance

NYSE:JWN opened at $24.21 on Tuesday. The company has a debt-to-equity ratio of 2.65, a quick ratio of 0.35 and a current ratio of 1.14. The stock has a 50-day simple moving average of $23.21 and a two-hundred day simple moving average of $22.45. The firm has a market capitalization of $3.99 billion, a PE ratio of 15.42 and a beta of 2.56. Nordstrom has a 52-week low of $16.63 and a 52-week high of $24.99.

Nordstrom (NYSE:JWN) last announced its quarterly earnings data on Tuesday, November 26th. The specialty retailer reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.11. The company had revenue of $3.35 billion during the quarter, compared to the consensus estimate of $3.34 billion. Nordstrom had a negative return on equity of 18.04% and a negative net margin of 1.57%. The firm’s revenue was up 4.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.25 EPS. Analysts forecast that Nordstrom will post 1.94 EPS for the current year.

Nordstrom Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Tuesday, December 3rd were issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date of this dividend was Tuesday, December 3rd. Nordstrom’s dividend payout ratio (DPR) is presently 48.41%.

Institutional Investors Weigh In On Nordstrom

A number of hedge funds have recently bought and sold shares of JWN. Venturi Wealth Management LLC grew 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 worth $29,000 after buying an additional 993 shares in the last quarter. Atlas Capital Advisors LLC lifted its holdings in shares of Nordstrom by 101.8% in the 2nd quarter. Atlas Capital Advisors LLC now owns 1,491 shares of the specialty retailer’s stock valued at $32,000 after acquiring an additional 752 shares during the last quarter. Rothschild Investment LLC purchased a new position in Nordstrom in the second quarter worth about $39,000. Point72 Hong Kong Ltd bought a new stake in Nordstrom during the second quarter worth approximately $71,000. Finally, Blue Trust Inc. raised its position 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 during the period. Hedge funds and other institutional investors own 88.73% of the company’s stock.

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.