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

Nordstrom, Inc. (NYSE:JWN) announced a quarterly dividend on Wednesday, February 26th, RTT News reports. Shareholders of record on Tuesday, March 11th will be paid a dividend of 0.19 per share by the specialty retailer on Wednesday, March 26th. This represents a $0.76 dividend on an annualized basis and a yield of 3.12%.

Nordstrom has a dividend payout ratio of 34.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Nordstrom to earn $2.01 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 37.8%.

Nordstrom Price Performance

Shares of NYSE:JWN traded up $0.02 during trading on Wednesday, hitting $24.34. 1,077,292 shares of the company were exchanged, compared to its average volume of 2,206,213. Nordstrom has a 1-year low of $16.78 and a 1-year high of $24.99. The company has a market capitalization of $4.02 billion, a P/E ratio of 15.50 and a beta of 2.51. The company has a quick ratio of 0.35, a current ratio of 1.14 and a debt-to-equity ratio of 2.65. The business’s 50 day moving average is $24.19 and its 200-day moving average is $23.21.

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. 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% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.25 earnings per share. Equities analysts forecast that Nordstrom will post 1.97 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently issued reports on JWN. Barclays raised their target price on Nordstrom from $23.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 16th. Citigroup upped their target price on Nordstrom from $22.00 to $23.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th. StockNews.com assumed coverage on shares of Nordstrom in a report on Wednesday, February 19th. They set a “buy” rating for the company. Bank of America upped 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, November 27th. Finally, Telsey Advisory Group restated a “market perform” rating and set a $24.00 price target on shares of Nordstrom in a report on Tuesday. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $22.17.

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.