Nordstrom (NYSE:JWN) Updates FY 2019 Earnings Guidance

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Nordstrom (NYSE:JWN) issued an update on its FY 2019 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $3.25-3.50 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $3.27. The company issued revenue guidance of $15.17-15.17 billion, compared to the consensus revenue estimate of $15.68 billion.Nordstrom also updated its FY20 guidance to $3.25-3.50 EPS.

Shares of NYSE JWN opened at $28.57 on Friday. Nordstrom has a twelve month low of $25.01 and a twelve month high of $67.75. The company has a current ratio of 0.76, a quick ratio of 0.24 and a debt-to-equity ratio of 6.34. The company has a market capitalization of $4.10 billion, a price-to-earnings ratio of 8.09, a PEG ratio of 1.35 and a beta of 0.66. The firm has a 50-day moving average of $29.63 and a two-hundred day moving average of $37.47.

Nordstrom (NYSE:JWN) last issued its quarterly earnings results on Wednesday, August 21st. The specialty retailer reported $0.90 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.76 by $0.14. Nordstrom had a net margin of 3.17% and a return on equity of 59.55%. The company had revenue of $3.87 billion during the quarter, compared to the consensus estimate of $3.92 billion. During the same period in the prior year, the company earned $0.95 EPS. Nordstrom’s revenue was down 4.8% on a year-over-year basis. As a group, research analysts predict that Nordstrom will post 3.32 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 5.18%. The ex-dividend date is Thursday, August 29th. Nordstrom’s payout ratio is 41.69%.

Several analysts have issued reports on JWN shares. Morgan Stanley cut their price objective on Nordstrom from $40.00 to $33.00 and set an equal weight rating on the stock in a report on Friday. Telsey Advisory Group cut their price objective on Nordstrom from $35.00 to $32.00 and set a market perform rating on the stock in a report on Thursday. Credit Suisse Group cut their price objective on Nordstrom from $40.00 to $36.00 and set a neutral rating on the stock in a report on Wednesday, May 22nd. Piper Jaffray Companies cut their price objective on Nordstrom from $40.00 to $33.00 and set a neutral rating on the stock in a report on Wednesday, May 22nd. Finally, Bank of America restated an underperform rating and set a $29.00 price objective (down previously from $32.00) on shares of Nordstrom in a report on Thursday. Five equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and two have assigned a buy rating to the company. Nordstrom presently has a consensus rating of Hold and an average price target of $38.19.

In other Nordstrom news, insider Peter E. Nordstrom sold 3,380 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $32.46, for a total transaction of $109,714.80. Following the completion of the sale, the insider now owns 2,530,989 shares of the company’s stock, valued at $82,155,902.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Christine Deputy sold 4,812 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $32.59, for a total value of $156,823.08. Following the sale, the insider now directly owns 60,056 shares of the company’s stock, valued at approximately $1,957,225.04. The disclosure for this sale can be found here. 5.21% of the stock is owned by corporate insiders.

About Nordstrom

Nordstrom, Inc, a fashion retailer, provides apparel, shoes, cosmetics, and accessories 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 full-line stores and online store at Nordstrom.com; Nordstrom Rack stores; Nordstromrack.com and HauteLook; Jeffrey boutiques; clearance stores that operate under the Last Chance name; Trunk Club clubhouses and TrunkClub.com; and Nordstrom Locals.

Further Reading: Hold Rating

Earnings History and Estimates for Nordstrom (NYSE:JWN)

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