Nordstrom, Inc. (NYSE:JWN) shares traded 3.86% higher at $19.38 on Wall Street last session.
JWN stock price is now 2.23% away from the 50-day moving average and 10.06% away from the 200-day moving average. The market capitalization of the company currently stands at $3.15B.
With the price target reduced from $18 to $17, Jefferies Downgraded its rating from Buy to Hold for Nordstrom, Inc. (NYSE: JWN). On March 06, 2024, Telsey Advisory Group reiterated its ‘Market Perform’ rating on the stock by increasing its target price from $17 to quote $19, while ‘Evercore ISI’ rates the stock as ‘In-line’
In other news, Lionello Gemma, President, Nordstrom Rack sold 32,916 shares of the company’s stock on Oct 05 ’23. The stock was sold for $472,819 at an average price of $14.36. Upon completion of the transaction, the President, Nordstrom Rack now directly owns 39,973 shares in the company, valued at $0.77 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jun 30 ’23, Chief Human Resources Officer Redwine Farrell B. sold 33,364 shares of the business’s stock. A total of $679,561 was realized by selling the stock at an average price of $20.37. This leaves the insider owning 26,564 shares of the company worth $0.51 million. A total of 40.16% of the company’s stock is owned by insiders.
During the past 12 months, Nordstrom, Inc. has had a low of $12.88 and a high of $23.53. As of last week, the company has a debt-to-equity ratio of 5.35, a current ratio of 1.02, and a quick ratio of 0.41. According to the stock market information, the enterprise value for the company is $7.28B, which is based on a 24.59 price-to-earnings ratio, a 3.62 price-to-earnings-growth ratio, and a beta of 2.60. The fifty day moving average price for JWN is $18.97 and a two-hundred day moving average price translates $17.62 for the stock.
The latest earnings results from Nordstrom, Inc. (NYSE: JWN) was released for Feb, 2024. According to the Department Stores Company, earnings per share came in at $0.96, beating analysts’ expectations of $0.88 by 0.08. This compares to $0.74 EPS in the same period last year. The net profit margin was 0.91% and return on equity was 16.76% for JWN. The company reported revenue of $4.42 billion for the quarter, compared to $4.32 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 2.31 percent. For the current quarter, analysts expect JWN to generate $3.2B in revenue.
