Nordstrom's quarterly sales rise 2.4 pct

Nordstrom, Inc. (NYSE:JWN) issued an update on its FY18 earnings guidance on Thursday morning.

The company reported that comparable sales at its namesake USA department store sank 2.9 percent - a measure that includes sales online and at stores open more than a year.

Nordstrom's total revenue rose 2.4% to $4.2 billion, less than expected.

Nordstrom Inc. posted higher earnings and revenue in the latest quarter, helped by sales at the department store operator's off-price retailers. (NYSE:JWN) yearly sales estimates is $4627.8 while sales forecasts median is $4634. 5,364,950 shares of the company's stock were exchanged. The stock's current distance from 20-Day Simple Moving Average (SMA20) is -2.09% where SMA50 and SMA200 are -3.12% and 12.23% respectively. The firm has a market capitalization of $7.92 billion, a P/E ratio of 24.32 and a beta of 1.01. Nordstrom Inc. (NYSE:JWN) belongs to Retail-Wholesale sector that declined -3.11% in value when last trading session closed at $43.94. Excluding the effect of a one-time tax impairment, the retailer recorded $1.37 in fourth quarter earnings per share, a figure that easily beat the $1.15 analyst estimate. Nordstrom had a return on equity of 58.85% and a net margin of 2.28%.

Net sales increased to $4.24 billion from $4.14 billion.

Meanwhile, earnings advanced 10 percent year-over-year, to $201 million, or $1.15 per diluted share. Still, its revenue came up short, growing 2.4 percent to $4.32 billion.

Shares, which have declined 8.3% so far this year, gained back 3.3% to $45.37 in after-hours trading Thursday, despite the company offering a tepid outlook for the year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 15th. This represents a $1.48 annualized dividend and a dividend yield of 3.26%. Nordstrom's dividend payout ratio (DPR) is presently 79.14%. The ex-dividend date of this dividend is Monday, February 27th. Nordstrom's dividend payout ratio (DPR) is now 79.14%. The analysts, on average, are forecasting a $48.74 price target, but the stock is already up 27.21% from its recent lows. Finally, Bank of America Corp set a $40.00 price objective on Nordstrom and gave the stock a "sell" rating in a report on Friday, November 11th.

State Board of Administration of Florida Retirement System raised its stake in shares of Nordstrom, Inc. Nine investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and seven have given a buy rating to the company's stock. The stock now has an average rating of "Hold" and an average target price of $47.20. Also, insider Michael G. Koppel sold 87,257 shares of the company's stock in a transaction on Tuesday, December 13th. The stock was sold at an average price of $60.00, for a total value of $300,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Analysts are speculating a 54.76% move, based on the high target price ($68) for the shares that is set to reach in the next 12 months.

  • Zachary Reyes