Foot Locker Price Target Increased to $55.00 by Analysts at Sterne Agee (FL)
Equities research analysts at Sterne Agee hoisted their price target on shares of Foot Locker (NYSE:FL) from $52.00 to $55.00 in a research note issued to investors on Tuesday. The firm currently has a “buy” rating on the stock. Sterne Agee’s price objective would suggest a potential upside of 12.43% from the stock’s previous close.
A number of other analysts have also recently weighed in on FL. Analysts at Janney Montgomery Scott raised their price target on shares of Foot Locker from $55.00 to $56.00 in a research note on Tuesday. They now have a “fair value” rating on the stock. Separately, analysts at Deutsche Bank reiterated a “buy” rating on shares of Foot Locker in a research note on Thursday, May 22nd. They now have a $51.00 price target on the stock. Finally, analysts at Canaccord Genuity raised their price target on shares of Foot Locker from $52.00 to $55.00 in a research note on Tuesday, May 20th. They now have a “buy” rating on the stock. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $48.75.
Foot Locker (NYSE:FL) traded down 0.76% on Tuesday, hitting $48.55. The stock had a trading volume of 587,669 shares. Foot Locker has a 52 week low of $31.91 and a 52 week high of $49.63. The stock’s 50-day moving average is $46.7 and its 200-day moving average is $42.04. The company has a market cap of $7.166 billion and a P/E ratio of 16.09.
Foot Locker (NYSE:FL) last issued its quarterly earnings data on Friday, May 23rd. The company reported $1.11 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.06 by $0.05. The company had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.79 billion. During the same quarter last year, the company posted $0.91 earnings per share. Foot Locker’s revenue was up 14.0% compared to the same quarter last year. On average, analysts predict that Foot Locker will post $3.29 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, August 1st. Shareholders of record on Friday, July 18th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.80%. The ex-dividend date is Wednesday, July 16th.
Foot Locker, Inc is a global retailer of shoes and apparel, operating 3,335 primarily mall-based stores in the United States, Canada, Europe, Australia, and New Zealand as of February 2, 2013.
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