Foot Locker Stock Rating Reaffirmed by Sterne Agee (FL)
A number of other analysts have also recently weighed in on FL. Analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Foot Locker in a research note on Wednesday. They now have a $51.00 price target on the stock, up previously from $50.00. Separately, 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, May 27th. They now have a “fair value” rating on the stock. Finally, 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. Four equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $48.27.
Shares of Foot Locker (NYSE:FL) traded down 0.66% on Wednesday, hitting $49.61. 1,168,257 shares of the company’s stock traded hands. Foot Locker has a 52-week low of $31.91 and a 52-week high of $50.12. The stock’s 50-day moving average is $47.88 and its 200-day moving average is $43.24. The company has a market cap of $7.322 billion and a price-to-earnings ratio of 16.42. Foot Locker also was the recipient of a large drop in short interest in the month of May. As of May 30th, there was short interest totalling 1,629,826 shares, a drop of 34.5% from the May 15th total of 2,487,072 shares. Approximately 1.1% of the company’s stock are short sold. Based on an average daily volume of 1,517,082 shares, the days-to-cover ratio is currently 1.1 days.
Foot Locker (NYSE:FL) last announced its earnings results 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 $3.30 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 1.77%. The ex-dividend date is Wednesday, July 16th.
Foot Locker, Inc is a global retailer of shoes and apparel, operating 3,473 primarily mall-based stores in the United States, Canada, Europe, Australia and New Zealand as of February 1, 2014.
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