Foot Locker’s Overweight Rating Reaffirmed at JPMorgan Chase & Co. (FL)
Foot Locker (NYSE:FL)‘s stock had its “overweight” rating reiterated by JPMorgan Chase & Co. in a research note issued on Wednesday. They currently have a $51.00 price objective on the stock, up from their previous price objective of $50.00. JPMorgan Chase & Co.’s price target suggests a potential upside of 2.12% from the stock’s previous close.
A number of other analysts have also recently weighed in on FL. Analysts at Sterne Agee raised their price target on shares of Foot Locker from $52.00 to $55.00 in a research note on Tuesday, May 27th. They now have a “buy” rating on the stock. 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 research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Foot Locker currently has a consensus rating of “Buy” and a consensus target price of $48.83.
Foot Locker (NYSE:FL) traded down 1.30% during mid-day trading on Wednesday, hitting $49.29. 582,686 shares of the company’s stock traded hands. Foot Locker has a 1-year low of $31.91 and a 1-year 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 $7.275 billion and a price-to-earnings ratio of 16.42. Foot Locker also saw a large decrease in short interest during the month of May. As of May 30th, there was short interest totalling 1,629,826 shares, a decrease of 34.5% from the May 15th total of 2,487,072 shares. Currently, 1.1% of the company’s shares 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 released its 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 $3.30 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, August 1st. Investors 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 1.76%. 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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