Foot Locker Shares Gap Up After Dividend Announcement (FL)
Foot Locker (NYSE:FL) gapped up before the market opened on Tuesday following a dividend announcement from the company, Analyst RN reports. The stock had previously closed at $50.29, but opened at $50.70. Foot Locker shares last traded at $51.43, with a volume of 578,940 shares.
The newly announced dividend is scheduled for Friday, October 31st. Shareholders of record on Friday, October 17th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.74%.
FL has been the subject of a number of recent research reports. Analysts at Buckingham Research initiated coverage on shares of Foot Locker in a research note on Wednesday, June 25th. They set a “buy” rating and a $58.00 price target on the stock. Separately, analysts at Sterne Agee raised their price target on shares of Foot Locker from $55.00 to $60.00 in a research note on Thursday, June 12th. They now have a “buy” rating on the stock. Finally, analysts at Sterne Agee reiterated a “top pick” rating on shares of Foot Locker in a research note on Wednesday, June 11th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $51.00.
The stock’s 50-day moving average is $49.49 and its 200-day moving average is $46.56. The company has a market cap of $7.497 billion and a price-to-earnings ratio of 16.67.
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. Analysts expect that Foot Locker will post $3.32 EPS for the current fiscal year.
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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