Deutsche Bank Reiterates Buy Rating for Foot Locker (FL)
Foot Locker (NYSE:FL)‘s stock had its “buy” rating restated by investment analysts at Deutsche Bank in a note issued to investors on Wednesday. They currently have a $55.00 price objective on the stock, up from their previous price objective of $53.00. Deutsche Bank’s price objective would indicate a potential upside of 5.85% from the stock’s previous close.
Foot Locker (NYSE:FL) traded up 0.62% on Wednesday, hitting $52.28. 1,672,399 shares of the company’s stock traded hands. Foot Locker has a 52-week low of $31.91 and a 52-week high of $52.12. The stock’s 50-day moving average is $49.56 and its 200-day moving average is $46.66. The company has a market cap of $7.565 billion and a P/E ratio of 17.09.
Foot Locker (NYSE:FL) last posted its quarterly 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. Analysts expect that Foot Locker will post $3.30 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, October 31st. Shareholders of record on Friday, October 17th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.69%. The ex-dividend date is Wednesday, October 15th.
FL has been the subject of a number of other 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 analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Foot Locker has an average rating of “Buy” and a consensus target price of $51.33.
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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