Citigroup Inc. Reiterates “Buy” Rating for Foot Locker (FL)
Foot Locker (NYSE:FL)‘s stock had its “buy” rating reaffirmed by research analysts at Citigroup Inc. in a report released on Tuesday. They currently have a $62.00 price objective on the stock, up from their previous price objective of $56.00. Citigroup Inc.’s price target suggests a potential upside of 13.59% from the company’s current price.
Foot Locker (NYSE:FL) traded up 1.04% on Tuesday, hitting $55.15. The stock had a trading volume of 610,463 shares. Foot Locker has a 52-week low of $31.91 and a 52-week high of $55.33. The stock’s 50-day moving average is $49.79 and its 200-day moving average is $47.17. The company has a market cap of $8.074 billion and a price-to-earnings ratio of 16.85.
Foot Locker (NYSE:FL) last issued its quarterly earnings data on Friday, August 22nd. The company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.10. The company had revenue of $1.64 billion for the quarter. During the same quarter in the previous year, the company posted $0.46 earnings per share. The company’s revenue for the quarter was up 12.9% on a year-over-year basis. Analysts expect that Foot Locker will post $3.43 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 1.61%. The ex-dividend date is Wednesday, October 15th.
A number of other analysts have also recently weighed in on FL. Analysts at Telsey Advisory Group raised their price target on shares of Foot Locker from $52.00 to $61.00 in a research note on Monday. They now have a “not rated” rating on the stock. Separately, analysts at Canaccord Genuity raised their price target on shares of Foot Locker from $56.00 to $59.00 in a research note on Monday. They now have a “buy” rating on the stock. Finally, analysts at Piper Jaffray downgraded shares of Foot Locker from an “overweight” rating to a “neutral” rating in a research note on Monday. They now have a $57.00 price target on the stock, up previously from $54.00. They noted that the move was a valuation call. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $55.25.
In other Foot Locker news, CFO Lauren B. Peters sold 40,000 shares of the stock on the open market in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $52.00, for a total transaction of $2,080,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
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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