Foot Locker Coverage Initiated by Analysts at Jefferies Group (FL)
Equities research analysts at Jefferies Group assumed coverage on shares of Foot Locker (NYSE:FL) in a research note issued to investors on Thursday, TheFlyOnTheWall.com reports. The firm set a “buy” rating and a $66.00 price target on the stock. Jefferies Group’s price objective points to a potential upside of 15.55% from the stock’s previous close.
In other Foot Locker news, EVP Robert W. Mchugh unloaded 27,190 shares of the company’s stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $56.12, for a total transaction of $1,525,902.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Foot Locker (NYSE:FL) opened at 57.12 on Thursday. Foot Locker has a one year low of $32.10 and a one year high of $57.90. The stock’s 50-day moving average is $50.81 and its 200-day moving average is $47.93. The company has a market cap of $8.362 billion and a P/E ratio of 17.67.
Foot Locker (NYSE:FL) last announced its earnings results on Friday, August 22nd. The company reported $0.64 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $0.46 earnings per share. The company’s quarterly revenue was up 12.9% on a year-over-year basis. On average, analysts predict that Foot Locker will post $3.44 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, October 31st. Stockholders 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 1.54%. The ex-dividend date of this dividend is Wednesday, October 15th.
Other equities research analysts have also recently issued reports about the stock. Analysts at Citigroup Inc. reiterated a “buy” rating on shares of Foot Locker in a research note on Tuesday, August 26th. They now have a $62.00 price target on the stock, up previously from $56.00. Separately, 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, August 25th. They now have a “not rated” rating on the stock. Finally, 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, August 25th. They now have a “buy” rating on the stock. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Foot Locker currently has an average rating of “Buy” and an average price target of $56.08.
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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