$1.85 Billion in Sales Expected for Foot Locker, Inc. (FL) This Quarter
Wall Street analysts expect Foot Locker, Inc. (NYSE:FL) to post sales of $1.85 billion for the current fiscal quarter, Zacks reports. Eight analysts have provided estimates for Foot Locker’s earnings, with the lowest sales estimate coming in at $1.81 billion and the highest estimate coming in at $1.88 billion. Foot Locker reported sales of $1.89 billion during the same quarter last year, which indicates a negative year over year growth rate of 2.1%. The firm is scheduled to announce its next earnings results on Friday, November 17th.
On average, analysts expect that Foot Locker will report full year sales of $1.85 billion for the current year, with estimates ranging from $7.63 billion to $7.80 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $7.72 billion per share, with estimates ranging from $7.40 billion to $8.03 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that follow Foot Locker.
Foot Locker (NYSE:FL) last released its quarterly earnings data on Friday, August 18th. The athletic footwear retailer reported $0.62 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.90 by ($0.28). The firm had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.80 billion. Foot Locker had a net margin of 7.49% and a return on equity of 21.52%. The company’s revenue was down 4.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.94 EPS.
FL has been the subject of several research reports. BidaskClub lowered Foot Locker from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 25th. TheStreet lowered Foot Locker from a “b-” rating to a “c+” rating in a research report on Friday, June 30th. Morgan Stanley reissued an “overweight” rating and issued a $50.00 target price (down previously from $65.00) on shares of Foot Locker in a research report on Tuesday, August 29th. Jefferies Group LLC set a $80.00 target price on Foot Locker and gave the stock a “buy” rating in a research report on Tuesday, June 20th. Finally, Oppenheimer Holdings, Inc. initiated coverage on Foot Locker in a research report on Friday, July 7th. They issued a “market perform” rating for the company. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $64.38.
Shares of Foot Locker (NYSE FL) opened at 33.85 on Thursday. Foot Locker has a 12-month low of $31.56 and a 12-month high of $79.43. The stock’s 50 day moving average price is $35.87 and its 200 day moving average price is $54.50. The company has a market cap of $4.20 billion, a P/E ratio of 7.82 and a beta of 0.72.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 27th. Investors of record on Friday, October 13th will be given a dividend of $0.31 per share. The ex-dividend date of this dividend is Thursday, October 12th. This represents a $1.24 annualized dividend and a yield of 3.66%. Foot Locker’s dividend payout ratio (DPR) is presently 28.57%.
Several institutional investors have recently made changes to their positions in FL. UBS Asset Management Americas Inc. lifted its position in shares of Foot Locker by 3.3% in the first quarter. UBS Asset Management Americas Inc. now owns 647,211 shares of the athletic footwear retailer’s stock valued at $48,418,000 after acquiring an additional 20,666 shares in the last quarter. Mutual of America Capital Management LLC lifted its position in shares of Foot Locker by 7.7% in the first quarter. Mutual of America Capital Management LLC now owns 16,366 shares of the athletic footwear retailer’s stock valued at $1,224,000 after acquiring an additional 1,165 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in shares of Foot Locker by 20.5% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 5,251 shares of the athletic footwear retailer’s stock valued at $393,000 after acquiring an additional 894 shares in the last quarter. Pacer Advisors Inc. lifted its position in shares of Foot Locker by 3.5% in the first quarter. Pacer Advisors Inc. now owns 2,630 shares of the athletic footwear retailer’s stock valued at $197,000 after acquiring an additional 88 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. purchased a new position in shares of Foot Locker in the first quarter valued at about $235,000. Institutional investors and hedge funds own 96.77% of the company’s stock.
Foot Locker Company Profile
Foot Locker, Inc is a retailer of shoes and apparel. The Company operates through two segments: Athletic Stores and Direct-to-Customers. The Company is an athletic footwear and apparel retailer, which include businesses, such as include Foot Locker, Kids Foot Locker, Lady Foot Locker, Champs Sports, Footaction, Runners Point, Sidestep and SIX:02.
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