$0.80 EPS Expected for Foot Locker, Inc. (FL) This Quarter
Brokerages forecast that Foot Locker, Inc. (NYSE:FL) will report $0.80 earnings per share for the current fiscal quarter, according to Zacks. Eight analysts have provided estimates for Foot Locker’s earnings, with estimates ranging from $0.75 to $0.86. Foot Locker posted earnings per share of $1.13 in the same quarter last year, which would suggest a negative year over year growth rate of 29.2%. The business is expected to report its next earnings report on Friday, November 17th.
According to Zacks, analysts expect that Foot Locker will report full-year earnings of $3.95 per share for the current year, with EPS estimates ranging from $3.85 to $4.05. For the next year, analysts expect that the company will report earnings of $3.80 per share, with EPS estimates ranging from $3.32 to $4.34. Zacks’ earnings per share averages are an average based on a survey of research firms that that provide coverage for Foot Locker.
Foot Locker (NYSE:FL) last posted its quarterly earnings data on Friday, August 18th. The athletic footwear retailer reported $0.62 earnings per share for the quarter, missing the consensus estimate of $0.90 by ($0.28). Foot Locker had a return on equity of 21.52% and a net margin of 7.49%. The firm had revenue of $1.70 billion for the quarter, compared to analysts’ expectations of $1.80 billion. During the same quarter in the previous year, the firm posted $0.94 earnings per share. The company’s revenue for the quarter was down 4.4% on a year-over-year basis.
Several equities research analysts have weighed in on the stock. Morgan Stanley upgraded shares of Foot Locker from an “equal weight” rating to an “overweight” rating and cut their target price for the stock from $70.00 to $65.00 in a report on Tuesday, August 8th. Canaccord Genuity lowered shares of Foot Locker from a “buy” rating to a “hold” rating in a report on Friday, August 18th. TheStreet lowered shares of Foot Locker from a “b-” rating to a “c+” rating in a report on Friday, June 30th. FBR & Co reiterated a “hold” rating on shares of Foot Locker in a report on Monday, August 21st. Finally, J P Morgan Chase & Co lowered shares of Foot Locker from an “overweight” rating to a “neutral” rating in a report on Friday, August 18th. Three investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and thirteen have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $62.88.
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A number of hedge funds have recently made changes to their positions in FL. D.A. Davidson & CO. lifted its stake in Foot Locker by 50.3% in the second quarter. D.A. Davidson & CO. now owns 2,133 shares of the athletic footwear retailer’s stock valued at $105,000 after acquiring an additional 714 shares during the last quarter. Penserra Capital Management LLC lifted its stake in Foot Locker by 13.0% in the second quarter. Penserra Capital Management LLC now owns 3,016 shares of the athletic footwear retailer’s stock valued at $148,000 after acquiring an additional 348 shares during the last quarter. Exane Derivatives lifted its stake in Foot Locker by 110,475.0% in the third quarter. Exane Derivatives now owns 4,423 shares of the athletic footwear retailer’s stock valued at $156,000 after acquiring an additional 4,419 shares during the last quarter. Pacer Advisors Inc. lifted its stake in Foot Locker by 49.6% in the second quarter. Pacer Advisors Inc. now owns 3,935 shares of the athletic footwear retailer’s stock valued at $194,000 after acquiring an additional 1,305 shares during the last quarter. Finally, Ffcm LLC lifted its stake in Foot Locker by 9.3% in the second quarter. Ffcm LLC now owns 4,072 shares of the athletic footwear retailer’s stock valued at $201,000 after acquiring an additional 348 shares during the last quarter. Hedge funds and other institutional investors own 96.57% of the company’s stock.
Foot Locker (NYSE:FL) opened at 31.28 on Friday. Foot Locker has a 52-week low of $30.58 and a 52-week high of $79.43. The stock has a market capitalization of $3.88 billion, a PE ratio of 7.23 and a beta of 0.72. The firm’s 50-day moving average is $34.28 and its 200 day moving average is $51.08.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 27th. Shareholders of record on Friday, October 13th will be paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 3.96%. The ex-dividend date is Thursday, October 12th. Foot Locker’s dividend payout ratio is currently 28.57%.
About Foot Locker
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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