Zacks: Brokerages Anticipate Foot Locker, Inc. (FL) Will Post Quarterly Sales of $2.19 Billion

Brokerages predict that Foot Locker, Inc. (NYSE:FL) will announce sales of $2.19 billion for the current fiscal quarter, according to Zacks. Eight analysts have made estimates for Foot Locker’s earnings, with estimates ranging from $2.09 billion to $2.27 billion. Foot Locker posted sales of $2.11 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 3.8%. The firm is expected to report its next quarterly earnings results on Friday, February 23rd.

According to Zacks, analysts expect that Foot Locker will report full-year sales of $2.19 billion for the current financial year, with estimates ranging from $7.66 billion to $7.84 billion. For the next year, analysts anticipate that the business will post sales of $7.74 billion per share, with estimates ranging from $7.40 billion to $7.98 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for Foot Locker.

Foot Locker (NYSE:FL) last issued its earnings results on Friday, November 17th. The athletic footwear retailer reported $0.87 EPS for the quarter, beating the consensus estimate of $0.80 by $0.07. The company had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.82 billion. Foot Locker had a net margin of 6.79% and a return on equity of 19.96%. The business’s revenue for the quarter was down .8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.13 EPS.

A number of analysts recently commented on FL shares. Morgan Stanley restated an “overweight” rating and set a $50.00 price target (down from $65.00) on shares of Foot Locker in a research note on Tuesday, August 29th. Zacks Investment Research upgraded shares of Foot Locker from a “sell” rating to a “hold” rating in a research note on Monday, October 23rd. Cowen set a $37.00 target price on shares of Foot Locker and gave the stock a “hold” rating in a report on Monday, October 23rd. Robert W. Baird reaffirmed a “hold” rating and set a $37.00 target price on shares of Foot Locker in a report on Sunday, October 29th. Finally, Canaccord Genuity reaffirmed a “hold” rating and set a $39.00 target price on shares of Foot Locker in a report on Friday, October 20th. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating and twelve have given a buy rating to the company’s stock. Foot Locker presently has an average rating of “Hold” and a consensus price target of $53.26.

Several hedge funds have recently modified their holdings of FL. D.A. Davidson & CO. increased its position in shares of Foot Locker by 50.3% in the 2nd quarter. D.A. Davidson & CO. now owns 2,133 shares of the athletic footwear retailer’s stock valued at $105,000 after buying an additional 714 shares in the last quarter. Smithfield Trust Co. boosted its stake in shares of Foot Locker by 276.2% during the 3rd quarter. Smithfield Trust Co. now owns 3,198 shares of the athletic footwear retailer’s stock worth $113,000 after buying an additional 2,348 shares during the last quarter. Assetmark Inc. boosted its stake in shares of Foot Locker by 205.0% during the 3rd quarter. Assetmark Inc. now owns 3,834 shares of the athletic footwear retailer’s stock worth $135,000 after buying an additional 2,577 shares during the last quarter. Penserra Capital Management LLC boosted its stake in shares of Foot Locker by 13.0% during the 2nd quarter. Penserra Capital Management LLC now owns 3,016 shares of the athletic footwear retailer’s stock worth $148,000 after buying an additional 348 shares during the last quarter. Finally, Exane Derivatives boosted its stake in shares of Foot Locker by 110,475.0% during the 3rd quarter. Exane Derivatives now owns 4,423 shares of the athletic footwear retailer’s stock worth $156,000 after buying an additional 4,419 shares during the last quarter. Institutional investors and hedge funds own 88.22% of the company’s stock.

Shares of Foot Locker (NYSE:FL) opened at $42.84 on Friday. The company has a current ratio of 4.39, a quick ratio of 2.08 and a debt-to-equity ratio of 0.05. The company has a market cap of $5,015.70, a PE ratio of 9.59, a PEG ratio of 1.99 and a beta of 0.66. Foot Locker has a 52-week low of $28.42 and a 52-week high of $79.43.

The company also recently declared a quarterly dividend, which will be paid on Friday, February 2nd. Stockholders of record on Friday, January 19th will be given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 2.89%. The ex-dividend date of this dividend is Thursday, January 18th. Foot Locker’s dividend payout ratio (DPR) is presently 31.16%.

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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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Earnings History and Estimates for Foot Locker (NYSE:FL)

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