Foot Locker, Inc. (FL) Expected to Announce Quarterly Sales of $2.21 Billion

Equities analysts expect that Foot Locker, Inc. (NYSE:FL) will report $2.21 billion in sales for the current quarter, according to Zacks. Eight analysts have issued estimates for Foot Locker’s earnings, with estimates ranging from $2.09 billion to $2.27 billion. Foot Locker reported sales of $2.11 billion in the same quarter last year, which would suggest a positive year over year growth rate of 4.7%. The business is scheduled to announce its next quarterly earnings results on Friday, February 23rd.

According to Zacks, analysts expect that Foot Locker will report full-year sales of $2.21 billion for the current fiscal year, with estimates ranging from $7.67 billion to $7.84 billion. For the next financial year, analysts anticipate that the firm will report sales of $7.77 billion per share, with estimates ranging from $7.57 billion to $7.98 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover Foot Locker.

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

A number of research analysts have issued reports on FL shares. Zacks Investment Research raised Foot Locker from a “hold” rating to a “buy” rating and set a $53.00 price target for the company in a report on Tuesday, December 26th. Robert W. Baird reissued a “hold” rating and issued a $52.00 price target on shares of Foot Locker in a report on Wednesday. Citigroup reissued a “buy” rating and issued a $54.00 price target on shares of Foot Locker in a report on Tuesday, December 19th. Buckingham Research raised Foot Locker from a “neutral” rating to a “buy” rating and set a $57.00 price target for the company in a report on Friday. Finally, Standpoint Research downgraded Foot Locker from a “buy” rating to a “hold” rating and set a $66.00 price target for the company. in a report on Monday, December 4th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and thirteen have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $53.69.

Several hedge funds have recently made changes to their positions in FL. Renaissance Technologies LLC increased its position in shares of Foot Locker by 1,744.5% during the second quarter. Renaissance Technologies LLC now owns 1,372,300 shares of the athletic footwear retailer’s stock worth $67,627,000 after purchasing an additional 1,297,900 shares in the last quarter. Rockefeller Financial Services Inc. purchased a new stake in shares of Foot Locker during the third quarter worth approximately $42,618,000. Bank of New York Mellon Corp increased its position in shares of Foot Locker by 32.0% during the third quarter. Bank of New York Mellon Corp now owns 3,591,593 shares of the athletic footwear retailer’s stock worth $126,495,000 after purchasing an additional 870,899 shares in the last quarter. Koch Industries Inc. purchased a new stake in shares of Foot Locker during the second quarter worth approximately $720,000. Finally, Nomura Asset Management Co. Ltd. increased its position in shares of Foot Locker by 1,911.7% during the third quarter. Nomura Asset Management Co. Ltd. now owns 384,296 shares of the athletic footwear retailer’s stock worth $13,535,000 after purchasing an additional 365,193 shares in the last quarter. 89.85% of the stock is owned by institutional investors and hedge funds.

Foot Locker (NYSE FL) traded up $0.04 during trading on Friday, hitting $46.35. The company had a trading volume of 593,575 shares, compared to its average volume of 3,559,400. The company has a debt-to-equity ratio of 0.05, a current ratio of 4.41 and a quick ratio of 2.09. Foot Locker has a 12-month low of $28.42 and a 12-month high of $77.86. The firm has a market capitalization of $5,802.08, a P/E ratio of 11.65, a price-to-earnings-growth ratio of 2.35 and a beta of 0.82.

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 2nd. Stockholders of record on Friday, January 19th will be paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 2.68%. The ex-dividend date is Thursday, January 18th. Foot Locker’s payout ratio is 31.16%.

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

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