Foot Locker (NYSE:FL) is set to issue its quarterly earnings data before the market opens on Friday, May 24th. Analysts expect the company to announce earnings of $1.62 per share for the quarter.
Foot Locker (NYSE:FL) last announced its earnings results on Friday, March 1st. The athletic footwear retailer reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.17. Foot Locker had a net margin of 6.81% and a return on equity of 21.92%. The company had revenue of $2.27 billion for the quarter, compared to analysts’ expectations of $2.18 billion. During the same quarter in the previous year, the company posted $1.26 EPS. The firm’s quarterly revenue was up 2.8% on a year-over-year basis. On average, analysts expect Foot Locker to post $5 EPS for the current fiscal year and $6 EPS for the next fiscal year.
NYSE FL opened at $55.47 on Friday. Foot Locker has a 52 week low of $43.34 and a 52 week high of $68.00. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.63 and a current ratio of 3.30. The firm has a market cap of $6.29 billion, a PE ratio of 11.78, a P/E/G ratio of 1.14 and a beta of 0.71.
Foot Locker declared that its board has approved a stock repurchase program on Wednesday, February 20th that authorizes the company to buyback $1.20 billion in outstanding shares. This buyback authorization authorizes the athletic footwear retailer to buy up to 17.7% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.
The business also recently declared a quarterly dividend, which was paid on Friday, May 3rd. Stockholders of record on Thursday, April 18th were issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 2.74%. The ex-dividend date was Wednesday, April 17th. This is a positive change from Foot Locker’s previous quarterly dividend of $0.35. Foot Locker’s payout ratio is currently 32.27%.
Several research analysts have recently commented on FL shares. Credit Suisse Group lifted their price target on Foot Locker from $63.00 to $70.00 and gave the stock an “outperform” rating in a report on Monday, February 25th. Zacks Investment Research lowered Foot Locker from a “buy” rating to a “hold” rating in a report on Friday, February 1st. Guggenheim reiterated a “buy” rating and set a $66.00 price target on shares of Foot Locker in a report on Thursday, February 21st. Pivotal Research lowered Foot Locker from a “buy” rating to a “hold” rating and set a $64.00 price target on the stock. in a report on Tuesday, February 26th. Finally, ValuEngine lowered Foot Locker from a “buy” rating to a “hold” rating in a report on Saturday, March 9th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and fourteen have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $65.85.
In related news, CEO Richard A. Johnson sold 80,000 shares of the business’s stock in a transaction dated Wednesday, February 20th. The shares were sold at an average price of $60.01, for a total value of $4,800,800.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.40% of the stock is currently owned by insiders.
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Foot Locker Company Profile
Foot Locker, Inc, through its subsidiaries, operates as an athletic shoes and apparel retailer. The company operates in two segments, Athletic Stores and Direct-to-Customers. The Athletic Stores segment retails athletic footwear, apparel, accessories, and equipment under various formats, including Foot Locker, Kids Foot Locker, Lady Foot Locker, Champs Sports, Footaction, Runners Point, Sidestep, and SIX:02.
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