Foot Locker (NYSE:FL) Updates FY25 Earnings Guidance

Foot Locker (NYSE:FL) updated its FY25 earnings guidance on Wednesday. The company provided earnings per share guidance of $1.50-1.70 for the period, compared to the consensus earnings per share estimate of $1.57. The company issued revenue guidance of +/-1% yr/yr to ~$8.09-8.25 billion, compared to the consensus revenue estimate of $8.13 billion. Foot Locker also updated its FY 2024 guidance to 1.500-1.700 EPS.

Foot Locker Stock Up 6.3 %

Shares of Foot Locker stock opened at $31.30 on Friday. The firm’s 50-day moving average is $27.59 and its two-hundred day moving average is $26.22. Foot Locker has a 1 year low of $16.68 and a 1 year high of $35.60. The stock has a market cap of $2.96 billion, a price-to-earnings ratio of -8.26, a PEG ratio of 0.80 and a beta of 1.46. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.68 and a quick ratio of 0.50.

Foot Locker (NYSE:FL) last issued its quarterly earnings data on Wednesday, August 28th. The athletic footwear retailer reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.03. The company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.88 billion. Foot Locker had a negative net margin of 4.41% and a positive return on equity of 2.91%. As a group, research analysts expect that Foot Locker will post 1.51 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Robert W. Baird raised their price objective on Foot Locker from $26.00 to $35.00 and gave the company a neutral rating in a research report on Monday. Wedbush restated a neutral rating and issued a $25.00 price target on shares of Foot Locker in a report on Wednesday, June 12th. Barclays upgraded shares of Foot Locker from an equal weight rating to an overweight rating and boosted their price objective for the stock from $27.00 to $34.00 in a research note on Thursday. Telsey Advisory Group restated a market perform rating and issued a $27.00 target price on shares of Foot Locker in a research note on Wednesday. Finally, Evercore ISI upped their price target on Foot Locker from $34.00 to $38.00 and gave the stock an outperform rating in a research report on Monday. Five equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of Hold and a consensus target price of $26.40.

Insider Activity

In other news, major shareholder Vesa Equity Investment S.A R.L sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $32.90, for a total value of $49,350.00. Following the completion of the sale, the insider now directly owns 11,402,353 shares in the company, valued at $375,137,413.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 787,566 shares of company stock worth $26,090,866 over the last three months. Insiders own 1.20% of the company’s stock.

About Foot Locker

Foot Locker, Inc, through its subsidiaries, operates as a footwear and apparel retailer in North America, Europe, Australia, New Zealand, Asia, and the Middle East. Its brand portfolio includes Foot Locker, a brand comprising sneakers and apparel; Kids Foot Locker, which offers athletic footwear, apparel, and accessories for children; and Champs Sports that operates as a mall-based specialty athletic footwear and apparel retailer.