Brokerages forecast that Foot Locker (NYSE:FL) will post sales of $1.98 billion for the current fiscal quarter, according to Zacks. Eight analysts have issued estimates for Foot Locker’s earnings, with the lowest sales estimate coming in at $1.92 billion and the highest estimate coming in at $2.01 billion. Foot Locker reported sales of $2.00 billion during the same quarter last year, which would suggest a negative year-over-year growth rate of 1%. The firm is scheduled to report its next earnings results before the market opens on Friday, May 25th.
According to Zacks, analysts expect that Foot Locker will report full year sales of $7.77 billion for the current financial year, with estimates ranging from $7.54 billion to $7.94 billion. For the next fiscal year, analysts forecast that the company will report sales of $7.91 billion per share, with estimates ranging from $7.75 billion to $8.19 billion. Zacks’ sales averages are an average based on a survey of analysts that follow Foot Locker.
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Foot Locker (NYSE:FL) last released its quarterly earnings data on Friday, March 2nd. The athletic footwear retailer reported $1.26 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.01. Foot Locker had a net margin of 3.65% and a return on equity of 19.32%. The firm had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.23 billion. During the same period last year, the firm earned $1.37 earnings per share. The business’s quarterly revenue was up 4.6% compared to the same quarter last year.
Several brokerages have recently commented on FL. Pivotal Research reiterated a “buy” rating and issued a $57.00 target price (down previously from $65.00) on shares of Foot Locker in a report on Monday, March 5th. Robert W. Baird reiterated a “hold” rating on shares of Foot Locker in a report on Tuesday, March 6th. Buckingham Research reiterated a “buy” rating and issued a $54.00 target price on shares of Foot Locker in a report on Wednesday, April 18th. Wedbush reiterated an “outperform” rating on shares of Foot Locker in a report on Monday, February 5th. Finally, ValuEngine downgraded shares of Foot Locker from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating and sixteen have assigned a buy rating to the company’s stock. Foot Locker currently has a consensus rating of “Hold” and a consensus target price of $54.79.
Shares of Foot Locker stock traded down $1.15 during trading hours on Friday, reaching $40.52. The company’s stock had a trading volume of 3,374,905 shares, compared to its average volume of 3,423,045. Foot Locker has a one year low of $28.42 and a one year high of $77.71. The firm has a market capitalization of $5.05 billion, a price-to-earnings ratio of 9.84, a price-to-earnings-growth ratio of 1.46 and a beta of 0.86. The company has a current ratio of 4.14, a quick ratio of 2.07 and a debt-to-equity ratio of 0.05.
The business also recently disclosed a quarterly dividend, which was paid on Friday, May 4th. Investors of record on Friday, April 20th were issued a dividend of $0.345 per share. This represents a $1.38 dividend on an annualized basis and a yield of 3.41%. The ex-dividend date of this dividend was Thursday, April 19th. This is an increase from Foot Locker’s previous quarterly dividend of $0.31. Foot Locker’s dividend payout ratio (DPR) is 33.58%.
In other news, Director Jarobin Gilbert, Jr. sold 1,500 shares of Foot Locker stock in a transaction dated Monday, March 12th. The shares were sold at an average price of $43.44, for a total value of $65,160.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Lewis Phillip Kimble sold 11,043 shares of Foot Locker stock in a transaction dated Monday, March 12th. The stock was sold at an average price of $42.71, for a total transaction of $471,646.53. The disclosure for this sale can be found here. Company insiders own 2.10% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of FL. CenterStar Asset Management LLC purchased a new position in shares of Foot Locker in the fourth quarter worth about $138,000. Truewealth LLC purchased a new position in shares of Foot Locker in the fourth quarter worth about $169,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Foot Locker in the fourth quarter worth about $188,000. Advisor Partners LLC purchased a new position in shares of Foot Locker in the first quarter worth about $209,000. Finally, Cigna Investments Inc. New purchased a new position in shares of Foot Locker in the fourth quarter worth about $217,000. Hedge funds and other institutional investors own 93.73% of the company’s stock.
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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