$1.82 Billion in Sales Expected for Foot Locker, Inc. (FL) This Quarter
Brokerages expect Foot Locker, Inc. (NYSE:FL) to announce $1.82 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have issued estimates for Foot Locker’s earnings, with estimates ranging from $1.78 billion to $1.86 billion. Foot Locker reported sales of $1.78 billion in the same quarter last year, which indicates a positive year over year growth rate of 2.2%. The company is scheduled to announce its next quarterly earnings report on Friday, August 18th.
On average, analysts expect that Foot Locker will report full-year sales of $1.82 billion for the current fiscal year, with estimates ranging from $8.01 billion to $8.22 billion. For the next financial year, analysts anticipate that the firm will post sales of $8.36 billion per share, with estimates ranging from $8.06 billion to $8.57 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Foot Locker.
Several analysts recently commented on the stock. B. Riley reiterated a “buy” rating and issued a $79.00 price objective on shares of Foot Locker in a research note on Wednesday, April 26th. Jefferies Group LLC reiterated a “buy” rating and issued a $88.00 price objective on shares of Foot Locker in a research note on Friday, April 21st. Zacks Investment Research cut shares of Foot Locker from a “buy” rating to a “hold” rating in a research note on Monday, April 24th. Cowen and Company reiterated a “market perform” rating and issued a $77.00 price objective on shares of Foot Locker in a research note on Sunday, April 23rd. Finally, Deutsche Bank AG reiterated a “buy” rating and issued a $88.00 price objective (down previously from $89.00) on shares of Foot Locker in a research note on Sunday, April 23rd. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $72.92.
Shares of Foot Locker (FL) opened at 49.80 on Thursday. The stock has a market cap of $6.54 billion, a PE ratio of 10.22 and a beta of 0.68. The stock’s 50 day moving average is $48.41 and its 200-day moving average is $64.80. Foot Locker has a 1-year low of $44.59 and a 1-year high of $79.43. Foot Locker also saw unusually large options trading activity on Tuesday. Stock traders bought 11,770 put options on the stock. This represents an increase of approximately 447% compared to the average daily volume of 2,150 put options.
The company also recently declared a quarterly dividend, which was paid on Friday, July 28th. Stockholders of record on Friday, July 14th were issued a dividend of $0.31 per share. The ex-dividend date of this dividend was Wednesday, July 12th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.49%. Foot Locker’s dividend payout ratio (DPR) is presently 25.36%.
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In related news, Director Jarobin Gilbert, Jr. sold 5,600 shares of the business’s stock in a transaction that occurred on Wednesday, May 24th. The shares were sold at an average price of $59.40, for a total value of $332,640.00. Following the completion of the sale, the director now directly owns 8,964 shares in the company, valued at $532,461.60. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 1.73% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in FL. Teachers Advisors LLC increased its stake in Foot Locker by 18.5% in the fourth quarter. Teachers Advisors LLC now owns 379,582 shares of the athletic footwear retailer’s stock worth $26,909,000 after buying an additional 59,167 shares during the last quarter. Macquarie Group Ltd. increased its stake in Foot Locker by 117.1% in the fourth quarter. Macquarie Group Ltd. now owns 7,600 shares of the athletic footwear retailer’s stock worth $539,000 after buying an additional 4,100 shares during the last quarter. Chevy Chase Trust Holdings Inc. increased its stake in Foot Locker by 0.9% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 114,421 shares of the athletic footwear retailer’s stock worth $8,559,000 after buying an additional 1,038 shares during the last quarter. Raymond James Trust N.A. increased its stake in Foot Locker by 34.3% in the first quarter. Raymond James Trust N.A. now owns 6,454 shares of the athletic footwear retailer’s stock worth $483,000 after buying an additional 1,650 shares during the last quarter. Finally, Creative Planning increased its stake in Foot Locker by 33.5% in the first quarter. Creative Planning now owns 8,700 shares of the athletic footwear retailer’s stock worth $651,000 after buying an additional 2,184 shares during the last quarter. Hedge funds and other institutional investors own 94.45% of the company’s stock.
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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