$1.84 Billion in Sales Expected for Foot Locker, Inc. (FL) This Quarter
Equities research analysts expect that Foot Locker, Inc. (NYSE:FL) will post $1.84 billion in sales for the current quarter, Zacks Investment Research reports. Seven analysts have provided estimates for Foot Locker’s earnings. The lowest sales estimate is $1.81 billion and the highest is $1.86 billion. Foot Locker reported sales of $1.89 billion in the same quarter last year, which indicates a negative year over year growth rate of 2.6%. The firm is scheduled to announce its next quarterly earnings results on Friday, November 17th.
According to Zacks, analysts expect that Foot Locker will report full year sales of $1.84 billion for the current financial year, with estimates ranging from $7.63 billion to $7.78 billion. For the next fiscal year, analysts expect that the business will report sales of $7.69 billion per share, with estimates ranging from $7.40 billion to $8.03 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Foot Locker.
Foot Locker (NYSE:FL) last released its earnings results on Friday, August 18th. The athletic footwear retailer reported $0.62 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.90 by ($0.28). The company had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.80 billion. Foot Locker had a net margin of 7.49% and a return on equity of 21.52%. The business’s revenue for the quarter was down 4.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.94 EPS.
A number of equities research analysts have recently weighed in on FL shares. ValuEngine cut Foot Locker from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Barclays PLC reaffirmed an “overweight” rating and set a $80.00 price target on shares of Foot Locker in a report on Thursday, June 22nd. Oppenheimer Holdings, Inc. initiated coverage on Foot Locker in a report on Friday, July 7th. They set a “market perform” rating for the company. Morgan Stanley reaffirmed an “overweight” rating and set a $50.00 price target (down from $65.00) on shares of Foot Locker in a report on Tuesday, August 29th. Finally, BidaskClub raised Foot Locker from a “strong sell” rating to a “sell” rating in a report on Monday, July 31st. Three analysts have rated the stock with a sell rating, fourteen have given a hold rating and twelve have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $65.81.
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Shares of Foot Locker (NYSE FL) traded down 3.34% during trading on Friday, reaching $35.05. The company’s stock had a trading volume of 3,552,376 shares. The company has a market capitalization of $4.35 billion, a PE ratio of 8.10 and a beta of 0.73. Foot Locker has a 1-year low of $31.56 and a 1-year high of $79.43. The stock has a 50 day moving average of $40.33 and a 200-day moving average of $57.66.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 27th. Investors of record on Friday, October 13th will be issued a $0.31 dividend. The ex-dividend date is Thursday, October 12th. This represents a $1.24 annualized dividend and a yield of 3.54%. Foot Locker’s dividend payout ratio (DPR) is presently 28.57%.
Large investors have recently bought and sold shares of the company. YorkBridge Wealth Partners LLC increased its holdings in shares of Foot Locker by 18.6% during the 1st quarter. YorkBridge Wealth Partners LLC now owns 1,360 shares of the athletic footwear retailer’s stock worth $104,000 after purchasing an additional 213 shares during the period. Van ECK Associates Corp increased its stake in Foot Locker by 5.6% in the first quarter. Van ECK Associates Corp now owns 2,047 shares of the athletic footwear retailer’s stock valued at $153,000 after acquiring an additional 109 shares during the period. D.A. Davidson & CO. increased its stake in Foot Locker by 50.3% in the second quarter. D.A. Davidson & CO. now owns 2,133 shares of the athletic footwear retailer’s stock valued at $105,000 after acquiring an additional 714 shares during the period. Pacer Advisors Inc. increased its stake in Foot Locker by 3.5% in the first quarter. Pacer Advisors Inc. now owns 2,630 shares of the athletic footwear retailer’s stock valued at $197,000 after acquiring an additional 88 shares during the period. Finally, Stratos Wealth Partners LTD. bought a new stake in Foot Locker in the first quarter valued at about $204,000. Institutional investors own 96.77% of the company’s stock.
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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