$1.85 Billion in Sales Expected for Foot Locker, Inc. (FL) This Quarter
Equities research analysts predict that Foot Locker, Inc. (NYSE:FL) will report sales of $1.85 billion for the current quarter, Zacks reports. Eight analysts have provided estimates for Foot Locker’s earnings, with the highest sales estimate coming in at $1.88 billion and the lowest estimate coming in at $1.81 billion. Foot Locker reported sales of $1.89 billion during the same quarter last year, which indicates a negative year-over-year growth rate of 2.1%. The firm is expected to announce its next quarterly earnings report on Friday, November 17th.
On average, analysts expect that Foot Locker will report full year sales of $1.85 billion for the current fiscal year, with estimates ranging from $7.63 billion to $7.80 billion. For the next year, analysts expect that the company will report sales of $7.72 billion per share, with estimates ranging from $7.40 billion to $8.03 billion. Zacks’ sales calculations are an average based on a survey of research firms that follow Foot Locker.
Foot Locker (NYSE:FL) last issued its earnings results on Friday, August 18th. The athletic footwear retailer reported $0.62 EPS for the quarter, missing the Zacks’ consensus estimate of $0.90 by ($0.28). Foot Locker had a net margin of 7.49% and a return on equity of 21.52%. The business had revenue of $1.70 billion during the quarter, compared to analysts’ expectations of $1.80 billion. During the same period in the prior year, the business posted $0.94 EPS. The business’s revenue was down 4.4% on a year-over-year basis.
Several analysts have commented on FL shares. BidaskClub downgraded shares of Foot Locker from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 25th. TheStreet downgraded shares of Foot Locker from a “b-” rating to a “c+” rating in a report on Friday, June 30th. Morgan Stanley reaffirmed an “overweight” rating and set a $50.00 price objective (down from $65.00) on shares of Foot Locker in a report on Tuesday, August 29th. Jefferies Group LLC set a $80.00 price objective on shares of Foot Locker and gave the stock a “buy” rating in a report on Tuesday, June 20th. Finally, Oppenheimer Holdings, Inc. initiated coverage on shares of Foot Locker in a report on Friday, July 7th. They set a “market perform” rating for the company. Three equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and thirteen have assigned a buy rating to the stock. Foot Locker currently has a consensus rating of “Hold” and an average price target of $64.38.
Several hedge funds have recently made changes to their positions in the company. Eqis Capital Management Inc. raised its stake in shares of Foot Locker by 16.9% in the 3rd quarter. Eqis Capital Management Inc. now owns 21,401 shares of the athletic footwear retailer’s stock valued at $754,000 after buying an additional 3,090 shares in the last quarter. Sentry Investment Management LLC raised its stake in shares of Foot Locker by 131.7% in the 2nd quarter. Sentry Investment Management LLC now owns 10,579 shares of the athletic footwear retailer’s stock valued at $521,000 after buying an additional 6,014 shares in the last quarter. Toronto Dominion Bank raised its stake in shares of Foot Locker by 24.5% in the 2nd quarter. Toronto Dominion Bank now owns 44,472 shares of the athletic footwear retailer’s stock valued at $2,190,000 after buying an additional 8,746 shares in the last quarter. Advisory Services Network LLC increased its position in shares of Foot Locker by 13.1% during the 2nd quarter. Advisory Services Network LLC now owns 5,467 shares of the athletic footwear retailer’s stock worth $269,000 after purchasing an additional 632 shares in the last quarter. Finally, Afam Capital Inc. increased its position in shares of Foot Locker by 3.0% during the 2nd quarter. Afam Capital Inc. now owns 19,624 shares of the athletic footwear retailer’s stock worth $967,000 after purchasing an additional 573 shares in the last quarter. Institutional investors own 96.77% of the company’s stock.
Shares of Foot Locker (NYSE:FL) traded up 0.09% during trading on Thursday, hitting $34.41. 2,779,679 shares of the stock were exchanged. The stock’s 50 day moving average is $35.09 and its 200-day moving average is $54.07. Foot Locker has a 12-month low of $31.56 and a 12-month high of $79.43. The stock has a market cap of $4.27 billion, a price-to-earnings ratio of 7.95 and a beta of 0.72.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 27th. Stockholders of record on Friday, October 13th will be paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.60%. The ex-dividend date is Thursday, October 12th. Foot Locker’s dividend payout ratio is 28.57%.
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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