Foot Locker, Inc. (FL) Receives $61.66 Average Price Target from Brokerages
Shares of Foot Locker, Inc. (NYSE:FL) have earned a consensus recommendation of “Hold” from the thirty research firms that are currently covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, fourteen have given a hold recommendation and twelve have issued a buy recommendation on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $61.66.
FL has been the subject of several research analyst reports. BidaskClub cut shares of Foot Locker from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 25th. TheStreet cut shares of Foot Locker from a “b-” rating to a “c+” rating in a research report on Friday, June 30th. Morgan Stanley reaffirmed an “overweight” rating and issued a $50.00 target price (down from $65.00) on shares of Foot Locker in a research report on Tuesday, August 29th. Jefferies Group LLC set a $80.00 target price on shares of Foot Locker and gave the stock a “buy” rating in a research report on Tuesday, June 20th. Finally, Oppenheimer Holdings, Inc. assumed coverage on shares of Foot Locker in a research report on Friday, July 7th. They issued a “market perform” rating for the company.
Shares of Foot Locker (FL) traded up 1.03% during trading on Wednesday, hitting $35.22. 2,788,972 shares of the stock traded hands. Foot Locker has a 12 month low of $31.56 and a 12 month high of $79.43. The company has a 50 day moving average price of $40.33 and a 200 day moving average price of $57.66. The firm has a market cap of $4.37 billion, a price-to-earnings ratio of 8.14 and a beta of 0.73.
Foot Locker (NYSE:FL) last posted its earnings results on Friday, August 18th. The athletic footwear retailer reported $0.62 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.90 by ($0.28). Foot Locker had a return on equity of 21.52% and a net margin of 7.49%. The company 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 earnings per share. The company’s revenue for the quarter was down 4.4% on a year-over-year basis. Analysts anticipate that Foot Locker will post $3.97 earnings per share for the current fiscal year.
The business also recently declared 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. The ex-dividend date of this dividend is Thursday, October 12th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.52%. Foot Locker’s dividend payout ratio is presently 28.57%.
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Several hedge funds have recently made changes to their positions in the company. Alps Advisors Inc. grew its stake in shares of Foot Locker by 0.3% in the second quarter. Alps Advisors Inc. now owns 6,312 shares of the athletic footwear retailer’s stock worth $311,000 after acquiring an additional 17 shares during the period. Somerset Trust Co grew its stake in shares of Foot Locker by 0.7% in the second quarter. Somerset Trust Co now owns 6,100 shares of the athletic footwear retailer’s stock worth $300,000 after acquiring an additional 41 shares during the period. Honkamp Krueger Financial Services Inc. grew its stake in shares of Foot Locker by 0.4% in the second quarter. Honkamp Krueger Financial Services Inc. now owns 14,090 shares of the athletic footwear retailer’s stock worth $694,000 after acquiring an additional 61 shares during the period. Pacer Advisors Inc. grew its stake in shares of Foot Locker by 3.5% in the first quarter. Pacer Advisors Inc. now owns 2,630 shares of the athletic footwear retailer’s stock worth $197,000 after acquiring an additional 88 shares during the period. Finally, Van ECK Associates Corp grew its stake in shares of 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 worth $153,000 after acquiring an additional 109 shares during the period. Hedge funds and other 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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