Foot Locker’s (FL) “Outperform” Rating Reiterated at Wedbush
Wedbush restated their outperform rating on shares of Foot Locker, Inc. (NYSE:FL) in a research note issued to investors on Monday. The brokerage currently has a $39.00 target price on the athletic footwear retailer’s stock, down from their previous target price of $46.00. Wedbush also issued estimates for Foot Locker’s Q3 2018 earnings at $0.84 EPS, Q4 2018 earnings at $1.27 EPS, Q4 2018 earnings at $1.20 EPS, FY2018 earnings at $4.05 EPS, FY2018 earnings at $4.09 EPS, FY2019 earnings at $3.90 EPS and FY2019 earnings at $3.85 EPS.
Several other equities analysts have also issued reports on FL. B. Riley reissued a neutral rating on shares of Foot Locker in a research note on Wednesday, November 1st. Robert W. Baird lowered Foot Locker from an outperform rating to a neutral rating in a research report on Monday, August 21st. Piper Jaffray Companies reaffirmed a neutral rating on shares of Foot Locker in a research report on Monday, August 21st. Telsey Advisory Group reduced their price target on Foot Locker from $36.00 to $34.00 and set a market perform rating on the stock in a research report on Monday, November 13th. Finally, Citigroup Inc. increased their price target on Foot Locker from $40.00 to $47.00 and gave the company a buy rating in a research report on Monday. Two investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and twelve have given a buy rating to the company. Foot Locker presently has an average rating of Hold and a consensus target price of $53.26.
Foot Locker (NYSE FL) opened at $40.54 on Monday. Foot Locker has a 12 month low of $28.42 and a 12 month high of $79.43. The company has a current ratio of 4.39, a quick ratio of 2.08 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $5,010.00, a PE ratio of 9.64, a P/E/G ratio of 2.76 and a beta of 0.66.
Foot Locker (NYSE:FL) last posted its earnings results on Friday, November 17th. The athletic footwear retailer reported $0.87 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.80 by $0.07. Foot Locker had a return on equity of 19.96% and a net margin of 6.79%. The firm had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.82 billion. During the same quarter in the prior year, the company earned $1.13 EPS. Foot Locker’s revenue was down .8% on a year-over-year basis. analysts forecast that Foot Locker will post 4.04 earnings per share for the current year.
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The company also recently declared a quarterly dividend, which will be paid on Friday, February 2nd. Investors of record on Friday, January 19th will be paid a dividend of $0.31 per share. The ex-dividend date is Thursday, January 18th. This represents a $1.24 dividend on an annualized basis and a yield of 3.06%. Foot Locker’s dividend payout ratio is presently 31.23%.
Large investors have recently added to or reduced their stakes in the stock. Janus Henderson Group PLC grew its stake in shares of Foot Locker by 1,291.0% in the 2nd quarter. Janus Henderson Group PLC now owns 203,991 shares of the athletic footwear retailer’s stock valued at $10,053,000 after purchasing an additional 189,326 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Foot Locker by 10.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 971,685 shares of the athletic footwear retailer’s stock valued at $47,882,000 after purchasing an additional 91,716 shares during the last quarter. Tobam grew its stake in shares of Foot Locker by 47.1% in the 2nd quarter. Tobam now owns 428,449 shares of the athletic footwear retailer’s stock valued at $21,114,000 after purchasing an additional 137,206 shares during the last quarter. Bridgewater Associates LP grew its stake in shares of Foot Locker by 158.1% in the 2nd quarter. Bridgewater Associates LP now owns 228,939 shares of the athletic footwear retailer’s stock valued at $11,282,000 after purchasing an additional 140,253 shares during the last quarter. Finally, Sentry Investment Management LLC grew 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 purchasing an additional 6,014 shares during the last quarter. Hedge funds and other institutional investors own 87.42% 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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