FY2018 Earnings Forecast for Foot Locker, Inc. Issued By Wedbush (FL)
Foot Locker, Inc. (NYSE:FL) – Equities research analysts at Wedbush decreased their FY2018 earnings per share (EPS) estimates for Foot Locker in a note issued to investors on Monday. Wedbush analyst C. Svezia now forecasts that the athletic footwear retailer will post earnings per share of $4.05 for the year, down from their previous forecast of $4.09. Wedbush has a “Outperform” rating and a $39.00 price target on the stock. Wedbush also issued estimates for Foot Locker’s Q4 2018 earnings at $1.20 EPS.
Foot Locker (NYSE:FL) last posted its quarterly earnings results on Friday, November 17th. The athletic footwear retailer reported $0.87 earnings per share for the quarter, beating the Zacks’ 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 during the quarter, compared to the consensus estimate of $1.82 billion. During the same period last year, the company earned $1.13 earnings per share. The business’s revenue was down .8% compared to the same quarter last year. ILLEGAL ACTIVITY NOTICE: This piece was published by Watch List News and is owned by of Watch List News. If you are viewing this piece on another site, it was stolen and republished in violation of US & international copyright and trademark law. The original version of this piece can be read at https://www.watchlistnews.com/fy2018-earnings-forecast-for-foot-locker-inc-issued-by-wedbush-fl/1722425.html.
Other equities research analysts have also issued research reports about the company. Barclays PLC set a $80.00 price objective on Foot Locker and gave the stock a “buy” rating in a research report on Saturday, August 5th. Jefferies Group LLC reissued a “buy” rating and issued a $80.00 price objective on shares of Foot Locker in a research note on Thursday, August 3rd. Buckingham Research reissued a “buy” rating and issued a $47.00 price objective (down from $61.00) on shares of Foot Locker in a research note on Tuesday, August 22nd. ValuEngine raised Foot Locker from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Finally, Deutsche Bank AG raised Foot Locker from a “hold” rating to a “buy” rating and upped their target price for the company from $38.00 to $45.00 in a report on Friday, November 17th. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and twelve have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $53.26.
Foot Locker (NYSE:FL) traded down $0.15 on Wednesday, hitting $40.54. The stock had a trading volume of 3,004,580 shares, compared to its average volume of 3,473,425. The firm has a market capitalization of $5,010.00, a PE ratio of 9.64, a price-to-earnings-growth ratio of 2.76 and a beta of 0.66. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.08 and a current ratio of 4.39. Foot Locker has a 52 week low of $28.42 and a 52 week high of $79.43.
The company also recently announced a quarterly dividend, which will be paid on Friday, February 2nd. Investors of record on Friday, January 19th will be given 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 payout ratio is 31.23%.
A number of large investors have recently bought and sold shares of the stock. D.A. Davidson & CO. raised its holdings in shares of 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 worth $105,000 after buying an additional 714 shares during the last quarter. Smithfield Trust Co. raised its holdings in shares of Foot Locker by 276.2% in the third quarter. Smithfield Trust Co. now owns 3,198 shares of the athletic footwear retailer’s stock worth $113,000 after buying an additional 2,348 shares during the last quarter. Assetmark Inc. raised its holdings in shares of Foot Locker by 205.0% in the third quarter. Assetmark Inc. now owns 3,834 shares of the athletic footwear retailer’s stock worth $135,000 after buying an additional 2,577 shares during the last quarter. Penserra Capital Management LLC raised its holdings in shares of Foot Locker by 13.0% in the second quarter. Penserra Capital Management LLC now owns 3,016 shares of the athletic footwear retailer’s stock worth $148,000 after buying an additional 348 shares during the last quarter. Finally, Exane Derivatives raised its holdings in shares of Foot Locker by 110,475.0% in the third quarter. Exane Derivatives now owns 4,423 shares of the athletic footwear retailer’s stock worth $156,000 after buying an additional 4,419 shares during the last quarter. 87.42% of the stock is owned by institutional investors.
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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