Foot Locker, Inc. (NYSE:FL – Get Rating) – Stock analysts at Telsey Advisory Group reduced their Q2 2024 EPS estimates for Foot Locker in a research note issued on Monday, May 22nd. Telsey Advisory Group analyst C. Fernandez now forecasts that the athletic footwear retailer will earn $0.03 per share for the quarter, down from their prior forecast of $0.56. Telsey Advisory Group has a “Outperform” rating and a $50.00 price objective on the stock. The consensus estimate for Foot Locker’s current full-year earnings is $2.10 per share. Telsey Advisory Group also issued estimates for Foot Locker’s Q3 2024 earnings at $0.75 EPS, Q4 2024 earnings at $0.64 EPS, FY2024 earnings at $2.12 EPS, Q2 2025 earnings at $0.52 EPS, Q4 2025 earnings at $0.78 EPS and FY2025 earnings at $3.35 EPS.
FL has been the topic of several other research reports. Seaport Res Ptn reissued a “neutral” rating on shares of Foot Locker in a report on Tuesday, March 14th. Wedbush restated a “neutral” rating on shares of Foot Locker in a report on Tuesday, March 21st. Morgan Stanley reduced their target price on shares of Foot Locker from $33.00 to $30.00 in a report on Monday. Citigroup lowered shares of Foot Locker from a “buy” rating to a “neutral” rating and reduced their target price for the company from $48.00 to $30.00 in a report on Monday. Finally, Guggenheim dropped their target price on Foot Locker from $60.00 to $50.00 in a report on Monday. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Foot Locker currently has a consensus rating of “Hold” and an average target price of $38.80.
Foot Locker Trading Down 1.3 %
Foot Locker (NYSE:FL – Get Rating) last posted its quarterly earnings results on Friday, May 19th. The athletic footwear retailer reported $0.70 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.08). The business had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.99 billion. Foot Locker had a return on equity of 11.77% and a net margin of 2.88%. The business’s revenue was down 11.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.60 EPS.
Foot Locker Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, July 28th. Shareholders of record on Friday, July 14th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 6.20%. The ex-dividend date is Thursday, July 13th. Foot Locker’s dividend payout ratio is 62.02%.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of the company. Raymond James Financial Services Advisors Inc. bought a new position in Foot Locker during the 1st quarter worth $611,000. HighTower Advisors LLC boosted its stake in shares of Foot Locker by 4.9% in the 1st quarter. HighTower Advisors LLC now owns 14,934 shares of the athletic footwear retailer’s stock valued at $443,000 after purchasing an additional 704 shares during the last quarter. AlphaCrest Capital Management LLC grew its stake in Foot Locker by 19.4% during the first quarter. AlphaCrest Capital Management LLC now owns 13,103 shares of the athletic footwear retailer’s stock worth $389,000 after purchasing an additional 2,125 shares during the period. MetLife Investment Management LLC boosted its stake in Foot Locker by 29.0% during the first quarter. MetLife Investment Management LLC now owns 56,469 shares of the athletic footwear retailer’s stock worth $1,675,000 after acquiring an additional 12,703 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in Foot Locker by 6.9% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 32,002 shares of the athletic footwear retailer’s stock worth $949,000 after acquiring an additional 2,059 shares in the last quarter. 95.06% of the stock is currently owned by institutional investors and hedge funds.
Foot Locker Company Profile
Foot Locker, Inc engages in the retail of athletic shoes and apparel. The firm uses its omni-channel capabilities to bridge the digital world and physical stores, including order-in-store, buy online and pickup-in-store, and buy online and ship-from-store, as well as e-commerce. It operates through following segments: North America, EMEA (Europe, Middle East, and Africa, and Asia Pacific.
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