Zacks: Brokerages Expect Foot Locker, Inc. (FL) to Post $0.80 EPS
Wall Street analysts forecast that Foot Locker, Inc. (NYSE:FL) will report $0.80 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Eight analysts have issued estimates for Foot Locker’s earnings, with the lowest EPS estimate coming in at $0.75 and the highest estimate coming in at $0.86. Foot Locker reported earnings per share of $1.13 in the same quarter last year, which indicates a negative year over year growth rate of 29.2%. The business is scheduled to issue its next quarterly earnings results before the market opens on Friday, November 17th.
According to Zacks, analysts expect that Foot Locker will report full year earnings of $3.94 per share for the current financial year, with EPS estimates ranging from $3.85 to $4.05. For the next fiscal year, analysts expect that the company will report earnings of $3.74 per share, with EPS estimates ranging from $3.00 to $4.34. Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that that provide coverage for Foot Locker.
Foot Locker (NYSE:FL) last announced its earnings results on Friday, August 18th. The athletic footwear retailer reported $0.62 earnings per share for the quarter, missing the consensus estimate of $0.90 by ($0.28). The firm had revenue of $1.70 billion during the quarter, compared to analysts’ expectations of $1.80 billion. Foot Locker had a net margin of 7.49% and a return on equity of 21.52%. Foot Locker’s revenue for the quarter was down 4.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.94 earnings per share.
FL has been the topic of several recent analyst reports. BidaskClub cut shares of Foot Locker from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 25th. Morgan Stanley reaffirmed an “overweight” rating and issued a $50.00 price target (down from $65.00) on shares of Foot Locker in a report on Tuesday, August 29th. Deutsche Bank AG set a $72.00 price target on shares of Foot Locker and gave the company a “buy” rating in a report on Monday, July 17th. Zacks Investment Research raised shares of Foot Locker from a “sell” rating to a “hold” rating in a report on Monday, October 23rd. Finally, Cowen and Company set a $37.00 target price on shares of Foot Locker and gave the stock a “hold” rating in a report on Monday, October 23rd. Two equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eleven have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $61.22.
Shares of Foot Locker (NYSE FL) opened at $30.34 on Friday. The stock has a market cap of $3,760.00, a price-to-earnings ratio of 6.67, a P/E/G ratio of 2.08 and a beta of 0.66. The company has a quick ratio of 2.88, a current ratio of 5.63 and a debt-to-equity ratio of 0.04. Foot Locker has a twelve month low of $28.42 and a twelve month high of $79.43.
The business also recently announced a quarterly dividend, which was paid on Friday, October 27th. Investors of record on Friday, October 13th were given a $0.31 dividend. The ex-dividend date was Thursday, October 12th. This represents a $1.24 dividend on an annualized basis and a yield of 4.09%. Foot Locker’s dividend payout ratio is presently 28.64%.
A number of institutional investors and hedge funds have recently made changes to their positions in FL. Thrivent Financial For Lutherans grew its position in Foot Locker by 4.0% in the 1st quarter. Thrivent Financial For Lutherans now owns 4,890 shares of the athletic footwear retailer’s stock valued at $366,000 after buying an additional 190 shares in the last quarter. Renaissance Technologies LLC bought a new position in shares of Foot Locker during the 1st quarter valued at about $5,566,000. Janus Capital Management LLC boosted its position in shares of Foot Locker by 32.1% during the 1st quarter. Janus Capital Management LLC now owns 106,413 shares of the athletic footwear retailer’s stock valued at $7,960,000 after purchasing an additional 25,881 shares in the last quarter. DnB Asset Management AS boosted its position in shares of Foot Locker by 19.7% during the 2nd quarter. DnB Asset Management AS now owns 18,200 shares of the athletic footwear retailer’s stock valued at $897,000 after purchasing an additional 3,000 shares in the last quarter. Finally, Xact Kapitalforvaltning AB boosted its position in shares of Foot Locker by 0.5% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 30,496 shares of the athletic footwear retailer’s stock valued at $1,503,000 after purchasing an additional 159 shares in the last quarter. Hedge funds and other institutional investors own 95.29% 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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