Wall Street brokerages expect that Foot Locker, Inc. (NYSE:FL) will announce $1.84 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have issued estimates for Foot Locker’s earnings, with the highest sales estimate coming in at $1.86 billion and the lowest estimate coming in at $1.81 billion. Foot Locker posted sales of $1.89 billion in the same quarter last year, which suggests a negative year over year growth rate of 2.6%. The firm is scheduled to announce its next earnings report on Friday, November 17th.
On average, analysts expect that Foot Locker will report full year sales of $1.84 billion for the current financial year, with estimates ranging from $7.63 billion to $7.78 billion. For the next fiscal year, analysts expect that the firm will report sales of $7.69 billion per share, with estimates ranging from $7.40 billion to $8.03 billion. Zacks’ sales averages are an average based on a survey of analysts that that provide coverage for Foot Locker.
Foot Locker (NYSE:FL) last issued its quarterly earnings data on Friday, August 18th. The athletic footwear retailer reported $0.62 EPS for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.28). The business had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.80 billion. Foot Locker had a return on equity of 21.52% and a net margin of 7.49%. The business’s quarterly revenue was down 4.4% on a year-over-year basis. During the same period last year, the firm earned $0.94 EPS.
FL has been the subject of several recent research 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. Jefferies Group LLC set a $80.00 price target on shares of Foot Locker and gave the company a “buy” rating in a research report on Tuesday, June 20th. Morgan Stanley reissued an “overweight” rating and issued a $50.00 price target (down previously from $65.00) on shares of Foot Locker in a research report on Tuesday, August 29th. Finally, Oppenheimer Holdings, Inc. initiated coverage on shares of Foot Locker in a research report on Friday, July 7th. They issued a “market perform” rating for the company. Three investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twelve have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $65.81.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in Foot Locker by 1.6% in the second quarter. Vanguard Group Inc. now owns 13,187,732 shares of the athletic footwear retailer’s stock valued at $649,891,000 after purchasing an additional 201,518 shares during the period. BlackRock Inc. increased its stake in Foot Locker by 2,189.3% in the first quarter. BlackRock Inc. now owns 9,163,944 shares of the athletic footwear retailer’s stock valued at $685,553,000 after purchasing an additional 8,763,641 shares during the period. State Street Corp increased its stake in Foot Locker by 1.7% in the first quarter. State Street Corp now owns 6,167,116 shares of the athletic footwear retailer’s stock valued at $461,353,000 after purchasing an additional 105,750 shares during the period. APG Asset Management N.V. increased its stake in Foot Locker by 23.4% in the second quarter. APG Asset Management N.V. now owns 2,497,431 shares of the athletic footwear retailer’s stock valued at $123,073,000 after purchasing an additional 473,289 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ increased its stake in Foot Locker by 6.4% in the first quarter. Skandinaviska Enskilda Banken AB publ now owns 2,091,976 shares of the athletic footwear retailer’s stock valued at $156,501,000 after purchasing an additional 126,500 shares during the period. Institutional investors own 91.36% of the company’s stock.
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Foot Locker (NYSE FL) opened at 36.93 on Friday. Foot Locker has a 52 week low of $31.56 and a 52 week high of $79.43. The company has a 50-day moving average of $40.95 and a 200-day moving average of $58.51. The company has a market cap of $4.87 billion, a P/E ratio of 8.53 and a beta of 0.73.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 27th. Shareholders 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 yield of 3.36%. Foot Locker’s dividend payout ratio is presently 28.57%.
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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