Zacks: Brokerages Anticipate Foot Locker, Inc. (FL) Will Announce Earnings of $1.34 Per Share

Analysts expect Foot Locker, Inc. (NYSE:FL) to post earnings of $1.34 per share for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have provided estimates for Foot Locker’s earnings. The lowest EPS estimate is $1.21 and the highest is $1.44. Foot Locker reported earnings of $1.26 per share during the same quarter last year, which indicates a positive year over year growth rate of 6.3%. The business is scheduled to announce its next quarterly earnings report on Friday, March 1st.

According to Zacks, analysts expect that Foot Locker will report full year earnings of $4.50 per share for the current year, with EPS estimates ranging from $4.40 to $4.60. For the next financial year, analysts forecast that the firm will report earnings of $4.84 per share, with EPS estimates ranging from $4.20 to $5.08. Zacks’ EPS averages are a mean average based on a survey of sell-side research analysts that follow Foot Locker.

Foot Locker (NYSE:FL) last issued its quarterly earnings data on Tuesday, November 20th. The athletic footwear retailer reported $0.95 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.92 by $0.03. Foot Locker had a net margin of 4.24% and a return on equity of 20.88%. The business had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.86 billion. During the same period last year, the company posted $0.87 EPS. The company’s revenue was down .5% on a year-over-year basis.

FL has been the subject of a number of recent research reports. OTR Global raised shares of Foot Locker to a “positive” rating in a research note on Thursday, August 16th. Zacks Investment Research cut shares of Foot Locker from a “buy” rating to a “hold” rating in a research note on Friday, August 10th. Wells Fargo & Co raised shares of Foot Locker from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $50.00 to $58.00 in a research note on Monday, September 10th. ValuEngine cut shares of Foot Locker from a “hold” rating to a “sell” rating in a research note on Saturday, July 28th. Finally, Morgan Stanley initiated coverage on shares of Foot Locker in a research note on Wednesday, August 1st. They set an “underweight” rating and a $44.00 price objective for the company. One analyst has rated the stock with a sell rating, eight have given a hold rating and sixteen have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $58.91.

Shares of FL traded up $6.87 during mid-day trading on Thursday, reaching $52.96. 14,396,674 shares of the company’s stock were exchanged, compared to its average volume of 2,828,129. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.50 and a quick ratio of 1.76. Foot Locker has a 52-week low of $38.17 and a 52-week high of $59.40. The stock has a market cap of $5.30 billion, a price-to-earnings ratio of 12.89, a price-to-earnings-growth ratio of 1.61 and a beta of 0.84.

The company also recently announced a quarterly dividend, which will be paid on Friday, February 1st. Investors of record on Friday, January 18th will be given a dividend of $0.345 per share. The ex-dividend date of this dividend is Thursday, January 17th. This represents a $1.38 dividend on an annualized basis and a yield of 2.61%. Foot Locker’s dividend payout ratio (DPR) is currently 33.58%.

In related news, Director Matthew M. Mckenna sold 7,000 shares of the firm’s stock in a transaction that occurred on Monday, November 19th. The shares were sold at an average price of $50.81, for a total transaction of $355,670.00. Following the sale, the director now owns 30,459 shares in the company, valued at $1,547,621.79. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.90% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. Zacks Investment Management boosted its holdings in shares of Foot Locker by 5.4% in the 2nd quarter. Zacks Investment Management now owns 28,220 shares of the athletic footwear retailer’s stock valued at $1,486,000 after purchasing an additional 1,440 shares during the last quarter. Vestpro Financial Partners Inc. dba CPF Texas raised its stake in Foot Locker by 21.7% during the second quarter. Vestpro Financial Partners Inc. dba CPF Texas now owns 12,996 shares of the athletic footwear retailer’s stock worth $684,000 after acquiring an additional 2,321 shares in the last quarter. Public Employees Retirement System of Ohio raised its stake in Foot Locker by 21.0% during the second quarter. Public Employees Retirement System of Ohio now owns 57,352 shares of the athletic footwear retailer’s stock worth $3,020,000 after acquiring an additional 9,963 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Foot Locker by 26.6% during the second quarter. Dimensional Fund Advisors LP now owns 2,157,573 shares of the athletic footwear retailer’s stock worth $113,606,000 after acquiring an additional 453,209 shares in the last quarter. Finally, Empowered Funds LLC raised its stake in Foot Locker by 24.0% during the third quarter. Empowered Funds LLC now owns 66,349 shares of the athletic footwear retailer’s stock worth $3,359,000 after acquiring an additional 12,853 shares in the last quarter.

Foot Locker Company Profile

Foot Locker, Inc, through its subsidiaries, operates as an athletic shoes and apparel retailer. The company operates in two segments, Athletic Stores and Direct-to-Customers. The Athletic Stores segment retails athletic footwear, apparel, accessories, and equipment under various formats, including Foot Locker, Kids Foot Locker, Lady Foot Locker, Champs Sports, Footaction, Runners Point, Sidestep, and SIX:02.

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