Foot Locker, Inc. Forecasted to Post FY2019 Earnings of $4.45 Per Share (FL)

Foot Locker, Inc. (NYSE:FL) – Investment analysts at Piper Jaffray Companies lifted their FY2019 earnings per share (EPS) estimates for shares of Foot Locker in a report released on Tuesday, November 20th. Piper Jaffray Companies analyst E. Murphy now anticipates that the athletic footwear retailer will post earnings per share of $4.45 for the year, up from their previous estimate of $4.35. Piper Jaffray Companies has a “Hold” rating and a $51.00 price objective on the stock. Piper Jaffray Companies also issued estimates for Foot Locker’s Q1 2020 earnings at $1.50 EPS, Q3 2020 earnings at $0.92 EPS, Q1 2021 earnings at $1.50 EPS, Q2 2021 earnings at $0.79 EPS, Q3 2021 earnings at $0.89 EPS and FY2021 earnings at $4.55 EPS.

Foot Locker (NYSE:FL) last issued its earnings results on Tuesday, November 20th. The athletic footwear retailer reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.03. The company had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.86 billion. Foot Locker had a return on equity of 21.01% and a net margin of 4.24%. Foot Locker’s quarterly revenue was down .5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.87 EPS.

Several other equities research analysts have also recently weighed in on FL. ValuEngine cut Foot Locker from a “hold” rating to a “sell” rating in a report on Saturday, July 28th. Morgan Stanley initiated coverage on Foot Locker in a report on Wednesday, August 1st. They set an “underweight” rating and a $44.00 target price for the company. Zacks Investment Research cut Foot Locker from a “buy” rating to a “hold” rating in a report on Friday, August 10th. OTR Global upgraded Foot Locker to a “positive” rating in a report on Thursday, August 16th. Finally, Canaccord Genuity set a $66.00 target price on Foot Locker and gave the company a “buy” rating in a report on Friday, August 17th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and sixteen have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $58.91.

Shares of FL stock opened at $52.96 on Thursday. The stock has a market cap of $6.08 billion, a P/E ratio of 12.89, a P/E/G ratio of 1.84 and a beta of 0.84. Foot Locker has a 1-year low of $38.17 and a 1-year high of $59.40. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.42 and a quick ratio of 1.76.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. O Shaughnessy Asset Management LLC purchased a new position in shares of Foot Locker in the 3rd quarter valued at approximately $124,000. Stratos Wealth Partners LTD. purchased a new position in shares of Foot Locker in the 3rd quarter valued at approximately $146,000. Stephens Inc. AR bought a new position in Foot Locker during the 2nd quarter valued at approximately $203,000. Fiera Capital Corp bought a new position in Foot Locker during the 2nd quarter valued at approximately $208,000. Finally, Advisors Asset Management Inc. increased its position in Foot Locker by 61.6% during the 2nd quarter. Advisors Asset Management Inc. now owns 4,176 shares of the athletic footwear retailer’s stock valued at $220,000 after buying an additional 1,592 shares in the last quarter.

In other Foot Locker news, Director Matthew M. Mckenna sold 7,000 shares of the stock in a transaction that occurred on Monday, November 19th. The stock was sold at an average price of $50.81, for a total value of $355,670.00. Following the completion of the sale, the director now owns 30,459 shares in the company, valued at approximately $1,547,621.79. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 2.90% of the company’s stock.

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

About Foot Locker

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.

Recommended Story: Cost of Equity

Earnings History and Estimates for Foot Locker (NYSE:FL)

Receive News & Ratings for Foot Locker Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Foot Locker and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply