$1.85 Billion in Sales Expected for Foot Locker, Inc. (NYSE:FL) This Quarter

Equities research analysts predict that Foot Locker, Inc. (NYSE:FL) will announce $1.85 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have issued estimates for Foot Locker’s earnings. The lowest sales estimate is $1.64 billion and the highest is $2.04 billion. Foot Locker reported sales of $1.18 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 56.8%. The company is expected to announce its next quarterly earnings report on Friday, May 28th.

According to Zacks, analysts expect that Foot Locker will report full year sales of $8.00 billion for the current financial year, with estimates ranging from $7.74 billion to $8.33 billion. For the next financial year, analysts forecast that the business will post sales of $8.23 billion, with estimates ranging from $7.91 billion to $8.82 billion. Zacks’ sales averages are an average based on a survey of research firms that cover Foot Locker.

Foot Locker (NYSE:FL) last posted its earnings results on Thursday, February 25th. The athletic footwear retailer reported $1.55 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.35 by $0.20. The company had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.29 billion. Foot Locker had a return on equity of 12.35% and a net margin of 4.66%. The company’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same period in the previous year, the company earned $1.63 EPS.

Several research firms have recently weighed in on FL. Evercore ISI upgraded Foot Locker from an “in-line” rating to an “outperform” rating and lifted their price objective for the company from $40.00 to $75.00 in a report on Monday, March 1st. Deutsche Bank Aktiengesellschaft lifted their price objective on Foot Locker from $38.00 to $49.00 and gave the company a “hold” rating in a report on Thursday, January 21st. Cowen lifted their price objective on Foot Locker from $70.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, April 8th. They noted that the move was a valuation call. Citigroup upgraded Foot Locker from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $47.00 to $60.00 in a report on Friday, February 5th. Finally, Morgan Stanley cut their target price on Foot Locker from $52.00 to $50.00 and set an “equal weight” rating on the stock in a research note on Monday, March 8th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and sixteen have issued a buy rating to the company. Foot Locker has an average rating of “Buy” and an average target price of $50.04.

In related news, VP John A. Maurer sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 23rd. The stock was sold at an average price of $56.97, for a total transaction of $284,850.00. Following the transaction, the vice president now directly owns 24,283 shares of the company’s stock, valued at approximately $1,383,402.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.40% of the stock is currently owned by insiders.

Several hedge funds have recently bought and sold shares of the stock. Amundi Pioneer Asset Management Inc. grew its holdings in Foot Locker by 39.3% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 512,700 shares of the athletic footwear retailer’s stock valued at $20,735,000 after buying an additional 144,527 shares in the last quarter. Duality Advisers LP grew its holdings in Foot Locker by 338.9% in the 4th quarter. Duality Advisers LP now owns 67,638 shares of the athletic footwear retailer’s stock valued at $2,735,000 after buying an additional 52,228 shares in the last quarter. Meritage Portfolio Management acquired a new position in Foot Locker in the 1st quarter valued at $4,289,000. Paloma Partners Management Co grew its holdings in Foot Locker by 61.0% in the 4th quarter. Paloma Partners Management Co now owns 33,996 shares of the athletic footwear retailer’s stock valued at $1,375,000 after buying an additional 12,879 shares in the last quarter. Finally, Assenagon Asset Management S.A. acquired a new position in Foot Locker in the 1st quarter valued at $8,027,000. 78.08% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE:FL traded down $0.10 during trading on Thursday, hitting $61.31. 1,872,012 shares of the company’s stock traded hands, compared to its average volume of 1,749,894. Foot Locker has a 52 week low of $21.94 and a 52 week high of $62.10. The company has a current ratio of 1.83, a quick ratio of 1.06 and a debt-to-equity ratio of 0.05. The company has a market cap of $6.33 billion, a price-to-earnings ratio of 18.28, a price-to-earnings-growth ratio of 7.04 and a beta of 1.29. The company has a 50-day moving average price of $57.73 and a 200-day moving average price of $47.31.

The firm also recently announced a quarterly dividend, which was paid on Friday, April 30th. Investors of record on Friday, April 16th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, April 15th. This is a positive change from Foot Locker’s previous quarterly dividend of $0.15. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.30%. Foot Locker’s payout ratio is presently 16.23%.

About Foot Locker

Foot Locker, Inc, through its subsidiaries, operates as an athletic footwear and apparel retailer. The company engages in the retail of athletic footwear, apparel, accessories, equipment, and team licensed merchandise under the Foot Locker, Lady Foot Locker, Kids Foot Locker, Champs Sports, Eastbay, Footaction, Runners Point, and Sidestep brand names.

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

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