Foot Locker, Inc. (NYSE:FL) Expected to Announce Quarterly Sales of $2.20 Billion

Wall Street brokerages expect Foot Locker, Inc. (NYSE:FLGet Rating) to post $2.20 billion in sales for the current fiscal quarter, according to Zacks. Six analysts have provided estimates for Foot Locker’s earnings. The highest sales estimate is $2.28 billion and the lowest is $2.12 billion. Foot Locker posted sales of $2.15 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 2.3%. The business is expected to announce its next quarterly earnings results before the market opens on Monday, January 1st.

On average, analysts expect that Foot Locker will report full-year sales of $8.49 billion for the current year, with estimates ranging from $8.40 billion to $8.54 billion. For the next financial year, analysts expect that the company will post sales of $8.37 billion, with estimates ranging from $8.03 billion to $8.97 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Foot Locker.

Foot Locker (NYSE:FLGet Rating) last issued its earnings results on Friday, February 25th. The athletic footwear retailer reported $1.67 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.24. The business had revenue of $2.34 billion for the quarter, compared to analyst estimates of $2.34 billion. Foot Locker had a net margin of 9.97% and a return on equity of 25.11%. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same period last year, the company posted $1.55 earnings per share.

A number of equities analysts have recently commented on the stock. Credit Suisse Group lowered shares of Foot Locker from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $70.00 to $30.00 in a research report on Friday, February 25th. Seaport Res Ptn lowered shares of Foot Locker from a “buy” rating to a “neutral” rating in a research report on Sunday, February 27th. StockNews.com began coverage on shares of Foot Locker in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Cowen downgraded shares of Foot Locker from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $42.00 to $34.00 in a research note on Monday, March 28th. Finally, B. Riley downgraded shares of Foot Locker from a “buy” rating to a “neutral” rating and set a $34.00 price objective on the stock. in a research note on Tuesday, March 1st. Six equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $42.83.

In other news, VP John A. Maurer sold 3,650 shares of Foot Locker stock in a transaction on Wednesday, March 16th. The shares were sold at an average price of $31.00, for a total transaction of $113,150.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 3.00% of the company’s stock.

Large investors have recently bought and sold shares of the company. Meeder Asset Management Inc. acquired a new stake in shares of Foot Locker during the first quarter worth $25,000. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Foot Locker by 173.9% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 849 shares of the athletic footwear retailer’s stock worth $25,000 after purchasing an additional 539 shares during the last quarter. Oakworth Capital Inc. purchased a new position in shares of Foot Locker during the fourth quarter worth $27,000. Advisors Asset Management Inc. raised its holdings in shares of Foot Locker by 124.9% during the fourth quarter. Advisors Asset Management Inc. now owns 794 shares of the athletic footwear retailer’s stock worth $35,000 after purchasing an additional 441 shares during the last quarter. Finally, Neo Ivy Capital Management purchased a new position in shares of Foot Locker during the fourth quarter worth $54,000. Institutional investors and hedge funds own 83.43% of the company’s stock.

Shares of NYSE:FL traded up $1.27 during trading on Monday, reaching $29.77. 2,389,101 shares of the company were exchanged, compared to its average volume of 1,916,971. The firm has a market capitalization of $2.86 billion, a PE ratio of 3.48, a P/E/G ratio of 0.19 and a beta of 1.28. The business’s fifty day simple moving average is $30.00 and its 200-day simple moving average is $39.44. Foot Locker has a 12-month low of $26.36 and a 12-month high of $66.71. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.36 and a quick ratio of 0.63.

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 29th. Stockholders of record on Thursday, April 14th were paid a dividend of $0.40 per share. This is an increase from Foot Locker’s previous quarterly dividend of $0.30. This represents a $1.60 annualized dividend and a dividend yield of 5.37%. The ex-dividend date of this dividend was Wednesday, April 13th. Foot Locker’s payout ratio is presently 18.69%.

Foot Locker Company Profile (Get Rating)

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, atmos, WSS, Footaction, and Sidestep brand names.

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

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