Foot Locker, Inc. (NYSE:FL) Expected to Announce Earnings of $1.07 Per Share

Equities analysts forecast that Foot Locker, Inc. (NYSE:FL) will announce $1.07 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Eight analysts have provided estimates for Foot Locker’s earnings. The lowest EPS estimate is $1.04 and the highest is $1.10. Foot Locker posted earnings per share of $0.95 in the same quarter last year, which indicates a positive year-over-year growth rate of 12.6%. The company is expected to announce its next earnings report before the market opens on Friday, November 22nd.

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On average, analysts expect that Foot Locker will report full year earnings of $4.94 per share for the current year, with EPS estimates ranging from $4.82 to $5.05. For the next fiscal year, analysts expect that the firm will report earnings of $5.27 per share, with EPS estimates ranging from $4.78 to $5.65. Zacks’ EPS calculations are a mean average based on a survey of research firms that that provide coverage for Foot Locker.

Foot Locker (NYSE:FL) last released its quarterly earnings results on Friday, August 23rd. The athletic footwear retailer reported $0.66 earnings per share for the quarter, hitting the consensus estimate of $0.66. Foot Locker had a net margin of 6.51% and a return on equity of 21.05%. The business had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.83 billion. During the same period in the previous year, the company earned $0.75 earnings per share. The firm’s revenue for the quarter was down .4% compared to the same quarter last year.

Several research analysts recently weighed in on FL shares. Deutsche Bank cut their price target on shares of Foot Locker from $68.00 to $63.00 and set a “buy” rating on the stock in a report on Monday, August 19th. Bank of America set a $33.00 price target on shares of Foot Locker and gave the stock a “sell” rating in a report on Friday, August 23rd. Barclays restated an “outperform” rating and set a $50.00 price target on shares of Foot Locker in a report on Wednesday, November 13th. Susquehanna Bancshares upgraded shares of Foot Locker from a “neutral” rating to a “positive” rating and boosted their price target for the stock from $39.00 to $55.00 in a report on Friday, November 8th. Finally, Credit Suisse Group cut their price target on shares of Foot Locker from $65.00 to $53.00 and set an “outperform” rating on the stock in a report on Monday, August 26th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and fourteen have issued a buy rating to the company. Foot Locker presently has an average rating of “Buy” and an average target price of $55.10.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Amundi Pioneer Asset Management Inc. increased its stake in shares of Foot Locker by 192.6% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 152,402 shares of the athletic footwear retailer’s stock worth $9,235,000 after purchasing an additional 100,318 shares during the period. Empirical Finance LLC increased its stake in shares of Foot Locker by 0.9% in the second quarter. Empirical Finance LLC now owns 48,871 shares of the athletic footwear retailer’s stock worth $2,049,000 after purchasing an additional 433 shares during the period. Empowered Funds LLC increased its stake in shares of Foot Locker by 31.9% in the second quarter. Empowered Funds LLC now owns 53,157 shares of the athletic footwear retailer’s stock worth $2,228,000 after purchasing an additional 12,862 shares during the period. Smithbridge Asset Management Inc. DE increased its stake in shares of Foot Locker by 109.7% in the second quarter. Smithbridge Asset Management Inc. DE now owns 44,142 shares of the athletic footwear retailer’s stock worth $1,850,000 after purchasing an additional 23,090 shares during the period. Finally, New England Research & Management Inc. bought a new position in shares of Foot Locker in the second quarter worth about $902,000. Hedge funds and other institutional investors own 97.90% of the company’s stock.

Foot Locker stock traded down $1.21 during midday trading on Friday, hitting $40.25. 918,551 shares of the stock were exchanged, compared to its average volume of 1,769,616. Foot Locker has a 52-week low of $33.12 and a 52-week high of $68.00. The stock has a market capitalization of $4.68 billion, a price-to-earnings ratio of 8.55, a price-to-earnings-growth ratio of 0.91 and a beta of 0.98. The business’s 50-day moving average price is $44.05 and its 200-day moving average price is $43.06. The company has a quick ratio of 0.99, a current ratio of 1.99 and a debt-to-equity ratio of 1.14.

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 17th will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 3.78%. The ex-dividend date of this dividend is Thursday, January 16th. Foot Locker’s payout ratio is 32.27%.

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.

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

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