Foot Locker, Inc. (NYSE:FL) Expected to Announce Earnings of $0.66 Per Share

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Equities analysts expect Foot Locker, Inc. (NYSE:FL) to announce $0.66 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Eight analysts have provided estimates for Foot Locker’s earnings, with the lowest EPS estimate coming in at $0.62 and the highest estimate coming in at $0.72. Foot Locker posted earnings per share of $0.75 in the same quarter last year, which would suggest a negative year over year growth rate of 12%. The business is scheduled to announce its next earnings results on Friday, August 23rd.

On average, analysts expect that Foot Locker will report full-year earnings of $5.02 per share for the current financial year, with EPS estimates ranging from $4.83 to $5.15. For the next year, analysts anticipate that the company will report earnings of $5.44 per share, with EPS estimates ranging from $4.95 to $5.88. Zacks’ EPS calculations are a mean average based on a survey of research analysts that that provide coverage for Foot Locker.

Foot Locker (NYSE:FL) last announced its quarterly earnings results on Friday, May 24th. The athletic footwear retailer reported $1.53 earnings per share for the quarter, missing analysts’ consensus estimates of $1.61 by ($0.08). Foot Locker had a net margin of 6.86% and a return on equity of 21.75%. The company had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.11 billion. During the same quarter last year, the company earned $1.45 earnings per share. The business’s revenue was up 2.6% on a year-over-year basis.

A number of brokerages have weighed in on FL. Morgan Stanley lowered their price target on Foot Locker from $44.00 to $40.00 and set an “underweight” rating on the stock in a research report on Tuesday, May 28th. Deutsche Bank lowered their price target on Foot Locker from $82.00 to $68.00 and set a “buy” rating on the stock in a research report on Tuesday, May 28th. Pivotal Research reiterated a “buy” rating and issued a $60.00 price target on shares of Foot Locker in a research report on Tuesday, May 28th. Canaccord Genuity lowered their price target on Foot Locker from $82.00 to $81.00 and set a “buy” rating on the stock in a research report on Friday, May 24th. Finally, ValuEngine cut Foot Locker from a “hold” rating to a “sell” rating in a research report on Friday, May 24th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and fifteen have issued a buy rating to the company. Foot Locker currently has a consensus rating of “Buy” and a consensus price target of $67.26.

NYSE:FL traded down $0.61 during trading hours on Monday, reaching $42.51. The company had a trading volume of 2,298,092 shares, compared to its average volume of 3,192,289. The business has a 50-day simple moving average of $50.09. Foot Locker has a one year low of $39.06 and a one year high of $68.00. The firm has a market cap of $4.73 billion, a price-to-earnings ratio of 9.03, a PEG ratio of 0.87 and a beta of 1.00. The company has a quick ratio of 1.07, a current ratio of 2.01 and a debt-to-equity ratio of 1.12.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 2nd. Shareholders of record on Friday, July 19th will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 3.58%. The ex-dividend date is Thursday, July 18th. Foot Locker’s dividend payout ratio is currently 32.27%.

Foot Locker declared that its board has approved a share repurchase program on Wednesday, February 20th that allows the company to repurchase $1.20 billion in outstanding shares. This repurchase authorization allows the athletic footwear retailer to buy up to 17.7% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc grew its position in shares of Foot Locker by 0.7% in the third quarter. Vanguard Group Inc now owns 12,178,329 shares of the athletic footwear retailer’s stock valued at $620,851,000 after purchasing an additional 85,314 shares during the period. SG Americas Securities LLC lifted its stake in shares of Foot Locker by 263.7% in the fourth quarter. SG Americas Securities LLC now owns 19,847 shares of the athletic footwear retailer’s stock worth $1,056,000 after buying an additional 14,390 shares in the last quarter. First Mercantile Trust Co. lifted its stake in shares of Foot Locker by 20.7% in the fourth quarter. First Mercantile Trust Co. now owns 1,980 shares of the athletic footwear retailer’s stock worth $105,000 after buying an additional 340 shares in the last quarter. Hartford Investment Management Co. lifted its stake in shares of Foot Locker by 23.1% in the fourth quarter. Hartford Investment Management Co. now owns 23,419 shares of the athletic footwear retailer’s stock worth $1,246,000 after buying an additional 4,390 shares in the last quarter. Finally, Financial Gravity Companies Inc. purchased a new position in shares of Foot Locker in the fourth quarter worth about $74,000. 99.53% of the stock is currently owned by institutional investors.

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

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