Q3 2020 EPS Estimates for Foot Locker, Inc. Increased by Analyst (NYSE:FL)

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Foot Locker, Inc. (NYSE:FL) – Equities researchers at Wedbush upped their Q3 2020 earnings per share (EPS) estimates for Foot Locker in a note issued to investors on Tuesday, August 13th. Wedbush analyst C. Svezia now forecasts that the athletic footwear retailer will post earnings of $1.10 per share for the quarter, up from their previous estimate of $1.09.

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

A number of other brokerages have also issued reports on FL. B. Riley upgraded shares of Foot Locker from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $62.00 to $73.00 in a research note on Friday, May 17th. Deutsche Bank lowered their target price on shares of Foot Locker from $82.00 to $68.00 and set a “buy” rating on the stock in a research report on Tuesday, May 28th. Canaccord Genuity lowered their target price on shares of Foot Locker from $82.00 to $81.00 and set a “buy” rating on the stock in a research report on Friday, May 24th. Pivotal Research restated a “buy” rating and set a $60.00 target price on shares of Foot Locker in a research report on Tuesday, May 28th. Finally, ValuEngine lowered shares of Foot Locker from a “hold” rating to a “sell” rating in a research report on Friday, May 24th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and fifteen have issued a buy rating to the company’s stock. Foot Locker has an average rating of “Buy” and an average price target of $67.72.

Shares of Foot Locker stock opened at $37.02 on Wednesday. Foot Locker has a 52-week low of $36.81 and a 52-week high of $68.00. 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 company’s 50-day simple moving average is $41.28 and its 200-day simple moving average is $51.59. The firm has a market cap of $4.30 billion, a price-to-earnings ratio of 7.86, a price-to-earnings-growth ratio of 0.79 and a beta of 0.98.

Several hedge funds have recently added to or reduced their stakes in FL. Voleon Capital Management LP purchased a new position in Foot Locker during the second quarter worth approximately $3,773,000. Schroder Investment Management Group raised its stake in Foot Locker by 90.5% during the second quarter. Schroder Investment Management Group now owns 166,495 shares of the athletic footwear retailer’s stock worth $6,980,000 after purchasing an additional 79,085 shares during the period. Nuveen Asset Management LLC raised its stake in Foot Locker by 79.4% during the second quarter. Nuveen Asset Management LLC now owns 868,395 shares of the athletic footwear retailer’s stock worth $36,402,000 after purchasing an additional 384,288 shares during the period. Victory Capital Management Inc. raised its stake in Foot Locker by 14.0% during the second quarter. Victory Capital Management Inc. now owns 50,437 shares of the athletic footwear retailer’s stock worth $2,114,000 after purchasing an additional 6,195 shares during the period. Finally, CSat Investment Advisory L.P. raised its stake in Foot Locker by 134.4% during the second quarter. CSat Investment Advisory L.P. now owns 1,662 shares of the athletic footwear retailer’s stock worth $70,000 after purchasing an additional 953 shares during the period. Institutional investors and hedge funds own 99.53% of the company’s stock.

In other news, Director Matthew M. Mckenna sold 7,000 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $40.53, for a total value of $283,710.00. Following the sale, the director now directly owns 26,862 shares in the company, valued at $1,088,716.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.40% of the stock is owned by corporate insiders.

The firm also recently declared a quarterly dividend, which was paid on Friday, August 2nd. Stockholders of record on Friday, July 19th were given a $0.38 dividend. The ex-dividend date of this dividend was Thursday, July 18th. This represents a $1.52 annualized dividend and a dividend yield of 4.11%. Foot Locker’s dividend payout ratio is presently 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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