Zacks: Analysts Expect Foot Locker, Inc. (NYSE:FL) Will Announce Quarterly Sales of $2.20 Billion

Brokerages predict that Foot Locker, Inc. (NYSE:FLGet Rating) will report $2.20 billion in sales for the current fiscal quarter, Zacks reports. 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 reported sales of $2.15 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 2.3%. The firm is scheduled to announce its next earnings report before the market opens on Monday, January 1st.

According to Zacks, analysts expect that Foot Locker will report full-year sales of $8.49 billion for the current financial year, with estimates ranging from $8.40 billion to $8.54 billion. For the next year, analysts forecast that the company will report sales of $8.33 billion, with estimates ranging from $7.90 billion to $8.97 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that that provide coverage for Foot Locker.

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

A number of equities research analysts have recently commented on the company. Citigroup cut Foot Locker from a “buy” rating to a “sell” rating and lowered their target price for the stock from $73.00 to $25.00 in a research note on Monday, February 28th. Cowen cut Foot Locker from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $42.00 to $34.00 in a research report on Monday, March 28th. B. Riley lowered Foot Locker from a “buy” rating to a “neutral” rating and set a $34.00 price objective for the company. in a report on Tuesday, March 1st. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Foot Locker from $51.00 to $32.00 and set a “hold” rating on the stock in a research note on Monday, February 28th. Finally, Seaport Res Ptn lowered shares of Foot Locker from a “buy” rating to a “neutral” rating in a report on Sunday, February 27th. Six analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $42.83.

FL opened at $29.49 on Monday. 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 company has a market capitalization of $2.83 billion, a price-to-earnings ratio of 3.45, a P/E/G ratio of 0.21 and a beta of 1.28. The firm’s fifty day moving average price is $30.16 and its two-hundred day moving average price is $40.03. Foot Locker has a 1 year low of $26.36 and a 1 year high of $66.71.

The company also recently declared a quarterly dividend, which was paid on Friday, April 29th. Investors of record on Thursday, April 14th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 5.43%. The ex-dividend date of this dividend was Wednesday, April 13th. This is a positive change from Foot Locker’s previous quarterly dividend of $0.30. Foot Locker’s dividend payout ratio (DPR) is currently 18.69%.

In other Foot Locker news, VP John A. Maurer sold 3,650 shares of Foot Locker stock in a transaction dated Wednesday, March 16th. The shares were sold at an average price of $31.00, for a total transaction of $113,150.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 3.00% of the stock is owned by company insiders.

Several institutional investors have recently modified their holdings of the company. Oakworth Capital Inc. purchased a new position in Foot Locker during the 4th quarter worth $27,000. Advisors Asset Management Inc. grew its stake in Foot Locker by 124.9% in the 4th quarter. Advisors Asset Management Inc. now owns 794 shares of the athletic footwear retailer’s stock valued at $35,000 after acquiring an additional 441 shares during the last quarter. Neo Ivy Capital Management acquired a new stake in shares of Foot Locker during the 4th quarter worth about $54,000. Covestor Ltd acquired a new stake in shares of Foot Locker in the fourth quarter worth approximately $61,000. Finally, Signaturefd LLC raised its holdings in Foot Locker by 123.3% in the first quarter. Signaturefd LLC now owns 2,226 shares of the athletic footwear retailer’s stock valued at $66,000 after buying an additional 1,229 shares during the period. Institutional investors and hedge funds own 83.43% of the company’s stock.

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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