Foot Locker, Inc. Expected to Earn Q1 2023 Earnings of $1.64 Per Share (NYSE:FL)

Foot Locker, Inc. (NYSE:FL – Get Rating) – Equities research analysts at Seaport Res Ptn lifted their Q1 2023 EPS estimates for Foot Locker in a research note issued to investors on Wednesday, May 18th. Seaport Res Ptn analyst M. Kummetz now forecasts that the athletic footwear retailer will post earnings of $1.64 per share for the quarter, up from their prior estimate of $1.10. Seaport Res Ptn has a “Neutral” rating on the stock. Seaport Res Ptn also issued estimates for Foot Locker’s Q2 2023 earnings at $1.15 EPS.

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

Several other brokerages have also weighed in on FL. Robert W. Baird reduced their price objective on Foot Locker from $56.00 to $30.00 in a report on Tuesday, March 1st. The Goldman Sachs Group lowered Foot Locker from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $63.00 to $35.00 in a report on Monday, February 28th. Zacks Investment Research raised Foot Locker from a “sell” rating to a “hold” rating and set a $32.00 price objective for the company in a report on Tuesday. TheStreet lowered Foot Locker from a “b-” rating to a “c+” rating in a report on Monday, March 14th. Finally, Argus lowered Foot Locker from a “buy” rating to a “hold” rating in a report on Wednesday, March 9th. Five equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $43.00.

FL stock opened at $30.30 on Friday. The business has a 50 day moving average of $30.05 and a 200-day moving average of $39.10. Foot Locker has a 12-month low of $26.36 and a 12-month high of $64.80. The firm has a market cap of $2.91 billion, a PE ratio of 3.54, a P/E/G ratio of 0.22 and a beta of 1.28. The company has a quick ratio of 0.63, a current ratio of 1.36 and a debt-to-equity ratio of 0.14.

Several hedge funds and other institutional investors have recently bought and sold shares of FL. Amundi Pioneer Asset Management Inc. lifted its holdings in shares of Foot Locker by 192.6% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 152,402 shares of the athletic footwear retailer’s stock valued at $9,235,000 after purchasing an additional 100,318 shares during the last quarter. Morgan Stanley lifted its holdings in shares of Foot Locker by 40.3% during the second quarter. Morgan Stanley now owns 430,796 shares of the athletic footwear retailer’s stock valued at $26,550,000 after purchasing an additional 123,781 shares during the last quarter. Advisor Group Holdings Inc. lifted its holdings in shares of Foot Locker by 9.3% during the third quarter. Advisor Group Holdings Inc. now owns 10,401 shares of the athletic footwear retailer’s stock valued at $475,000 after purchasing an additional 883 shares during the last quarter. Teacher Retirement System of Texas lifted its holdings in shares of Foot Locker by 21.8% during the third quarter. Teacher Retirement System of Texas now owns 14,857 shares of the athletic footwear retailer’s stock valued at $678,000 after purchasing an additional 2,659 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ purchased a new position in shares of Foot Locker during the third quarter valued at approximately $142,000. 83.43% of the stock is currently owned by institutional investors.

In other news, VP John A. Maurer sold 3,650 shares of the firm’s stock in a transaction dated Wednesday, March 16th. The stock was sold at an average price of $31.00, for a total transaction of $113,150.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 3.00% of the company’s stock.

The company also recently declared a quarterly dividend, which will be paid on Friday, July 29th. Shareholders of record on Friday, July 15th will be given a dividend of $0.40 per share. The ex-dividend date is Thursday, July 14th. This represents a $1.60 dividend on an annualized basis and a yield of 5.28%. Foot Locker’s payout ratio is 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.

Further Reading