Foot Locker (NYSE:FL) Issues FY 2022 Earnings Guidance

Foot Locker (NYSE:FLGet Rating) issued an update on its FY 2022 earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of $4.60-$4.60 for the period, compared to the consensus estimate of $4.41. The company issued revenue guidance of $8.60 billion-$8.60 billion, compared to the consensus revenue estimate of $8.44 billion.

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

Foot Locker (NYSE:FLGet Rating) last issued its quarterly earnings data 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 firm had revenue of $2.34 billion for the quarter, compared to analyst estimates of $2.34 billion. Foot Locker had a net margin of 9.97% and a return on equity of 25.11%. Foot Locker’s revenue was up 6.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.55 EPS. Equities research analysts forecast that Foot Locker will post 4.44 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 29th. Investors of record on Friday, July 15th will be issued a $0.40 dividend. The ex-dividend date is Thursday, July 14th. This represents a $1.60 annualized dividend and a yield of 5.28%. Foot Locker’s dividend payout ratio (DPR) is currently 18.69%.

Several research firms have weighed in on FL. Barclays downgraded Foot Locker from an overweight rating to an underweight rating and dropped their target price for the company from $58.00 to $24.00 in a research report on Tuesday, March 1st. B. Riley downgraded Foot Locker from a buy rating to a neutral rating and set a $34.00 target price for the company. in a research report on Tuesday, March 1st. OTR Global downgraded Foot Locker to a positive rating in a research report on Monday. Zacks Investment Research raised Foot Locker from a sell rating to a hold rating and set a $32.00 target price for the company in a research report on Tuesday. Finally, Citigroup downgraded Foot Locker from a buy rating to a sell rating and dropped their target price for the company from $73.00 to $25.00 in a research report on Monday, February 28th. Five research analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of Hold and a consensus target price of $43.00.

In other news, VP John A. Maurer sold 3,650 shares of the company’s stock in a transaction that occurred on Wednesday, March 16th. The stock was sold at an average price of $31.00, for a total transaction of $113,150.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.00% of the stock is currently owned by insiders.

Large investors have recently added to or reduced their stakes in the business. Advisors Asset Management Inc. raised its position in Foot Locker by 124.9% in the fourth quarter. Advisors Asset Management Inc. now owns 794 shares of the athletic footwear retailer’s stock worth $35,000 after acquiring an additional 441 shares in the last quarter. Neo Ivy Capital Management acquired a new stake in Foot Locker in the fourth quarter valued at $54,000. Canada Pension Plan Investment Board grew its holdings in Foot Locker by 659.5% in the first quarter. Canada Pension Plan Investment Board now owns 3,600 shares of the athletic footwear retailer’s stock valued at $107,000 after purchasing an additional 3,126 shares during the last quarter. Covestor Ltd grew its holdings in Foot Locker by 184.8% in the first quarter. Covestor Ltd now owns 3,976 shares of the athletic footwear retailer’s stock valued at $118,000 after purchasing an additional 2,580 shares during the last quarter. Finally, Captrust Financial Advisors grew its holdings in Foot Locker by 316.0% in the first quarter. Captrust Financial Advisors now owns 5,524 shares of the athletic footwear retailer’s stock valued at $164,000 after purchasing an additional 4,196 shares during the last quarter. Hedge funds and other institutional investors 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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Earnings History and Estimates for Foot Locker (NYSE:FL)

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