Q1 2023 EPS Estimates for Foot Locker, Inc. (NYSE:FL) Increased by B. Riley

Foot Locker, Inc. (NYSE:FLGet Rating) – Stock analysts at B. Riley lifted their Q1 2023 earnings per share (EPS) estimates for shares of Foot Locker in a research note issued on Tuesday, May 17th. B. Riley analyst S. Anderson now expects that the athletic footwear retailer will post earnings per share of $1.50 for the quarter, up from their previous forecast of $1.36. B. Riley currently has a “Neutral” rating and a $34.00 price objective on the stock.

A number of other analysts have also recently commented on FL. Seaport Res Ptn cut shares of Foot Locker from a “buy” rating to a “neutral” rating in a report on Sunday, February 27th. Cowen cut shares of Foot Locker from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $42.00 to $34.00 in a report on Monday, March 28th. Barclays cut shares of Foot Locker from an “overweight” rating to an “underweight” rating and reduced their target price for the company from $58.00 to $24.00 in a report on Tuesday, March 1st. William Blair raised shares of Foot Locker from a “sell” rating to a “hold” rating in a report on Saturday, February 26th. Finally, Telsey Advisory Group dropped their price target on shares of Foot Locker from $48.00 to $31.00 and set a “market perform” rating for the company in a research report on Monday, February 28th. Five research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $43.00.

FL opened at $30.30 on Friday. The company has a quick ratio of 0.63, a current ratio of 1.36 and a debt-to-equity ratio of 0.14. The firm has a 50 day moving average price of $30.05 and a 200-day moving average price of $39.10. Foot Locker has a twelve month low of $26.36 and a twelve month high of $64.80. The stock has a market capitalization of $2.91 billion, a price-to-earnings ratio of 3.54, a PEG ratio of 0.22 and a beta of 1.28.

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

A number of hedge funds have recently added to or reduced their stakes in FL. Amundi Pioneer Asset Management Inc. lifted its position in 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 raised its stake in shares of Foot Locker by 40.3% in the second quarter. Morgan Stanley now owns 430,796 shares of the athletic footwear retailer’s stock valued at $26,550,000 after acquiring an additional 123,781 shares during the period. Advisor Group Holdings Inc. raised its stake in shares of Foot Locker by 9.3% in the third quarter. Advisor Group Holdings Inc. now owns 10,401 shares of the athletic footwear retailer’s stock valued at $475,000 after acquiring an additional 883 shares during the period. Teacher Retirement System of Texas raised its stake in shares of Foot Locker by 21.8% in 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 acquiring an additional 2,659 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ purchased a new stake in shares of Foot Locker in the third quarter valued at $142,000. Institutional investors and hedge funds own 83.43% of the company’s stock.

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

The business also recently announced a quarterly dividend, which will be paid on Friday, July 29th. Investors of record on Friday, July 15th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, July 14th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 5.28%. Foot Locker’s dividend payout ratio is 18.69%.

About Foot Locker (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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