Foot Locker, Inc. (NYSE:FL) – Research analysts at Wedbush cut their Q2 2018 earnings estimates for Foot Locker in a note issued to investors on Monday. Wedbush analyst C. Svezia now forecasts that the textile maker will post earnings of $0.91 per share for the quarter, down from their prior estimate of $1.06. Wedbush currently has a “Outperform” rating and a $72.00 price objective on the stock. Wedbush also issued estimates for Foot Locker’s Q3 2018 earnings at $1.25 EPS, Q4 2018 earnings at $1.64 EPS, FY2018 earnings at $5.15 EPS and FY2019 earnings at $5.50 EPS.
Foot Locker (NYSE:FL) last released its quarterly earnings data on Friday, May 19th. The textile maker reported $1.36 EPS for the quarter, missing the consensus estimate of $1.38 by $0.02. Foot Locker had a net margin of 8.26% and a return on equity of 24.22%. The business had revenue of $2 billion for the quarter, compared to analysts’ expectations of $2.02 billion. During the same period last year, the business earned $1.39 earnings per share. The company’s quarterly revenue was up .7% on a year-over-year basis.
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Other research analysts have also recently issued research reports about the stock. Brean Capital reiterated a “buy” rating and issued a $78.00 price target (up previously from $77.00) on shares of Foot Locker in a report on Wednesday, February 22nd. Deutsche Bank AG reissued a “buy” rating and issued a $81.00 price objective (up previously from $76.00) on shares of Foot Locker in a research report on Wednesday, February 22nd. Canaccord Genuity boosted their price objective on shares of Foot Locker from $83.00 to $87.00 and gave the stock a “buy” rating in a research report on Wednesday, February 22nd. B. Riley reaffirmed a “buy” rating and set a $79.00 price target on shares of Foot Locker in a research report on Tuesday, February 21st. Finally, Jefferies Group LLC set a $90.00 price target on shares of Foot Locker and gave the stock a “buy” rating in a research report on Friday, February 24th. Six analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $76.06.
Foot Locker (NYSE:FL) traded up 1.11% during midday trading on Tuesday, hitting $60.29. The company had a trading volume of 1,018,615 shares. The stock has a market capitalization of $7.99 billion, a PE ratio of 12.37 and a beta of 0.57. Foot Locker has a 52 week low of $50.90 and a 52 week high of $79.43. The stock has a 50 day moving average price of $72.82 and a 200-day moving average price of $72.67.
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 28th. Investors of record on Friday, July 14th will be given a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 2.08%. The ex-dividend date is Wednesday, July 12th. Foot Locker’s payout ratio is currently 23.71%.
In other Foot Locker news, Director Cheryl N. Turpin sold 2,000 shares of the firm’s stock in a transaction on Thursday, March 2nd. The stock was sold at an average price of $76.17, for a total transaction of $152,340.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Paulette Alviti sold 8,000 shares of the firm’s stock in a transaction on Thursday, April 20th. The shares were sold at an average price of $74.50, for a total value of $596,000.00. Following the transaction, the senior vice president now owns 36,641 shares in the company, valued at $2,729,754.50. The disclosure for this sale can be found here. In the last three months, insiders sold 35,000 shares of company stock valued at $2,686,090. 2.92% of the stock is currently owned by insiders.
Several large investors have recently added to or reduced their stakes in the company. YorkBridge Wealth Partners LLC boosted its stake in Foot Locker by 18.6% in the first quarter. YorkBridge Wealth Partners LLC now owns 1,360 shares of the textile maker’s stock worth $104,000 after buying an additional 213 shares during the last quarter. Acrospire Investment Management LLC boosted its stake in Foot Locker by 50.0% in the first quarter. Acrospire Investment Management LLC now owns 1,500 shares of the textile maker’s stock worth $112,000 after buying an additional 500 shares during the last quarter. Van ECK Associates Corp boosted its stake in Foot Locker by 7.3% in the fourth quarter. Van ECK Associates Corp now owns 1,938 shares of the textile maker’s stock worth $137,000 after buying an additional 132 shares during the last quarter. Pacer Advisors Inc. boosted its stake in Foot Locker by 3.5% in the first quarter. Pacer Advisors Inc. now owns 2,630 shares of the textile maker’s stock worth $197,000 after buying an additional 88 shares during the last quarter. Finally, Tocqueville Asset Management L.P. acquired a new stake in Foot Locker during the first quarter worth approximately $204,000. Institutional investors own 95.30% of the company’s stock.
Foot Locker Company Profile
Foot Locker, Inc is a retailer of shoes and apparel. The Company operates through two segments: Athletic Stores and Direct-to-Customers. The Company is an athletic footwear and apparel retailer, which include businesses, such as include Foot Locker, Kids Foot Locker, Lady Foot Locker, Champs Sports, Footaction, Runners Point, Sidestep and SIX:02.
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