Foot Locker, Inc. (FL) Plans Quarterly Dividend of $0.31

Foot Locker, Inc. (NYSE:FL) declared a quarterly dividend on Wednesday, November 15th, RTT News reports. Investors of record on Friday, January 19th will be given a dividend of 0.31 per share by the athletic footwear retailer on Friday, February 2nd. This represents a $1.24 annualized dividend and a dividend yield of 3.97%.

Foot Locker has increased its dividend payment by an average of 11.3% per year over the last three years and has raised its dividend every year for the last 6 years. Foot Locker has a payout ratio of 31.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect Foot Locker to earn $3.73 per share next year, which means the company should continue to be able to cover its $1.24 annual dividend with an expected future payout ratio of 33.2%.

Foot Locker (NYSE:FL) traded up $1.20 during midday trading on Thursday, hitting $31.20. The company had a trading volume of 4,970,800 shares, compared to its average volume of 3,295,162. Foot Locker has a fifty-two week low of $28.42 and a fifty-two week high of $79.43. The company has a quick ratio of 2.88, a current ratio of 5.63 and a debt-to-equity ratio of 0.04. The firm has a market cap of $3,870.00, a PE ratio of 6.70, a PEG ratio of 2.09 and a beta of 0.66.

Foot Locker (NYSE:FL) last posted its quarterly earnings results on Friday, August 18th. The athletic footwear retailer reported $0.62 EPS for the quarter, missing the consensus estimate of $0.90 by ($0.28). The firm had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.80 billion. Foot Locker had a net margin of 7.49% and a return on equity of 21.52%. The company’s revenue was down 4.4% on a year-over-year basis. During the same period last year, the company earned $0.94 EPS. sell-side analysts predict that Foot Locker will post 3.94 earnings per share for the current fiscal year.

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A number of equities research analysts recently commented on the company. Morgan Stanley upgraded Foot Locker from an “equal weight” rating to an “overweight” rating and decreased their price target for the stock from $70.00 to $65.00 in a research report on Tuesday, August 8th. Credit Suisse Group restated a “neutral” rating and set a $52.00 price target (down from $66.00) on shares of Foot Locker in a research report on Tuesday, August 1st. ValuEngine upgraded Foot Locker from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Jefferies Group LLC set a $61.00 price objective on Foot Locker and gave the company a “buy” rating in a research report on Saturday, August 19th. Finally, Telsey Advisory Group lowered Foot Locker from an “outperform” rating to a “market perform” rating and set a $60.00 price objective on the stock. in a research report on Friday, August 18th. Two research analysts have rated the stock with a sell rating, sixteen have given a hold rating and eleven have assigned a buy rating to the stock. Foot Locker has an average rating of “Hold” and a consensus target price of $58.80.

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.

Dividend History for Foot Locker (NYSE:FL)

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