$1.83 Billion in Sales Expected for Foot Locker, Inc. (NYSE:FL) This Quarter

Wall Street analysts expect Foot Locker, Inc. (NYSE:FL) to announce sales of $1.83 billion for the current fiscal quarter, Zacks Investment Research reports. Eight analysts have provided estimates for Foot Locker’s earnings, with the lowest sales estimate coming in at $1.78 billion and the highest estimate coming in at $1.88 billion. Foot Locker reported sales of $1.78 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 2.8%. The company is expected to report its next quarterly earnings results before the market opens on Friday, August 23rd.

On average, analysts expect that Foot Locker will report full-year sales of $8.18 billion for the current financial year, with estimates ranging from $8.00 billion to $8.33 billion. For the next fiscal year, analysts anticipate that the company will report sales of $8.42 billion, with estimates ranging from $7.95 billion to $8.61 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that follow Foot Locker.

Foot Locker (NYSE:FL) last posted its quarterly earnings data on Friday, May 24th. The athletic footwear retailer reported $1.53 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.61 by ($0.08). Foot Locker had a return on equity of 21.75% and a net margin of 6.86%. The business had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.11 billion. During the same period last year, the business posted $1.45 earnings per share. The business’s revenue was up 2.6% on a year-over-year basis.

A number of analysts recently commented on FL shares. Canaccord Genuity decreased their target price on Foot Locker from $82.00 to $81.00 and set a “buy” rating for the company in a research report on Friday, May 24th. Guggenheim reaffirmed a “buy” rating and issued a $60.00 target price on shares of Foot Locker in a research report on Friday, May 24th. TheStreet lowered Foot Locker from a “b-” rating to a “c+” rating in a research report on Monday, June 17th. B. Riley decreased their target price on Foot Locker from $73.00 to $62.00 and set a “buy” rating for the company in a research report on Monday. Finally, Deutsche Bank decreased their target price on Foot Locker from $68.00 to $63.00 and set a “buy” rating for the company in a research report on Monday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and fourteen have issued a buy rating to the company. Foot Locker has an average rating of “Buy” and a consensus price target of $66.44.

Shares of Foot Locker stock opened at $39.76 on Monday. Foot Locker has a one year low of $36.81 and a one year high of $68.00. The firm has a market capitalization of $4.34 billion, a price-to-earnings ratio of 8.44, a PEG ratio of 0.80 and a beta of 0.98. The business has a 50-day simple moving average of $40.98 and a 200 day simple moving average of $51.18. The company has a debt-to-equity ratio of 1.12, a current ratio of 2.01 and a quick ratio of 1.07.

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 18th will be paid a $0.38 dividend. The ex-dividend date is Thursday, October 17th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.82%. Foot Locker’s payout ratio is presently 32.27%.

In other news, Director Matthew M. Mckenna sold 7,000 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $40.53, for a total value of $283,710.00. Following the transaction, the director now owns 26,862 shares in the company, valued at approximately $1,088,716.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.40% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Bremer Bank National Association purchased a new position in shares of Foot Locker in the 1st quarter worth approximately $26,000. CWM LLC lifted its stake in Foot Locker by 264.1% in the first quarter. CWM LLC now owns 477 shares of the athletic footwear retailer’s stock valued at $29,000 after purchasing an additional 346 shares during the last quarter. Investors Research Corp purchased a new position in Foot Locker in the first quarter valued at approximately $30,000. Psagot Investment House Ltd. purchased a new stake in shares of Foot Locker during the second quarter worth $30,000. Finally, Mckinley Capital Management LLC Delaware purchased a new stake in shares of Foot Locker during the first quarter worth $33,000. Hedge funds and other institutional investors own 99.61% of the company’s stock.

Foot Locker Company Profile

Foot Locker, Inc, through its subsidiaries, operates as an athletic shoes and apparel retailer. The company operates in two segments, Athletic Stores and Direct-to-Customers. The Athletic Stores segment retails athletic footwear, apparel, accessories, and equipment under various formats, including Foot Locker, Kids Foot Locker, Lady Foot Locker, Champs Sports, Footaction, Runners Point, Sidestep, and SIX:02.

Further Reading: Return on Equity (ROE)

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Earnings History and Estimates for Foot Locker (NYSE:FL)

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