Foot Locker (NYSE:FL) Posts Quarterly Earnings Results, Misses Estimates By $0.08 EPS

Foot Locker (NYSE:FL) issued its quarterly earnings results on Thursday. The athletic footwear retailer reported ($0.07) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.08), Briefing.com reports. Foot Locker had a positive return on equity of 2.91% and a negative net margin of 5.24%. During the same period in the previous year, the firm earned $0.22 EPS. The firm’s revenue was down 4.6% on a year-over-year basis.

Foot Locker Price Performance

FL opened at $23.94 on Thursday. The stock’s 50-day moving average price is $14.98 and its 200 day moving average price is $18.63. Foot Locker has a 12-month low of $11.00 and a 12-month high of $33.94. The company has a current ratio of 1.67, a quick ratio of 0.45 and a debt-to-equity ratio of 0.15. The firm has a market cap of $2.28 billion, a price-to-earnings ratio of -5.30, a PEG ratio of 0.53 and a beta of 1.42.

Hedge Funds Weigh In On Foot Locker

Several hedge funds have recently bought and sold shares of the company. Goldman Sachs Group Inc. raised its position in Foot Locker by 4.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,174,832 shares of the athletic footwear retailer’s stock valued at $44,765,000 after purchasing an additional 136,836 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Foot Locker by 14.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 301,304 shares of the athletic footwear retailer’s stock valued at $4,248,000 after purchasing an additional 37,838 shares in the last quarter. Royal Bank of Canada raised its position in Foot Locker by 8.2% in the 1st quarter. Royal Bank of Canada now owns 60,170 shares of the athletic footwear retailer’s stock valued at $848,000 after purchasing an additional 4,574 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Foot Locker by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 49,610 shares of the athletic footwear retailer’s stock valued at $700,000 after purchasing an additional 2,148 shares in the last quarter.

Wall Street Analyst Weigh In

Several analysts recently commented on FL shares. Wall Street Zen cut Foot Locker from a “hold” rating to a “sell” rating in a research report on Friday, April 11th. Citigroup boosted their price target on Foot Locker from $20.00 to $24.00 and gave the stock a “neutral” rating in a research report on Friday, May 16th. Needham & Company LLC set a $24.00 price target on Foot Locker in a research report on Thursday. Morgan Stanley dropped their price target on Foot Locker from $16.00 to $14.00 and set an “underweight” rating for the company in a research report on Tuesday, May 6th. Finally, Piper Sandler dropped their price target on Foot Locker from $19.00 to $12.00 and set a “neutral” rating for the company in a research report on Friday, April 11th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $21.19.

About Foot Locker

Foot Locker, Inc, through its subsidiaries, operates as a footwear and apparel retailer in North America, Europe, Australia, New Zealand, Asia, and the Middle East. Its brand portfolio includes Foot Locker, a brand comprising sneakers and apparel; Kids Foot Locker, which offers athletic footwear, apparel, and accessories for children; and Champs Sports that operates as a mall-based specialty athletic footwear and apparel retailer.