Wedbush Analysts Increase Earnings Estimates for Foot Locker, Inc. (NYSE:FL)

Foot Locker, Inc. (NYSE:FLGet Rating) – Equities researchers at Wedbush lifted their FY2024 earnings estimates for Foot Locker in a research report issued on Tuesday, September 20th. Wedbush analyst T. Nikic now expects that the athletic footwear retailer will post earnings of $4.14 per share for the year, up from their prior estimate of $4.12. The consensus estimate for Foot Locker’s current full-year earnings is $4.38 per share.

Foot Locker (NYSE:FLGet Rating) last released its earnings results on Friday, August 19th. The athletic footwear retailer reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.35. The business had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $2.07 billion. Foot Locker had a net margin of 5.56% and a return on equity of 19.33%. The company’s quarterly revenue was down 9.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.21 earnings per share.

Several other brokerages also recently weighed in on FL. Cowen upped their target price on shares of Foot Locker from $29.00 to $35.00 and gave the stock a “market perform” rating in a research note on Monday, August 22nd. Credit Suisse Group upped their target price on shares of Foot Locker from $31.00 to $40.00 and gave the company a “neutral” rating in a report on Tuesday, August 23rd. StockNews.com cut shares of Foot Locker from a “hold” rating to a “sell” rating in a report on Thursday, September 1st. Williams Trading upgraded shares of Foot Locker from a “sell” rating to a “hold” rating in a research note on Monday, August 22nd. Finally, Barclays upgraded shares of Foot Locker from an “underweight” rating to an “equal weight” rating in a research note on Monday, August 22nd. Two investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Foot Locker has an average rating of “Hold” and an average target price of $41.70.

Foot Locker Stock Performance

NYSE:FL opened at $35.99 on Friday. The company’s 50-day moving average is $33.05 and its two-hundred day moving average is $30.80. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.46 and a quick ratio of 0.42. Foot Locker has a 1-year low of $23.85 and a 1-year high of $57.76. The firm has a market capitalization of $3.36 billion, a price-to-earnings ratio of 7.34, a PEG ratio of 0.27 and a beta of 1.23.

Foot Locker Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 28th. Shareholders of record on Friday, October 14th will be paid a dividend of $0.40 per share. The ex-dividend date is Thursday, October 13th. This represents a $1.60 annualized dividend and a yield of 4.45%. Foot Locker’s payout ratio is 32.65%.

Institutional Trading of Foot Locker

Several institutional investors have recently added to or reduced their stakes in the business. Rhumbline Advisers boosted its holdings in shares of Foot Locker by 1.4% during the fourth quarter. Rhumbline Advisers now owns 244,435 shares of the athletic footwear retailer’s stock valued at $10,665,000 after acquiring an additional 3,266 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Foot Locker by 1.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 838,088 shares of the athletic footwear retailer’s stock valued at $36,566,000 after acquiring an additional 11,498 shares during the period. Schroder Investment Management Group boosted its holdings in shares of Foot Locker by 434.6% during the fourth quarter. Schroder Investment Management Group now owns 140,753 shares of the athletic footwear retailer’s stock valued at $6,141,000 after acquiring an additional 114,423 shares during the period. Rockefeller Capital Management L.P. boosted its holdings in shares of Foot Locker by 0.6% during the fourth quarter. Rockefeller Capital Management L.P. now owns 38,604 shares of the athletic footwear retailer’s stock valued at $1,683,000 after acquiring an additional 242 shares during the period. Finally, Mutual Advisors LLC boosted its holdings in shares of Foot Locker by 73.1% during the fourth quarter. Mutual Advisors LLC now owns 23,200 shares of the athletic footwear retailer’s stock valued at $1,012,000 after acquiring an additional 9,800 shares during the period. Institutional investors own 98.06% of the company’s stock.

About Foot Locker

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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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