Foot Locker, Inc. (FL) to Issue Quarterly Dividend of $0.31 on October 27th

Foot Locker, Inc. (NYSE:FL) announced a quarterly dividend on Wednesday, August 16th, RTT News reports. Investors of record on Friday, October 13th will be paid a dividend of 0.31 per share by the athletic footwear retailer on Friday, October 27th. This represents a $1.24 dividend on an annualized basis and a yield of 3.69%. The ex-dividend date is Thursday, October 12th.

Foot Locker has increased its dividend payment by an average of 11.3% per year over the last three years and has increased its dividend every year for the last 6 years. Foot Locker has a payout ratio of 31.4% meaning its dividend is sufficiently covered by earnings. Analysts expect Foot Locker to earn $3.80 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 32.6%.

Foot Locker (FL) opened at 33.60 on Wednesday. The stock has a market capitalization of $4.17 billion, a PE ratio of 7.77 and a beta of 0.72. Foot Locker has a 52-week low of $31.56 and a 52-week high of $79.43. The firm has a 50-day moving average of $35.11 and a 200-day moving average of $53.23.

Foot Locker (NYSE:FL) last posted its earnings results on Friday, August 18th. The athletic footwear retailer reported $0.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.28). Foot Locker had a net margin of 7.49% and a return on equity of 21.52%. The firm had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.80 billion. During the same quarter in the previous year, the business posted $0.94 earnings per share. The business’s quarterly revenue was down 4.4% compared to the same quarter last year. On average, equities analysts expect that Foot Locker will post $3.97 EPS for the current year.

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A number of research analysts recently issued reports on FL shares. Jefferies Group LLC set a $80.00 target price on shares of Foot Locker and gave the company a “buy” rating in a research note on Tuesday, June 20th. Deutsche Bank AG set a $72.00 target price on shares of Foot Locker and gave the company a “buy” rating in a research note on Monday, July 17th. Barclays PLC set a $80.00 target price on shares of Foot Locker and gave the company a “buy” rating in a research note on Saturday, August 5th. Buckingham Research reiterated a “buy” rating and issued a $47.00 target price (down from $61.00) on shares of Foot Locker in a research note on Tuesday, August 22nd. Finally, ValuEngine upgraded shares of Foot Locker from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and thirteen have given a buy rating to the company. Foot Locker currently has an average rating of “Hold” and a consensus target price of $64.38.

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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