Brokers Offer Predictions for Foot Locker, Inc.’s FY2018 Earnings (FL)

Foot Locker, Inc. (NYSE:FL) – Research analysts at Jefferies Group increased their FY2018 EPS estimates for shares of Foot Locker in a research note issued on Tuesday. Jefferies Group analyst R. Konik now anticipates that the athletic footwear retailer will earn $4.07 per share for the year, up from their previous estimate of $3.95. Jefferies Group currently has a “Buy” rating and a $61.00 target price on the stock. Jefferies Group also issued estimates for Foot Locker’s Q4 2018 earnings at $1.23 EPS.

Foot Locker (NYSE:FL) last released its earnings results on Friday, November 17th. The athletic footwear retailer reported $0.87 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.80 by $0.07. Foot Locker had a net margin of 6.79% and a return on equity of 19.96%. The company had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.82 billion. During the same quarter last year, the business earned $1.13 EPS. The business’s revenue was down .8% on a year-over-year basis.

Other equities analysts have also recently issued research reports about the stock. Deutsche Bank upgraded shares of Foot Locker from a “hold” rating to a “buy” rating and lifted their target price for the stock from $38.00 to $45.00 in a research report on Friday, November 17th. ValuEngine downgraded shares of Foot Locker from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Morgan Stanley reiterated an “overweight” rating and set a $50.00 price target (down from $65.00) on shares of Foot Locker in a report on Tuesday, August 29th. Piper Jaffray Companies set a $35.00 price target on shares of Foot Locker and gave the stock a “hold” rating in a report on Tuesday, November 14th. Finally, Buckingham Research downgraded shares of Foot Locker from a “buy” rating to a “neutral” rating in a report on Monday, October 23rd. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eleven have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $52.27.

Shares of Foot Locker (NYSE FL) traded up $0.78 during midday trading on Wednesday, hitting $45.35. 3,756,600 shares of the company traded hands, compared to its average volume of 3,586,856. The company has a debt-to-equity ratio of 0.05, a current ratio of 4.41 and a quick ratio of 2.09. Foot Locker has a 12-month low of $28.42 and a 12-month high of $77.86. The firm has a market capitalization of $5,500.00, a PE ratio of 10.56, a price-to-earnings-growth ratio of 2.18 and a beta of 0.84.

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 2nd. Shareholders of record on Friday, January 19th will be paid a dividend of $0.31 per share. The ex-dividend date of this dividend is Thursday, January 18th. This represents a $1.24 annualized dividend and a yield of 2.73%. Foot Locker’s payout ratio is 31.23%.

A number of hedge funds have recently added to or reduced their stakes in FL. Alps Advisors Inc. grew its position in Foot Locker by 0.3% in the 2nd quarter. Alps Advisors Inc. now owns 6,312 shares of the athletic footwear retailer’s stock valued at $311,000 after buying an additional 17 shares in the last quarter. Thrivent Financial For Lutherans grew its position in Foot Locker by 2.5% in the 2nd quarter. Thrivent Financial For Lutherans now owns 5,010 shares of the athletic footwear retailer’s stock valued at $247,000 after buying an additional 120 shares in the last quarter. Empirical Finance LLC grew its position in Foot Locker by 0.7% in the 2nd quarter. Empirical Finance LLC now owns 31,054 shares of the athletic footwear retailer’s stock valued at $1,531,000 after buying an additional 205 shares in the last quarter. Formidable Asset Management LLC grew its position in Foot Locker by 2.8% in the 2nd quarter. Formidable Asset Management LLC now owns 12,446 shares of the athletic footwear retailer’s stock valued at $613,000 after buying an additional 336 shares in the last quarter. Finally, Ffcm LLC grew its position in Foot Locker by 9.3% in the 2nd quarter. Ffcm LLC now owns 4,072 shares of the athletic footwear retailer’s stock valued at $201,000 after buying an additional 348 shares in the last quarter. Hedge funds and other institutional investors own 88.08% of the company’s stock.

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About Foot Locker

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.

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

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