Foot Locker (NYSE:FL – Get Rating) updated its FY 2022 earnings guidance on Friday. The company provided EPS guidance of $4.25-$4.45 for the period, compared to the consensus EPS estimate of $4.42. The company issued revenue guidance of $8.33 billion-$8.42 billion, compared to the consensus revenue estimate of $8.47 billion.
Analyst Ratings Changes
A number of brokerages recently weighed in on FL. Williams Trading raised shares of Foot Locker from a sell rating to a hold rating in a research report on Monday. Barclays raised shares of Foot Locker from an underweight rating to an equal weight rating in a research report on Monday. William Blair raised shares of Foot Locker to a hold rating and set a $29.00 price objective for the company in a research report on Monday. JPMorgan Chase & Co. raised shares of Foot Locker from an underweight rating to a neutral rating and set a $40.00 price objective for the company in a research report on Friday, August 19th. Finally, Telsey Advisory Group upped their price objective on shares of Foot Locker from $31.00 to $42.00 and gave the company a market perform rating in a research report on Monday. Twenty-one analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Foot Locker currently has an average rating of Hold and an average price target of $41.70.
Foot Locker Stock Up 4.0 %
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Foot Locker stock opened at $37.96 on Friday. The company has a market capitalization of $3.59 billion, a P/E ratio of 7.75, a P/E/G ratio of 0.26 and a beta of 1.36. The firm’s fifty day simple moving average is $28.81 and its 200-day simple moving average is $30.96. The company has a current ratio of 1.46, a quick ratio of 0.53 and a debt-to-equity ratio of 0.14. Foot Locker has a 1-year low of $23.85 and a 1-year high of $58.32.
Foot Locker (NYSE:FL – Get Rating) last posted its earnings results on Friday, August 19th. The athletic footwear retailer reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.29. The business had revenue of $2.07 billion for the quarter, compared to analyst estimates of $2.07 billion. Foot Locker had a net margin of 5.56% and a return on equity of 19.33%. Foot Locker’s revenue was down 9.2% compared to the same quarter last year. During the same period last year, the business posted $2.21 EPS. Sell-side analysts forecast that Foot Locker will post 4.38 earnings per share for the current fiscal year.
Foot Locker Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 28th. Stockholders of record on Friday, October 14th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 4.21%. The ex-dividend date is Thursday, October 13th. Foot Locker’s dividend payout ratio is 32.65%.
Institutional Investors Weigh In On Foot Locker
Institutional investors have recently modified their holdings of the business. Advisors Asset Management Inc. grew its holdings in Foot Locker by 68.3% during the first quarter. Advisors Asset Management Inc. now owns 1,336 shares of the athletic footwear retailer’s stock valued at $40,000 after purchasing an additional 542 shares during the period. HighTower Advisors LLC boosted its holdings in shares of Foot Locker by 4.9% in the first quarter. HighTower Advisors LLC now owns 14,934 shares of the athletic footwear retailer’s stock valued at $443,000 after buying an additional 704 shares during the period. Yousif Capital Management LLC lifted its position in shares of Foot Locker by 2.2% in the first quarter. Yousif Capital Management LLC now owns 52,403 shares of the athletic footwear retailer’s stock worth $1,554,000 after purchasing an additional 1,105 shares in the last quarter. LPL Financial LLC lifted its position in shares of Foot Locker by 7.1% in the second quarter. LPL Financial LLC now owns 21,030 shares of the athletic footwear retailer’s stock worth $531,000 after purchasing an additional 1,400 shares in the last quarter. Finally, Sei Investments Co. lifted its position in shares of Foot Locker by 3.5% in the second quarter. Sei Investments Co. now owns 54,788 shares of the athletic footwear retailer’s stock worth $1,270,000 after purchasing an additional 1,846 shares in the last quarter. Institutional investors and hedge funds own 83.43% of the company’s stock.
Foot Locker Company Profile
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.
Further Reading
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