Foot Locker Price Target Cut to $39.00 by Analysts at Deutsche Bank (FL)
Equities researchers at Deutsche Bank dropped their target price on shares of Foot Locker (NYSE: FL) from $40.00 to $39.00 in a report issued on Monday. The firm currently has a “buy” rating on the stock.
Shares of Foot Locker traded down 1.49% during mid-day trading on Monday, hitting $32.30. Foot Locker has a 52 week low of $27.86 and a 52 week high of $37.65. The stock’s 50-day moving average is currently $34.15. The company has a market cap of $4.948 billion and a P/E ratio of 12.72.
Foot Locker last announced its earnings results on Friday, March 8th. The company reported $0.73 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.73. The company had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.69 billion. During the same quarter last year, the company posted $0.55 earnings per share. Foot Locker’s revenue was up 14.0% compared to the same quarter last year. On average, analysts predict that Foot Locker will post $2.83 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Canaccord Genuity cut their price target on shares of Foot Locker from $42.00 to $40.00 in a research note to investors on Monday. They now have a “buy” rating on the stock. Separately, analysts at UBS AG cut their price target on shares of Foot Locker from $41.00 to $39.00 in a research note to investors on Monday. They now have a “buy” rating on the stock. Finally, analysts at RBC Capital cut their price target on shares of Foot Locker from $41.00 to $39.00 in a research note to investors on Monday. They now have an “outperform” rating on the stock.
Eleven investment analysts have rated the stock with a buy rating, one has given an overweight rating, and two have given a hold rating to the company’s stock. The stock has a consensus rating of “buy” and an average price target of $41.31.
The company also recently announced a quarterly dividend, which is scheduled for Friday, May 3rd. Shareholders of record on Friday, April 19th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.44%. The ex-dividend date is Wednesday, April 17th. This is a positive change from Foot Locker’s previous quarterly dividend of $0.18.
Foot Locker, Inc. is a global retailer of athletic shoes and apparel, operating 3,369 primarily mall-based stores in the United States, Canada, Europe, Australia, and New Zealand as of January 28, 2012.
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