Foot Locker (FL) Announces Quarterly Earnings Results
Foot Locker (NYSE:FL) released its quarterly earnings data on Friday. The athletic footwear retailer reported $1.26 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.25 by $0.01, Morningstar.com reports. Foot Locker had a return on equity of 19.96% and a net margin of 6.79%. The business had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.23 billion. During the same quarter in the prior year, the firm posted $1.37 EPS. The business’s quarterly revenue was up 4.6% compared to the same quarter last year.
Foot Locker (NYSE FL) opened at $40.04 on Friday. Foot Locker has a 52 week low of $28.42 and a 52 week high of $77.86. The company has a quick ratio of 2.09, a current ratio of 4.41 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $4,850.00, a price-to-earnings ratio of 13.48, a P/E/G ratio of 2.09 and a beta of 0.84.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 4th. Investors of record on Friday, April 20th will be paid a $0.345 dividend. This is an increase from Foot Locker’s previous quarterly dividend of $0.31. This represents a $1.38 annualized dividend and a yield of 3.45%. The ex-dividend date is Thursday, April 19th. Foot Locker’s dividend payout ratio is currently 41.75%.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp raised its stake in Foot Locker by 9.6% in the 4th quarter. Bank of New York Mellon Corp now owns 3,935,081 shares of the athletic footwear retailer’s stock valued at $184,475,000 after purchasing an additional 343,488 shares during the last quarter. Two Sigma Advisers LP raised its stake in Foot Locker by 43.0% in the 4th quarter. Two Sigma Advisers LP now owns 1,767,441 shares of the athletic footwear retailer’s stock valued at $82,858,000 after purchasing an additional 531,710 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Foot Locker by 36.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,329,354 shares of the athletic footwear retailer’s stock valued at $46,817,000 after purchasing an additional 357,669 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in Foot Locker by 7,025.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,132,990 shares of the athletic footwear retailer’s stock valued at $53,115,000 after purchasing an additional 1,117,090 shares during the last quarter. Finally, Guggenheim Capital LLC raised its stake in Foot Locker by 8.6% in the 4th quarter. Guggenheim Capital LLC now owns 1,002,535 shares of the athletic footwear retailer’s stock valued at $47,000,000 after purchasing an additional 79,108 shares during the last quarter. 92.35% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have commented on the company. Pivotal Research assumed coverage on Foot Locker in a research report on Thursday, January 25th. They issued a “buy” rating and a $65.00 price objective on the stock. Wedbush restated an “outperform” rating and issued a $59.00 price objective (up previously from $52.00) on shares of Foot Locker in a research report on Thursday, January 25th. Barclays upped their price objective on Foot Locker from $55.00 to $60.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 30th. Oppenheimer upgraded Foot Locker from a “market perform” rating to an “outperform” rating and set a $70.00 price objective on the stock in a research report on Wednesday, January 31st. Finally, ValuEngine lowered Foot Locker from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $55.39.
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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.
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