Brokerages Expect Foot Locker, Inc. (FL) Will Post Quarterly Sales of $1.98 Billion
Wall Street analysts expect Foot Locker, Inc. (NYSE:FL) to post $1.98 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have made estimates for Foot Locker’s earnings. The highest sales estimate is $2.00 billion and the lowest is $1.92 billion. Foot Locker reported sales of $2.00 billion during the same quarter last year, which indicates a negative year over year growth rate of 1%. The company is scheduled to announce its next quarterly earnings results on Friday, May 18th.
On average, analysts expect that Foot Locker will report full year sales of $1.98 billion for the current financial year, with estimates ranging from $7.54 billion to $7.94 billion. For the next fiscal year, analysts forecast that the company will post sales of $7.92 billion per share, with estimates ranging from $7.75 billion to $8.19 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover Foot Locker.
Foot Locker (NYSE:FL) last announced its earnings results on Friday, March 2nd. The athletic footwear retailer reported $1.26 EPS for the quarter, topping the Zacks’ consensus estimate of $1.25 by $0.01. The firm had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.23 billion. Foot Locker had a return on equity of 19.32% and a net margin of 3.65%. The company’s quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.37 EPS.
In other news, CEO Richard A. Johnson sold 25,000 shares of Foot Locker stock in a transaction on Friday, January 19th. The stock was sold at an average price of $50.05, for a total value of $1,251,250.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Matthew M. Mckenna sold 10,899 shares of Foot Locker stock in a transaction on Tuesday, January 9th. The shares were sold at an average price of $45.82, for a total value of $499,392.18. Following the completion of the transaction, the director now owns 35,000 shares in the company, valued at $1,603,700. The disclosure for this sale can be found here. Insiders sold a total of 69,442 shares of company stock worth $3,338,499 over the last quarter. Company insiders own 2.90% of the company’s stock.
Large investors have recently made changes to their positions in the company. TIAA CREF Investment Management LLC grew its stake in Foot Locker by 0.4% during the 4th quarter. TIAA CREF Investment Management LLC now owns 415,656 shares of the athletic footwear retailer’s stock worth $19,486,000 after buying an additional 1,456 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in Foot Locker by 5.9% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 34,185 shares of the athletic footwear retailer’s stock worth $1,603,000 after buying an additional 1,900 shares during the last quarter. Cibc Bank USA grew its stake in Foot Locker by 17.0% during the 4th quarter. Cibc Bank USA now owns 14,295 shares of the athletic footwear retailer’s stock worth $670,000 after buying an additional 2,080 shares during the last quarter. Swiss National Bank grew its stake in Foot Locker by 0.5% during the 3rd quarter. Swiss National Bank now owns 484,900 shares of the athletic footwear retailer’s stock worth $17,078,000 after buying an additional 2,400 shares during the last quarter. Finally, Clearbridge Investments LLC grew its stake in Foot Locker by 0.3% during the 4th quarter. Clearbridge Investments LLC now owns 968,050 shares of the athletic footwear retailer’s stock worth $45,382,000 after buying an additional 2,547 shares during the last quarter. Institutional investors and hedge funds own 96.49% of the company’s stock.
Shares of Foot Locker (FL) traded up $0.65 during trading on Wednesday, hitting $44.11. The stock had a trading volume of 3,986,124 shares, compared to its average volume of 4,758,165. The stock has a market cap of $5,267.57, a PE ratio of 20.42, a price-to-earnings-growth ratio of 1.52 and a beta of 0.84. The company has a current ratio of 4.14, a quick ratio of 2.07 and a debt-to-equity ratio of 0.05. Foot Locker has a 12-month low of $28.42 and a 12-month high of $77.86.
The business also recently declared a quarterly dividend, which will be paid on Friday, May 4th. Stockholders of record on Friday, April 20th will be issued a $0.345 dividend. The ex-dividend date of this dividend is Thursday, April 19th. This is an increase from Foot Locker’s previous quarterly dividend of $0.31. This represents a $1.38 dividend on an annualized basis and a dividend yield of 3.13%. Foot Locker’s dividend payout ratio (DPR) is currently 57.41%.
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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.
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