Zacks: Analysts Anticipate Foot Locker, Inc. (NYSE:FL) Will Announce Quarterly Sales of $1.97 Billion

Equities analysts expect that Foot Locker, Inc. (NYSE:FL) will post $1.97 billion in sales for the current quarter, Zacks reports. Seven analysts have made estimates for Foot Locker’s earnings. The highest sales estimate is $2.09 billion and the lowest is $1.79 billion. Foot Locker reported sales of $2.08 billion during the same quarter last year, which indicates a negative year-over-year growth rate of 5.3%. The firm is expected to issue its next earnings report on Friday, August 20th.

According to Zacks, analysts expect that Foot Locker will report full year sales of $8.40 billion for the current year, with estimates ranging from $7.80 billion to $8.73 billion. For the next fiscal year, analysts expect that the company will post sales of $8.53 billion, with estimates ranging from $8.02 billion to $8.86 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Foot Locker.

Foot Locker (NYSE:FL) last announced its quarterly earnings data on Thursday, May 20th. The athletic footwear retailer reported $1.96 EPS for the quarter, beating the Zacks’ consensus estimate of $1.06 by $0.90. Foot Locker had a net margin of 7.45% and a return on equity of 21.23%. The firm had revenue of $2.15 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same period in the previous year, the firm posted ($0.67) earnings per share. The firm’s revenue was up 83.1% on a year-over-year basis.

A number of brokerages recently commented on FL. TheStreet raised shares of Foot Locker from a “c+” rating to a “b” rating in a research report on Friday, February 26th. Argus boosted their target price on shares of Foot Locker from $58.00 to $71.00 and gave the stock a “buy” rating in a research report on Friday, May 28th. Pivotal Research boosted their target price on shares of Foot Locker from $76.00 to $82.00 and gave the stock a “buy” rating in a research report on Monday, May 24th. B. Riley boosted their target price on shares of Foot Locker from $68.00 to $73.00 and gave the stock a “buy” rating in a research report on Wednesday, May 19th. Finally, Barclays boosted their target price on shares of Foot Locker from $44.00 to $52.00 and gave the stock an “overweight” rating in a research report on Monday, March 1st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and sixteen have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $57.09.

In related news, major shareholder Vesa Equity Investment S.A R.L sold 8,561 shares of the stock in a transaction that occurred on Wednesday, June 2nd. The shares were sold at an average price of $63.66, for a total value of $544,993.26. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP John A. Maurer sold 5,000 shares of the stock in a transaction that occurred on Tuesday, March 23rd. The shares were sold at an average price of $56.97, for a total transaction of $284,850.00. Following the completion of the sale, the vice president now owns 24,283 shares in the company, valued at $1,383,402.51. The disclosure for this sale can be found here. Company insiders own 3.00% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of FL. Ceredex Value Advisors LLC bought a new position in shares of Foot Locker in the first quarter valued at $69,007,000. Norges Bank bought a new position in shares of Foot Locker in the fourth quarter valued at $45,742,000. Atreides Management LP bought a new position in shares of Foot Locker in the first quarter valued at $46,778,000. SummerHaven Investment Management LLC bought a new position in shares of Foot Locker in the fourth quarter valued at $582,000. Finally, Credit Suisse AG boosted its position in Foot Locker by 291.8% during the first quarter. Credit Suisse AG now owns 625,703 shares of the athletic footwear retailer’s stock worth $35,196,000 after purchasing an additional 466,004 shares during the period. Institutional investors own 91.71% of the company’s stock.

FL traded down $0.86 on Friday, reaching $61.16. 40,278 shares of the company traded hands, compared to its average volume of 1,679,482. The business has a 50 day moving average price of $60.39. Foot Locker has a 52-week low of $26.58 and a 52-week high of $66.71. The stock has a market cap of $6.32 billion, a P/E ratio of 10.25, a price-to-earnings-growth ratio of 2.89 and a beta of 1.38.

The company also recently announced a quarterly dividend, which will be paid on Friday, July 30th. Investors of record on Friday, July 16th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date is Thursday, July 15th. Foot Locker’s dividend payout ratio (DPR) is currently 28.47%.

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, Footaction, Runners Point, and Sidestep brand names.

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

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