Brokers Offer Predictions for Foot Locker Inc.’s FY2017 Earnings (FL)
Foot Locker Inc. (NYSE:FL) – Investment analysts at FBR & Co lifted their FY2017 earnings per share estimates for shares of Foot Locker in a research note issued to investors on Monday. FBR & Co analyst S. Anderson now expects that the brokerage will earn $4.76 per share for the year, up from their prior estimate of $4.73. FBR & Co currently has a “Hold” rating and a $71.00 target price on the stock. FBR & Co also issued estimates for Foot Locker’s Q4 2017 earnings at $1.30 EPS.
Foot Locker (NYSE:FL) last announced its quarterly earnings results on Friday, November 18th. The company reported $1.13 EPS for the quarter, beating the Zacks’ consensus estimate of $1.10 by $0.03. Foot Locker had a return on equity of 24.22% and a net margin of 8.26%. The company earned $1.89 billion during the quarter. During the same quarter in the previous year, the company posted $1.00 earnings per share. The firm’s revenue was up 5.1% on a year-over-year basis.
Several other brokerages also recently commented on FL. Susquehanna began coverage on shares of Foot Locker in a research note on Friday, August 12th. They set a “positive” rating and a $73.00 price objective for the company. Zacks Investment Research raised shares of Foot Locker from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a research note on Wednesday, October 5th. JPMorgan Chase & Co. reissued a “focus list” rating on shares of Foot Locker in a research note on Monday, September 26th. OTR Global downgraded shares of Foot Locker to a “positive” rating in a research note on Friday, August 19th. Finally, Guggenheim began coverage on shares of Foot Locker in a research note on Friday, September 30th. They issued a “neutral” rating for the company. One research analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $74.32.
Shares of Foot Locker (NYSE:FL) traded up 1.07% on Tuesday, hitting $73.88. The stock had a trading volume of 1,131,168 shares. Foot Locker has a 1-year low of $50.90 and a 1-year high of $74.55. The firm has a 50-day moving average of $68.58 and a 200 day moving average of $62.08. The company has a market capitalization of $9.84 billion, a PE ratio of 18.38 and a beta of 0.59.
Hedge funds have recently made changes to their positions in the stock. NEXT Financial Group Inc increased its stake in shares of Foot Locker by 0.7% in the second quarter. NEXT Financial Group Inc now owns 4,530 shares of the company’s stock valued at $248,000 after buying an additional 30 shares during the last quarter. Aviance Capital Partners LLC increased its stake in shares of Foot Locker by 0.3% in the third quarter. Aviance Capital Partners LLC now owns 15,688 shares of the company’s stock valued at $1,062,000 after buying an additional 46 shares during the last quarter. AMG National Trust Bank increased its stake in shares of Foot Locker by 1.3% in the third quarter. AMG National Trust Bank now owns 5,200 shares of the company’s stock valued at $352,000 after buying an additional 65 shares during the last quarter. HGK Asset Management Inc. increased its stake in shares of Foot Locker by 1.0% in the third quarter. HGK Asset Management Inc. now owns 6,520 shares of the company’s stock valued at $442,000 after buying an additional 65 shares during the last quarter. Finally, Gerstein Fisher increased its stake in shares of Foot Locker by 1.7% in the second quarter. Gerstein Fisher now owns 4,463 shares of the company’s stock valued at $245,000 after buying an additional 73 shares during the last quarter. Hedge funds and other institutional investors own 94.60% of the company’s stock.
In other news, CEO Lewis Phillip Kimble sold 43,479 shares of the firm’s stock in a transaction on Wednesday, September 7th. The shares were sold at an average price of $65.40, for a total transaction of $2,843,526.60. Following the sale, the chief executive officer now directly owns 26,131 shares in the company, valued at approximately $1,708,967.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Nicholas P. Dipaolo sold 5,424 shares of the firm’s stock in a transaction on Thursday, October 13th. The shares were sold at an average price of $68.75, for a total transaction of $372,900.00. Following the sale, the director now owns 68,128 shares in the company, valued at $4,683,800. The disclosure for this sale can be found here. 2.92% of the stock is currently owned by company insiders.
The firm also recently declared a quarterly dividend, which will be paid on Friday, January 27th. Shareholders of record on Friday, January 13th will be given a $0.275 dividend. The ex-dividend date of this dividend is Wednesday, January 11th. This represents a $1.10 annualized dividend and a yield of 1.50%. Foot Locker’s payout ratio is presently 23.71%.
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’s Athletic Stores segment is an athletic footwear and apparel retailer whose formats include Foot Locker, Lady Foot Locker, Kids Foot Locker, Champs Sports, Footaction, SIX:02, Runners Point Group, including Runners Point and Sidestep.
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