FY2018 EPS Estimates for Foot Locker Inc. Raised by Wedbush (FL)
Foot Locker Inc. (NYSE:FL) – Wedbush boosted their FY2018 earnings estimates for shares of Foot Locker in a report issued on Monday. Wedbush analyst C. Svezia now expects that the firm will post earnings per share of $5.26 for the year, up from their previous estimate of $5.25. Wedbush has a “Outperform” rating and a $80.00 price objective on the stock.
Foot Locker (NYSE:FL) last posted its earnings results on Friday, November 18th. The company reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.03. Foot Locker had a net margin of 8.26% and a return on equity of 24.22%. The business had revenue of $1.89 billion for the quarter. During the same period in the previous year, the company earned $1.00 earnings per share. The company’s revenue was up 5.1% compared to the same quarter last year.
Several other equities research analysts have also recently issued reports on FL. B. Riley reaffirmed a “buy” rating and set a $81.00 price objective on shares of Foot Locker in a research report on Thursday. Canaccord Genuity set a $79.00 price target on shares of Foot Locker and gave the company a “buy” rating in a research report on Saturday, November 19th. Telsey Advisory Group boosted their price target on shares of Foot Locker from $72.00 to $78.00 and gave the company an “outperform” rating in a research report on Monday, August 22nd. Piper Jaffray Cos. set a $67.00 price target on shares of Foot Locker and gave the company a “buy” rating in a research report on Thursday, August 18th. Finally, Susquehanna boosted their price target on shares of Foot Locker from $73.00 to $80.00 and gave the company a “positive” rating in a research report on Monday, August 22nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $74.32.
Foot Locker (NYSE:FL) traded up 1.17% during midday trading on Tuesday, hitting $74.19. 1,693,668 shares of the stock traded hands. Foot Locker has a one year low of $50.90 and a one year high of $74.71. The company has a market cap of $9.94 billion, a P/E ratio of 16.02 and a beta of 0.59. The company’s 50 day moving average is $68.94 and its 200-day moving average is $62.26.
Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in Foot Locker by 15.9% in the second quarter. Vanguard Group Inc. now owns 12,566,107 shares of the company’s stock worth $689,377,000 after buying an additional 1,721,731 shares in the last quarter. Bank of Montreal Can bought a new position in Foot Locker during the second quarter worth $74,928,000. Fiera Capital Corp increased its position in Foot Locker by 1,328.7% in the second quarter. Fiera Capital Corp now owns 1,280,095 shares of the company’s stock worth $70,226,000 after buying an additional 1,190,495 shares in the last quarter. TimesSquare Capital Management LLC bought a new position in Foot Locker during the third quarter worth $67,260,000. Finally, Ameriprise Financial Inc. increased its position in Foot Locker by 68.5% in the second quarter. Ameriprise Financial Inc. now owns 2,438,743 shares of the company’s stock worth $133,786,000 after buying an additional 991,321 shares in the last quarter. 94.60% of the stock is currently owned by institutional investors and hedge funds.
In related news, CEO Lewis Phillip Kimble sold 43,479 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 26,131 shares of the company’s stock, valued at $1,708,967.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Cheryl N. Turpin sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 12th. The shares were sold at an average price of $69.16, for a total transaction of $691,600.00. Following the transaction, the director now directly owns 40,858 shares in the company, valued at approximately $2,825,739.28. The disclosure for this sale can be found here. Corporate insiders own 2.90% of the company’s stock.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 27th. Investors of record on Friday, January 13th will be paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 1.48%. The ex-dividend date is Wednesday, January 11th. Foot Locker’s payout ratio is 23.71%.
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’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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