Foot Locker, Inc. (FL) Posts Quarterly Earnings Results, Misses Estimates By $0.02 EPS
Foot Locker, Inc. (NYSE:FL) announced its earnings results on Friday. The textile maker reported $1.36 earnings per share for the quarter, missing the consensus estimate of $1.38 by $0.02. The firm had revenue of $2 billion during the quarter, compared to analysts’ expectations of $2.02 billion. Foot Locker had a net margin of 8.26% and a return on equity of 24.22%. Foot Locker’s revenue for the quarter was up .7% compared to the same quarter last year. During the same quarter last year, the company posted $1.39 earnings per share.
Shares of Foot Locker (NYSE:FL) opened at 70.45 on Friday. The company has a 50 day moving average of $74.49 and a 200-day moving average of $72.82. The firm has a market cap of $9.25 billion, a PE ratio of 14.35 and a beta of 0.57. Foot Locker has a 12-month low of $50.90 and a 12-month high of $79.43.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 28th. Investors of record on Friday, July 14th will be issued a $0.31 dividend. The ex-dividend date is Wednesday, July 12th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.76%. Foot Locker’s dividend payout ratio (DPR) is presently 23.71%.
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Several research analysts have recently weighed in on the stock. Susquehanna Bancshares Inc restated a “positive” rating and issued a $86.00 target price on shares of Foot Locker in a research note on Friday, April 21st. B. Riley restated a “buy” rating and issued a $79.00 target price on shares of Foot Locker in a research note on Thursday, April 20th. Zacks Investment Research downgraded shares of Foot Locker from a “hold” rating to a “sell” rating in a research note on Wednesday, February 15th. Wedbush restated an “outperform” rating and issued a $83.00 target price on shares of Foot Locker in a research note on Wednesday. Finally, Piper Jaffray Companies set a $76.00 price target on shares of Foot Locker and gave the company a “hold” rating in a report on Friday, February 24th. Five equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $80.91.
In other Foot Locker news, SVP Paulette Alviti sold 8,000 shares of Foot Locker stock in a transaction on Thursday, April 20th. The stock was sold at an average price of $74.50, for a total transaction of $596,000.00. Following the completion of the transaction, the senior vice president now directly owns 36,641 shares of the company’s stock, valued at $2,729,754.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Lauren B. Peters sold 25,000 shares of Foot Locker stock in a transaction on Wednesday, March 8th. The shares were sold at an average price of $77.51, for a total value of $1,937,750.00. Following the transaction, the chief financial officer now directly owns 144,597 shares of the company’s stock, valued at $11,207,713.47. The disclosure for this sale can be found here. Over the last three months, insiders have sold 35,000 shares of company stock valued at $2,686,090. Company insiders own 2.92% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Summit Global Investments boosted its position in shares of Foot Locker by 15.4% in the first quarter. Summit Global Investments now owns 15,260 shares of the textile maker’s stock worth $1,142,000 after buying an additional 2,031 shares during the last quarter. Janus Capital Management LLC boosted its position in shares of Foot Locker by 32.1% in the first quarter. Janus Capital Management LLC now owns 106,413 shares of the textile maker’s stock worth $7,960,000 after buying an additional 25,881 shares during the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. boosted its position in shares of Foot Locker by 46.7% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 7,333 shares of the textile maker’s stock worth $549,000 after buying an additional 2,333 shares during the last quarter. HighTower Advisors LLC boosted its position in shares of Foot Locker by 52.8% in the first quarter. HighTower Advisors LLC now owns 9,018 shares of the textile maker’s stock worth $675,000 after buying an additional 3,115 shares during the last quarter. Finally, Gareth Morgan Investments Limited Partnership boosted its position in shares of Foot Locker by 4.3% in the first quarter. Gareth Morgan Investments Limited Partnership now owns 36,042 shares of the textile maker’s stock worth $2,696,000 after buying an additional 1,474 shares during the last quarter. 95.30% of the stock is owned by institutional investors.
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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