Foot Locker, Inc. (FL) Sees Unusually-High Trading Volume Following Better-Than-Expected Earnings
Foot Locker, Inc. (NYSE:FL) shares saw strong trading volume on Friday after the company announced better than expected quarterly earnings. 30,570,369 shares changed hands during mid-day trading, an increase of 791% from the previous session’s volume of 3,430,947 shares.The stock last traded at $40.82 and had previously closed at $31.85.
The athletic footwear retailer reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.07. Foot Locker had a return on equity of 21.52% and a net margin of 7.49%. The company had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.82 billion. During the same quarter last year, the firm posted $1.13 earnings per share. The firm’s revenue was down .8% on a year-over-year basis.
The firm also recently declared a quarterly dividend, which will be paid on Friday, February 2nd. Investors of record on Friday, January 19th will be paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date of this dividend is Thursday, January 18th. Foot Locker’s payout ratio is 28.64%.
A number of analysts recently commented on the company. Morgan Stanley raised Foot Locker from an “equal weight” rating to an “overweight” rating and dropped their price target for the stock from $70.00 to $65.00 in a research note on Tuesday, August 8th. Canaccord Genuity lowered Foot Locker from a “buy” rating to a “hold” rating in a research report on Friday, August 18th. B. Riley reissued a “neutral” rating on shares of Foot Locker in a research report on Wednesday, November 1st. FBR & Co reissued a “hold” rating on shares of Foot Locker in a research report on Monday, August 21st. Finally, Zacks Investment Research raised Foot Locker from a “sell” rating to a “hold” rating in a research report on Monday, October 23rd. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating and twelve have given a buy rating to the company’s stock. Foot Locker presently has a consensus rating of “Hold” and a consensus target price of $57.67.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Afam Capital Inc. increased its holdings in Foot Locker by 73.4% in the 3rd quarter. Afam Capital Inc. now owns 34,033 shares of the athletic footwear retailer’s stock worth $1,199,000 after buying an additional 14,409 shares in the last quarter. Highlander Capital Management LLC bought a new stake in Foot Locker in the 3rd quarter worth about $352,000. Cubist Systematic Strategies LLC increased its holdings in Foot Locker by 8.4% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 51,637 shares of the athletic footwear retailer’s stock worth $1,819,000 after buying an additional 3,981 shares in the last quarter. U S Global Investors Inc. bought a new stake in Foot Locker in the 3rd quarter worth about $321,000. Finally, Vident Investment Advisory LLC increased its holdings in Foot Locker by 95.6% in the 3rd quarter. Vident Investment Advisory LLC now owns 69,782 shares of the athletic footwear retailer’s stock worth $2,457,000 after buying an additional 34,103 shares in the last quarter. Institutional investors own 95.20% of the company’s stock.
The stock has a market capitalization of $3,950.00, a P/E ratio of 6.70, a PEG ratio of 2.09 and a beta of 0.66. The company has a current ratio of 5.63, a quick ratio of 2.88 and a debt-to-equity ratio of 0.04.
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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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