Brokerages expect that Foot Locker, Inc. (NYSE:FL) will announce sales of $2.09 billion for the current fiscal quarter, Zacks reports. Eight analysts have provided estimates for Foot Locker’s earnings. The lowest sales estimate is $2.07 billion and the highest is $2.14 billion. Foot Locker posted sales of $2.03 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 3%. The company is expected to announce its next quarterly earnings report on Friday, May 24th.

According to Zacks, analysts expect that Foot Locker will report full-year sales of $8.26 billion for the current financial year, with estimates ranging from $8.10 billion to $8.41 billion. For the next year, analysts expect that the firm will report sales of $8.50 billion, with estimates ranging from $8.09 billion to $8.85 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Foot Locker.

Foot Locker (NYSE:FL) last posted its quarterly earnings results on Friday, March 1st. The athletic footwear retailer reported $1.56 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.40 by $0.16. The firm had revenue of $2.27 billion during the quarter, compared to the consensus estimate of $2.18 billion. Foot Locker had a net margin of 6.81% and a return on equity of 21.92%. The company’s revenue was up 2.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.26 earnings per share.

FL has been the topic of several analyst reports. Zacks Investment Research raised shares of Foot Locker from a “hold” rating to a “buy” rating and set a $59.00 price target on the stock in a report on Tuesday, December 11th. ValuEngine lowered shares of Foot Locker from a “buy” rating to a “hold” rating in a report on Saturday, March 9th. Finally, B. Riley lifted their price target on shares of Foot Locker from $57.00 to $62.00 and gave the stock a “neutral” rating in a report on Monday, March 4th. One analyst has rated the stock with a sell rating, six have given a hold rating and sixteen have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $64.24.

Shares of NYSE:FL opened at $59.35 on Tuesday. The company has a market capitalization of $6.78 billion, a P/E ratio of 12.60, a price-to-earnings-growth ratio of 1.25 and a beta of 0.76. Foot Locker has a 52 week low of $40.02 and a 52 week high of $68.00. The company has a quick ratio of 1.64, a current ratio of 3.30 and a debt-to-equity ratio of 0.05.

Foot Locker announced that its board has approved a stock repurchase plan on Wednesday, February 20th that allows the company to repurchase $1.20 billion in outstanding shares. This repurchase authorization allows the athletic footwear retailer to repurchase up to 17.7% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 3rd. Shareholders of record on Thursday, April 18th will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 2.56%. This is a positive change from Foot Locker’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend is Wednesday, April 17th. Foot Locker’s dividend payout ratio is presently 29.30%.

In other Foot Locker news, VP John A. Maurer sold 2,041 shares of the company’s stock in a transaction on Friday, December 28th. The shares were sold at an average price of $52.00, for a total value of $106,132.00. Following the sale, the vice president now directly owns 18,540 shares of the company’s stock, valued at $964,080. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Richard A. Johnson sold 80,000 shares of the company’s stock in a transaction on Wednesday, February 20th. The shares were sold at an average price of $60.01, for a total transaction of $4,800,800.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 84,082 shares of company stock worth $5,013,064. 2.10% of the stock is owned by corporate insiders.

Large investors have recently bought and sold shares of the business. Hancock Whitney Corp raised its position in shares of Foot Locker by 0.8% in the fourth quarter. Hancock Whitney Corp now owns 27,030 shares of the athletic footwear retailer’s stock worth $1,438,000 after acquiring an additional 209 shares during the period. Boston Partners raised its position in shares of Foot Locker by 1.9% in the fourth quarter. Boston Partners now owns 12,290 shares of the athletic footwear retailer’s stock worth $654,000 after acquiring an additional 225 shares during the period. United Services Automobile Association raised its position in shares of Foot Locker by 0.6% in the fourth quarter. United Services Automobile Association now owns 48,080 shares of the athletic footwear retailer’s stock worth $2,558,000 after acquiring an additional 270 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Foot Locker by 4.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,899 shares of the athletic footwear retailer’s stock worth $420,000 after acquiring an additional 323 shares during the period. Finally, First Mercantile Trust Co. raised its position in shares of Foot Locker by 20.7% in the fourth quarter. First Mercantile Trust Co. now owns 1,980 shares of the athletic footwear retailer’s stock worth $105,000 after acquiring an additional 340 shares during the period. 98.36% of the stock is currently owned by institutional investors.

Foot Locker Company Profile

Foot Locker, Inc, through its subsidiaries, operates as an athletic shoes and apparel retailer. The company operates in two segments, Athletic Stores and Direct-to-Customers. The Athletic Stores segment retails athletic footwear, apparel, accessories, and equipment under various formats, including Foot Locker, Kids Foot Locker, Lady Foot Locker, Champs Sports, Footaction, Runners Point, Sidestep, and SIX:02.

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

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