Zacks: Brokerages Anticipate Foot Locker (FL) to Announce $1.25 Earnings Per Share

Equities research analysts expect Foot Locker (NYSE:FL) to announce earnings per share of $1.25 for the current quarter, Zacks reports. Nine analysts have made estimates for Foot Locker’s earnings, with the highest EPS estimate coming in at $1.30 and the lowest estimate coming in at $1.21. Foot Locker reported earnings per share of $1.36 in the same quarter last year, which would indicate a negative year-over-year growth rate of 8.1%. The business is expected to announce its next earnings results before the market opens on Friday, May 25th.

On average, analysts expect that Foot Locker will report full year earnings of $4.42 per share for the current fiscal year, with EPS estimates ranging from $4.10 to $4.60. For the next financial year, analysts forecast that the business will report earnings of $4.70 per share, with EPS estimates ranging from $4.00 to $5.20. Zacks’ earnings per share averages are a mean average based on a survey of sell-side analysts that that provide coverage for Foot Locker.

Foot Locker (NYSE:FL) last released its quarterly earnings data on Friday, March 2nd. The athletic footwear retailer reported $1.26 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.25 by $0.01. Foot Locker had a return on equity of 19.32% and a net margin of 3.65%. The company had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.23 billion. During the same quarter in the prior year, the firm posted $1.37 earnings per share. The firm’s revenue was up 4.6% compared to the same quarter last year.

Several research analysts have recently issued reports on the company. Wedbush reaffirmed an “outperform” rating and issued a $59.00 price objective (up previously from $52.00) on shares of Foot Locker in a research note on Thursday, January 25th. Pivotal Research assumed coverage on Foot Locker in a research note on Thursday, January 25th. They issued a “buy” rating and a $65.00 price objective for the company. Barclays upped their price objective on Foot Locker from $55.00 to $60.00 and gave the company an “overweight” rating in a research note on Tuesday, January 30th. Oppenheimer raised Foot Locker from a “market perform” rating to an “outperform” rating and set a $70.00 price objective for the company in a research note on Wednesday, January 31st. Finally, ValuEngine downgraded Foot Locker from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating and sixteen have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $54.79.

In other news, Director Jarobin Gilbert, Jr. sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, March 12th. The stock was sold at an average price of $43.44, for a total transaction of $65,160.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Lewis Phillip Kimble sold 11,043 shares of the company’s stock in a transaction that occurred on Monday, March 12th. The stock was sold at an average price of $42.71, for a total value of $471,646.53. The disclosure for this sale can be found here. 2.90% of the stock is currently owned by corporate insiders.

Several large investors have recently modified their holdings of the company. Levin Capital Strategies L.P. acquired a new position in shares of Foot Locker during the first quarter worth approximately $417,000. Wesbanco Bank Inc. acquired a new position in shares of Foot Locker during the first quarter worth approximately $1,829,000. CIBC World Markets Inc. raised its position in shares of Foot Locker by 67.6% during the first quarter. CIBC World Markets Inc. now owns 19,513 shares of the athletic footwear retailer’s stock worth $889,000 after purchasing an additional 7,867 shares during the period. Xact Kapitalforvaltning AB raised its position in shares of Foot Locker by 45.3% during the first quarter. Xact Kapitalforvaltning AB now owns 17,000 shares of the athletic footwear retailer’s stock worth $774,000 after purchasing an additional 5,300 shares during the period. Finally, Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp raised its position in shares of Foot Locker by 58.7% during the first quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 267,200 shares of the athletic footwear retailer’s stock worth $12,168,000 after purchasing an additional 98,800 shares during the period. 95.21% of the stock is currently owned by institutional investors.

Shares of Foot Locker stock traded down $0.49 on Friday, hitting $43.44. The stock had a trading volume of 2,679,962 shares, compared to its average volume of 2,387,805. Foot Locker has a twelve month low of $28.42 and a twelve month high of $61.40. The company has a debt-to-equity ratio of 0.05, a current ratio of 4.14 and a quick ratio of 2.07. The company has a market capitalization of $5.32 billion, a P/E ratio of 10.57, a P/E/G ratio of 1.54 and a beta of 0.86.

The firm also recently declared a quarterly dividend, which was paid on Friday, May 4th. Shareholders of record on Friday, April 20th were issued a dividend of $0.345 per share. This represents a $1.38 dividend on an annualized basis and a dividend yield of 3.18%. This is a boost from Foot Locker’s previous quarterly dividend of $0.31. The ex-dividend date was Thursday, April 19th. Foot Locker’s dividend payout ratio is presently 33.58%.

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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