Foot Locker (NYSE:FL) had its price objective decreased by B. Riley from $73.00 to $62.00 in a research report released on Monday, BenzingaRatingsTable reports. B. Riley currently has a buy rating on the athletic footwear retailer’s stock. B. Riley also issued estimates for Foot Locker’s Q3 2020 earnings at $1.11 EPS, Q4 2020 earnings at $1.73 EPS, FY2020 earnings at $5.04 EPS and FY2021 earnings at $5.60 EPS.
A number of other research firms have also weighed in on FL. Morgan Stanley upgraded shares of Foot Locker from an underweight rating to an equal weight rating and set a $40.00 price objective for the company in a research note on Thursday, August 8th. Guggenheim reaffirmed a buy rating and set a $60.00 price target on shares of Foot Locker in a report on Friday, May 24th. Canaccord Genuity dropped their price target on shares of Foot Locker from $82.00 to $81.00 and set a buy rating on the stock in a report on Friday, May 24th. Deutsche Bank dropped their price target on shares of Foot Locker from $82.00 to $68.00 and set a buy rating on the stock in a report on Tuesday, May 28th. Finally, ValuEngine downgraded shares of Foot Locker from a hold rating to a sell rating in a report on Friday, May 24th. One research analyst has rated the stock with a sell rating, four have given a hold rating and fourteen have issued a buy rating to the stock. The company presently has an average rating of Buy and an average price target of $66.44.
NYSE:FL opened at $41.93 on Monday. The firm has a market cap of $4.30 billion, a P/E ratio of 8.19, a P/E/G ratio of 0.79 and a beta of 0.98. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.07 and a current ratio of 2.01. Foot Locker has a fifty-two week low of $36.81 and a fifty-two week high of $68.00. The firm has a 50-day simple moving average of $40.99 and a two-hundred day simple moving average of $51.11.
Foot Locker (NYSE:FL) last released its quarterly earnings data on Friday, May 24th. The athletic footwear retailer reported $1.53 earnings per share for the quarter, missing analysts’ consensus estimates of $1.61 by ($0.08). The firm had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.11 billion. Foot Locker had a net margin of 6.86% and a return on equity of 21.75%. The firm’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.45 earnings per share. On average, equities research analysts predict that Foot Locker will post 5 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 18th will be issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.63%. The ex-dividend date is Thursday, October 17th. Foot Locker’s payout ratio is presently 32.27%.
In related news, Director Matthew M. Mckenna sold 7,000 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $40.53, for a total value of $283,710.00. Following the transaction, the director now owns 26,862 shares of the company’s stock, valued at $1,088,716.86. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 2.40% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Bremer Bank National Association purchased a new position in Foot Locker during the first quarter valued at approximately $26,000. CWM LLC lifted its holdings in Foot Locker by 264.1% during the first quarter. CWM LLC now owns 477 shares of the athletic footwear retailer’s stock valued at $29,000 after purchasing an additional 346 shares in the last quarter. Investors Research Corp purchased a new position in Foot Locker during the first quarter valued at approximately $30,000. Psagot Investment House Ltd. purchased a new position in Foot Locker during the second quarter valued at approximately $30,000. Finally, Mckinley Capital Management LLC Delaware purchased a new position in Foot Locker during the first quarter valued at approximately $33,000. 99.61% of the stock is currently owned by institutional investors.
About Foot Locker
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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