Foot Locker (NYSE:FL) Issues Earnings Results, Misses Estimates By $0.32 EPS

Foot Locker (NYSE:FL) issued its earnings results on Wednesday. The athletic footwear retailer reported ($0.27) EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.32), Zacks reports. The business had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.87 billion. Foot Locker had a positive return on equity of 3.65% and a negative net margin of 4.54%.Foot Locker’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.05) EPS.

Foot Locker Trading Down 0.1%

FL opened at $26.48 on Thursday. The company has a quick ratio of 0.49, a current ratio of 1.64 and a debt-to-equity ratio of 0.17. Foot Locker has a 52 week low of $11.00 and a 52 week high of $31.43. The stock has a market cap of $2.53 billion, a PE ratio of -7.02, a PEG ratio of 2.21 and a beta of 1.75. The business has a 50 day moving average of $25.14 and a 200-day moving average of $19.99.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Barclays cut shares of Foot Locker from an “overweight” rating to an “equal weight” rating in a research report on Thursday, May 29th. Gordon Haskett cut shares of Foot Locker from a “moderate buy” rating to a “hold” rating in a research report on Thursday, May 15th. Telsey Advisory Group restated a “market perform” rating and issued a $24.00 price objective on shares of Foot Locker in a research report on Wednesday. Needham & Company LLC restated a “hold” rating on shares of Foot Locker in a research report on Wednesday. Finally, Citigroup boosted their price objective on shares of Foot Locker from $20.00 to $24.00 and gave the company a “neutral” rating in a research report on Friday, May 16th. Two analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $21.20.

Insider Buying and Selling

In other news, CAO Giovanna Cipriano sold 22,383 shares of the company’s stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $24.90, for a total value of $557,336.70. Following the sale, the chief accounting officer directly owned 93,895 shares of the company’s stock, valued at $2,337,985.50. This represents a 19.25% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.89% of the company’s stock.

Institutional Investors Weigh In On Foot Locker

Several hedge funds have recently bought and sold shares of FL. Alliancebernstein L.P. boosted its stake in Foot Locker by 1,249.5% during the second quarter. Alliancebernstein L.P. now owns 1,510,886 shares of the athletic footwear retailer’s stock worth $37,017,000 after acquiring an additional 1,398,924 shares in the last quarter. Man Group plc boosted its stake in Foot Locker by 890.3% during the second quarter. Man Group plc now owns 1,047,369 shares of the athletic footwear retailer’s stock worth $25,661,000 after acquiring an additional 941,601 shares in the last quarter. P Schoenfeld Asset Management LP bought a new stake in Foot Locker during the second quarter worth about $19,562,000. Hudson Bay Capital Management LP bought a new stake in Foot Locker during the second quarter worth about $6,125,000. Finally, First Trust Advisors LP boosted its stake in Foot Locker by 379.6% during the second quarter. First Trust Advisors LP now owns 194,532 shares of the athletic footwear retailer’s stock worth $4,766,000 after acquiring an additional 153,974 shares in the last quarter.

Foot Locker Company Profile

Foot Locker, Inc, through its subsidiaries, operates as a footwear and apparel retailer in North America, Europe, Australia, New Zealand, Asia, and the Middle East. Its brand portfolio includes Foot Locker, a brand comprising sneakers and apparel; Kids Foot Locker, which offers athletic footwear, apparel, and accessories for children; and Champs Sports that operates as a mall-based specialty athletic footwear and apparel retailer.