Zacks: Analysts Expect Foot Locker, Inc. (NYSE:FL) Will Post Quarterly Sales of $1.97 Billion

Analysts forecast that Foot Locker, Inc. (NYSE:FL) will report $1.97 billion in sales for the current fiscal quarter, according to Zacks. Seven analysts have issued estimates for Foot Locker’s earnings. The highest sales estimate is $2.09 billion and the lowest is $1.79 billion. Foot Locker posted sales of $2.08 billion in the same quarter last year, which would indicate a negative year-over-year growth rate of 5.3%. The firm is scheduled to issue its next earnings report on Friday, August 20th.

According to Zacks, analysts expect that Foot Locker will report full-year sales of $8.40 billion for the current fiscal year, with estimates ranging from $7.80 billion to $8.73 billion. For the next financial year, analysts expect that the company will post sales of $8.53 billion, with estimates ranging from $8.02 billion to $8.86 billion. Zacks’ sales averages are a mean average based on a survey of research firms that follow Foot Locker.

Foot Locker (NYSE:FL) last announced its quarterly earnings results on Thursday, May 20th. The athletic footwear retailer reported $1.96 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.06 by $0.90. The company had revenue of $2.15 billion for the quarter, compared to analyst estimates of $1.86 billion. Foot Locker had a net margin of 7.45% and a return on equity of 21.23%. Foot Locker’s revenue for the quarter was up 83.1% on a year-over-year basis. During the same quarter last year, the business earned ($0.67) EPS.

A number of equities analysts have weighed in on the stock. Credit Suisse Group lifted their price target on shares of Foot Locker from $65.00 to $72.00 and gave the company an “outperform” rating in a report on Monday, May 24th. Cowen lifted their price target on shares of Foot Locker from $70.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, April 8th. They noted that the move was a valuation call. Telsey Advisory Group lifted their price target on shares of Foot Locker from $56.00 to $60.00 and gave the company a “market perform” rating in a report on Monday, May 17th. Williams Financial Group began coverage on shares of Foot Locker in a research note on Monday, February 22nd. They issued a “buy” rating and a $61.00 target price on the stock. Finally, Pivotal Research raised their target price on shares of Foot Locker from $76.00 to $82.00 and gave the company a “buy” rating in a research note on Monday, May 24th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $57.09.

Shares of FL traded down $0.86 during mid-day trading on Friday, reaching $61.16. The company had a trading volume of 40,278 shares, compared to its average volume of 1,679,482. The firm has a market capitalization of $6.32 billion, a PE ratio of 10.25, a price-to-earnings-growth ratio of 2.89 and a beta of 1.38. The company’s fifty day simple moving average is $60.39. Foot Locker has a fifty-two week low of $26.58 and a fifty-two week high of $66.71.

The business also recently announced a quarterly dividend, which will be paid on Friday, July 30th. Stockholders of record on Friday, July 16th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.31%. The ex-dividend date is Thursday, July 15th. Foot Locker’s payout ratio is currently 28.47%.

In other news, VP John A. Maurer sold 5,000 shares of Foot Locker stock in a transaction dated Tuesday, March 23rd. The shares were sold at an average price of $56.97, for a total value of $284,850.00. Following the completion of the transaction, the vice president now directly owns 24,283 shares of the company’s stock, valued at approximately $1,383,402.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Vesa Equity Investment S.A R.L sold 8,561 shares of Foot Locker stock in a transaction dated Wednesday, June 2nd. The shares were sold at an average price of $63.66, for a total transaction of $544,993.26. The disclosure for this sale can be found here. Insiders own 3.00% of the company’s stock.

Institutional investors have recently bought and sold shares of the business. First Command Bank acquired a new stake in shares of Foot Locker in the 1st quarter worth approximately $31,000. Inspire Advisors LLC acquired a new stake in shares of Foot Locker in the 4th quarter worth approximately $25,000. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of Foot Locker by 51.3% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 678 shares of the athletic footwear retailer’s stock worth $38,000 after acquiring an additional 230 shares during the period. Harvest Fund Management Co. Ltd acquired a new stake in shares of Foot Locker in the 1st quarter worth approximately $47,000. Finally, Captrust Financial Advisors lifted its stake in shares of Foot Locker by 46.6% in the 1st quarter. Captrust Financial Advisors now owns 1,023 shares of the athletic footwear retailer’s stock worth $58,000 after acquiring an additional 325 shares during the period. 91.71% of the stock is owned by hedge funds and other institutional investors.

About Foot Locker

Foot Locker, Inc, through its subsidiaries, operates as an athletic footwear and apparel retailer. The company engages in the retail of athletic footwear, apparel, accessories, equipment, and team licensed merchandise under the Foot Locker, Lady Foot Locker, Kids Foot Locker, Champs Sports, Eastbay, Footaction, Runners Point, and Sidestep brand names.

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