Zacks Research Comments on Foot Locker, Inc.’s Q1 2024 Earnings (NYSE:FL)

Posted by Defense World Staff on Apr 6th, 2023

Foot Locker, Inc. (NYSE:FL – Get Rating) – Research analysts at Zacks Research lowered their Q1 2024 earnings per share (EPS) estimates for shares of Foot Locker in a note issued to investors on Monday, April 3rd. Zacks Research analyst A. Mohta now forecasts that the athletic footwear retailer will post earnings per share of $0.84 for the quarter, down from their prior forecast of $1.02. The consensus estimate for Foot Locker’s current full-year earnings is $3.50 per share. Zacks Research also issued estimates for Foot Locker’s Q1 2025 earnings at $0.95 EPS, Q2 2025 earnings at $0.86 EPS, Q3 2025 earnings at $1.03 EPS, Q4 2025 earnings at $1.22 EPS, FY2025 earnings at $4.06 EPS and FY2026 earnings at $4.88 EPS.

Several other research analysts have also commented on FL. Guggenheim reiterated a “buy” rating and issued a $60.00 target price on shares of Foot Locker in a research report on Tuesday, March 21st. Barclays lifted their target price on Foot Locker from $40.00 to $43.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 21st. Telsey Advisory Group upgraded Foot Locker from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $39.00 to $50.00 in a research report on Thursday, March 16th. Citigroup upgraded Foot Locker from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $47.00 to $50.00 in a research report on Tuesday, March 21st. Finally, BTIG Research cut their price target on Foot Locker from $55.00 to $53.00 in a report on Tuesday, March 21st. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Foot Locker currently has an average rating of “Hold” and an average target price of $44.30.

Foot Locker Price Performance

Shares of FL opened at $40.72 on Wednesday. The firm has a market cap of $3.80 billion, a price-to-earnings ratio of 11.41 and a beta of 1.24. The stock has a 50 day moving average of $42.78 and a 200-day moving average of $37.92. The company has a current ratio of 1.57, a quick ratio of 0.55 and a debt-to-equity ratio of 0.14. Foot Locker has a 52 week low of $23.85 and a 52 week high of $47.22.

Foot Locker (NYSE:FL – Get Rating) last issued its quarterly earnings data on Monday, March 20th. The athletic footwear retailer reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.45. The firm had revenue of $2.33 billion during the quarter, compared to analyst estimates of $2.14 billion. Foot Locker had a return on equity of 14.57% and a net margin of 3.91%. Foot Locker’s quarterly revenue was down .3% on a year-over-year basis. During the same quarter last year, the firm earned $1.67 EPS.

Foot Locker Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 28th. Shareholders of record on Friday, April 14th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.93%. The ex-dividend date of this dividend is Thursday, April 13th. Foot Locker’s payout ratio is currently 44.82%.

Insider Buying and Selling at Foot Locker

In other news, VP John A. Maurer sold 3,500 shares of the business’s stock in a transaction on Thursday, January 26th. The stock was sold at an average price of $42.01, for a total value of $147,035.00. Following the sale, the vice president now owns 23,221 shares of the company’s stock, valued at approximately $975,514.21. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.00% of the stock is owned by company insiders.

Institutional Trading of Foot Locker

Hedge funds and other institutional investors have recently modified their holdings of the company. Belpointe Asset Management LLC acquired a new position in shares of Foot Locker in the 4th quarter worth $39,000. Wipfli Financial Advisors LLC acquired a new position in shares of Foot Locker in the 3rd quarter worth $42,000. Advisors Asset Management Inc. grew its holdings in shares of Foot Locker by 68.3% in the 1st quarter. Advisors Asset Management Inc. now owns 1,336 shares of the athletic footwear retailer’s stock worth $40,000 after acquiring an additional 542 shares during the last quarter. Canada Pension Plan Investment Board grew its holdings in shares of Foot Locker by 659.5% in the 1st quarter. Canada Pension Plan Investment Board now owns 3,600 shares of the athletic footwear retailer’s stock worth $107,000 after acquiring an additional 3,126 shares during the last quarter. Finally, Kessler Investment Group LLC acquired a new position in shares of Foot Locker in the 3rd quarter worth $122,000. Institutional investors own 95.06% of the company’s stock.

Foot Locker Company Profile

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Foot Locker, Inc engages in the retail of athletic shoes and apparel. The firm uses its omni-channel capabilities to bridge the digital world and physical stores, including order-in-store, buy online and pickup-in-store, and buy online and ship-from-store, as well as e-commerce. It operates through following segments: North America, EMEA (Europe, Middle East, and Africa, and Asia Pacific.