Oppenheimer Weighs in on Foot Locker, Inc.’s Q3 2019 Earnings (FL)

Foot Locker, Inc. (NYSE:FL) – Equities research analysts at Oppenheimer upped their Q3 2019 earnings per share estimates for Foot Locker in a report released on Tuesday. Oppenheimer analyst A. Andreeva now anticipates that the athletic footwear retailer will post earnings per share of $1.14 for the quarter, up from their prior estimate of $0.93. Oppenheimer also issued estimates for Foot Locker’s FY2019 earnings at $4.74 EPS.

Foot Locker (NYSE:FL) last posted its earnings results on Friday, November 17th. The athletic footwear retailer reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.07. The company had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.82 billion. Foot Locker had a return on equity of 19.96% and a net margin of 6.79%. Foot Locker’s revenue was down .8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.13 earnings per share.

Several other analysts have also commented on FL. B. Riley reiterated a “neutral” rating on shares of Foot Locker in a report on Wednesday, November 1st. Canaccord Genuity set a $67.00 price objective on Foot Locker and gave the company a “buy” rating in a report on Friday. Robert W. Baird reiterated a “hold” rating and set a $52.00 price objective on shares of Foot Locker in a report on Wednesday, January 3rd. Telsey Advisory Group upgraded Foot Locker from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $44.00 to $56.00 in a report on Friday. Finally, Zacks Investment Research lowered Foot Locker from a “strong-buy” rating to a “hold” rating in a report on Tuesday. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and thirteen have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $54.34.

Shares of Foot Locker (NYSE FL) traded up $1.62 on Friday, hitting $50.21. The stock had a trading volume of 4,010,587 shares, compared to its average volume of 3,540,000. Foot Locker has a 12-month low of $28.42 and a 12-month high of $77.86. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.09 and a current ratio of 4.41. The stock has a market cap of $6,090.00, a price-to-earnings ratio of 12.65, a PEG ratio of 2.38 and a beta of 0.82.

The company also recently announced a quarterly dividend, which will be paid on Friday, February 2nd. Investors of record on Friday, January 19th will be given a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 2.47%. The ex-dividend date is Thursday, January 18th. Foot Locker’s payout ratio is 31.23%.

In related news, Director Matthew M. Mckenna sold 10,899 shares of the company’s stock in a transaction on Tuesday, January 9th. The stock was sold at an average price of $45.82, for a total value of $499,392.18. Following the transaction, the director now directly owns 35,000 shares of the company’s stock, valued at approximately $1,603,700. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.90% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. D.A. Davidson & CO. grew its position in Foot Locker by 50.3% during the 2nd quarter. D.A. Davidson & CO. now owns 2,133 shares of the athletic footwear retailer’s stock worth $105,000 after purchasing an additional 714 shares during the period. Smithfield Trust Co. grew its position in Foot Locker by 276.2% during the 3rd quarter. Smithfield Trust Co. now owns 3,198 shares of the athletic footwear retailer’s stock worth $113,000 after purchasing an additional 2,348 shares during the period. Assetmark Inc. grew its position in Foot Locker by 205.0% during the 3rd quarter. Assetmark Inc. now owns 3,834 shares of the athletic footwear retailer’s stock worth $135,000 after purchasing an additional 2,577 shares during the period. Exane Derivatives grew its position in Foot Locker by 110,475.0% during the 3rd quarter. Exane Derivatives now owns 4,423 shares of the athletic footwear retailer’s stock worth $156,000 after purchasing an additional 4,419 shares during the period. Finally, Court Place Advisors LLC acquired a new stake in Foot Locker during the 3rd quarter worth about $218,000. 89.91% of the stock is currently owned by hedge funds and other institutional investors.

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Foot Locker Company Profile

Foot Locker, Inc is a retailer of shoes and apparel. The Company operates through two segments: Athletic Stores and Direct-to-Customers. The Company is an athletic footwear and apparel retailer, which include businesses, such as include Foot Locker, Kids Foot Locker, Lady Foot Locker, Champs Sports, Footaction, Runners Point, Sidestep and SIX:02.

Earnings History and Estimates for Foot Locker (NYSE:FL)

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