Foot Locker (NYSE:FL) Updates FY 2022 Earnings Guidance

Foot Locker (NYSE:FLGet Rating) issued an update on its FY 2022 earnings guidance on Friday morning. The company provided earnings per share guidance of $4.60-$4.60 for the period, compared to the consensus earnings per share estimate of $4.41. The company issued revenue guidance of $8.60 billion-$8.60 billion, compared to the consensus revenue estimate of $8.44 billion.

Several research firms have issued reports on FL. Citigroup downgraded Foot Locker from a buy rating to a sell rating and dropped their price target for the company from $73.00 to $25.00 in a research note on Monday, February 28th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Foot Locker from $30.00 to $32.00 in a research report on Monday, May 23rd. Barclays cut shares of Foot Locker from an overweight rating to an underweight rating and cut their price target for the stock from $58.00 to $24.00 in a research report on Tuesday, March 1st. Morgan Stanley boosted their price target on shares of Foot Locker from $23.00 to $24.00 and gave the stock an underweight rating in a research report on Monday, May 23rd. Finally, Seaport Res Ptn cut shares of Foot Locker from a buy rating to a neutral rating in a research report on Sunday, February 27th. Five investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average price target of $41.59.

FL stock opened at $31.24 on Friday. The company has a market cap of $3.00 billion, a PE ratio of 3.91, a price-to-earnings-growth ratio of 0.22 and a beta of 1.27. The company has a quick ratio of 0.53, a current ratio of 1.44 and a debt-to-equity ratio of 0.14. Foot Locker has a 52 week low of $26.36 and a 52 week high of $63.98. The business has a 50-day simple moving average of $30.39 and a 200 day simple moving average of $36.74.

Foot Locker (NYSE:FLGet Rating) last announced its quarterly earnings data on Friday, May 20th. The athletic footwear retailer reported $1.60 EPS for the quarter, beating the consensus estimate of $1.55 by $0.05. Foot Locker had a net margin of 9.18% and a return on equity of 23.04%. The business had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.21 billion. During the same period in the previous year, the business earned $1.96 earnings per share. The company’s revenue was up 1.0% on a year-over-year basis. On average, analysts anticipate that Foot Locker will post 4.52 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, July 29th. Stockholders of record on Friday, July 15th will be issued a dividend of $0.40 per share. The ex-dividend date is Thursday, July 14th. This represents a $1.60 annualized dividend and a dividend yield of 5.12%. Foot Locker’s dividend payout ratio (DPR) is presently 20.00%.

In related news, VP John A. Maurer sold 3,650 shares of the business’s stock in a transaction on Wednesday, March 16th. The stock was sold at an average price of $31.00, for a total transaction of $113,150.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 3.00% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. raised its stake in Foot Locker by 5.0% during the first quarter. BlackRock Inc. now owns 8,129,401 shares of the athletic footwear retailer’s stock worth $241,118,000 after buying an additional 386,775 shares during the last quarter. State Street Corp grew its stake in Foot Locker by 3.5% during the first quarter. State Street Corp now owns 2,647,143 shares of the athletic footwear retailer’s stock worth $78,514,000 after purchasing an additional 90,408 shares during the period. Renaissance Technologies LLC boosted its stake in Foot Locker by 5,122.3% during the first quarter. Renaissance Technologies LLC now owns 913,900 shares of the athletic footwear retailer’s stock worth $27,106,000 after acquiring an additional 896,400 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Foot Locker by 1.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 850,756 shares of the athletic footwear retailer’s stock worth $25,234,000 after acquiring an additional 12,668 shares in the last quarter. Finally, First Trust Advisors LP boosted its stake in Foot Locker by 2.4% during the first quarter. First Trust Advisors LP now owns 703,658 shares of the athletic footwear retailer’s stock worth $20,870,000 after acquiring an additional 16,478 shares in the last quarter. Hedge funds and other institutional investors own 83.43% of the company’s stock.

Foot Locker Company Profile (Get Rating)

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, atmos, WSS, Footaction, and Sidestep brand names.

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

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