Q3 2023 Earnings Estimate for Foot Locker, Inc. Issued By Seaport Res Ptn (NYSE:FL)

Foot Locker, Inc. (NYSE:FLGet Rating) – Equities researchers at Seaport Res Ptn reduced their Q3 2023 earnings estimates for shares of Foot Locker in a research report issued on Tuesday, November 15th. Seaport Res Ptn analyst M. Kummetz now expects that the athletic footwear retailer will post earnings per share of $1.38 for the quarter, down from their previous estimate of $1.47. The consensus estimate for Foot Locker’s current full-year earnings is $4.33 per share. Seaport Res Ptn also issued estimates for Foot Locker’s Q4 2023 earnings at $0.09 EPS, FY2023 earnings at $4.18 EPS and FY2025 earnings at $3.95 EPS.

Several other equities research analysts have also recently commented on the stock. Williams Trading raised shares of Foot Locker from a “sell” rating to a “hold” rating in a research report on Monday, August 22nd. The Goldman Sachs Group increased their price target on shares of Foot Locker from $28.00 to $37.00 and gave the stock a “neutral” rating in a research note on Monday, August 22nd. Barclays upgraded shares of Foot Locker from an “underweight” rating to an “equal weight” rating in a research note on Monday, August 22nd. UBS Group decreased their price target on shares of Foot Locker to $34.00 in a research note on Wednesday. Finally, Robert W. Baird increased their price target on shares of Foot Locker from $32.00 to $40.00 in a research note on Monday, August 22nd. One analyst has rated the stock with a sell rating, nineteen have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Foot Locker presently has a consensus rating of “Hold” and a consensus target price of $40.11.

Foot Locker Trading Down 7.0 %

NYSE:FL opened at $31.43 on Wednesday. The company has a 50-day moving average price of $33.41 and a 200-day moving average price of $31.31. Foot Locker has a 12 month low of $23.85 and a 12 month high of $57.76. The company has a current ratio of 1.46, a quick ratio of 0.42 and a debt-to-equity ratio of 0.14. The stock has a market cap of $2.93 billion, a price-to-earnings ratio of 6.41, a P/E/G ratio of 0.24 and a beta of 1.24.

Foot Locker (NYSE:FLGet Rating) last posted its earnings results on Friday, August 19th. The athletic footwear retailer reported $1.10 EPS for the quarter, topping the consensus estimate of $0.75 by $0.35. Foot Locker had a net margin of 5.56% and a return on equity of 19.33%. The firm had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $2.07 billion. During the same period last year, the company posted $2.21 EPS. The company’s quarterly revenue was down 9.2% compared to the same quarter last year.

Institutional Investors Weigh In On Foot Locker

Several institutional investors and hedge funds have recently modified their holdings of FL. Meeder Asset Management Inc. bought a new stake in Foot Locker in the first quarter worth $25,000. Northwestern Mutual Wealth Management Co. increased its position in Foot Locker by 173.9% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 849 shares of the athletic footwear retailer’s stock worth $25,000 after purchasing an additional 539 shares during the last quarter. C M Bidwell & Associates Ltd. bought a new stake in Foot Locker in the second quarter worth $30,000. Wipfli Financial Advisors LLC bought a new stake in Foot Locker in the third quarter worth $42,000. Finally, Advisors Asset Management Inc. increased its position in Foot Locker by 68.3% in the first quarter. Advisors Asset Management Inc. now owns 1,336 shares of the athletic footwear retailer’s stock worth $40,000 after purchasing an additional 542 shares during the last quarter. Institutional investors own 98.06% of the company’s stock.

Insider Buying and Selling

In other Foot Locker news, SVP Todd Greener sold 2,500 shares of Foot Locker stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $30.99, for a total transaction of $77,475.00. Following the transaction, the senior vice president now owns 8,421 shares of the company’s stock, valued at $260,966.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Foot Locker news, SVP Todd Greener sold 2,500 shares of Foot Locker stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $30.99, for a total transaction of $77,475.00. Following the transaction, the senior vice president now owns 8,421 shares of the company’s stock, valued at $260,966.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Vesa Equity Investment S.A R.L sold 81,199 shares of Foot Locker stock in a transaction that occurred on Thursday, September 22nd. The shares were sold at an average price of $36.74, for a total transaction of $2,983,251.26. Following the transaction, the insider now directly owns 12,659,379 shares in the company, valued at approximately $465,105,584.46. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 557,380 shares of company stock valued at $18,395,121. 3.00% of the stock is owned by insiders.

Foot Locker Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 27th. Investors of record on Friday, January 13th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 5.09%. The ex-dividend date is Thursday, January 12th. Foot Locker’s payout ratio is 32.65%.

About Foot Locker

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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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