Foot Locker, Inc. (NYSE:FL) Forecasted to Earn Q1 2024 Earnings of $1.00 Per Share

Foot Locker, Inc. (NYSE:FL – Get Rating) – Equities research analysts at Telsey Advisory Group dropped their Q1 2024 EPS estimates for shares of Foot Locker in a report issued on Thursday, March 16th. Telsey Advisory Group analyst C. Fernandez now forecasts that the athletic footwear retailer will post earnings per share of $1.00 for the quarter, down from their prior forecast of $1.08. Telsey Advisory Group currently has a “Outperform” rating and a $50.00 target price on the stock. The consensus estimate for Foot Locker’s current full-year earnings is $4.50 per share. Telsey Advisory Group also issued estimates for Foot Locker’s Q2 2024 earnings at $0.87 EPS, Q1 2025 earnings at $1.43 EPS, Q2 2025 earnings at $1.04 EPS, Q3 2025 earnings at $1.56 EPS, Q4 2025 earnings at $0.91 EPS and FY2025 earnings at $4.95 EPS.

Other research analysts have also issued research reports about the stock. Barclays increased their target price on shares of Foot Locker from $38.00 to $40.00 in a research report on Monday, November 21st. Cowen lifted their price objective on Foot Locker from $35.00 to $39.00 in a report on Monday, November 21st. Credit Suisse Group raised Foot Locker from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $38.00 to $62.00 in a report on Wednesday, February 1st. Seaport Res Ptn reaffirmed a “neutral” rating on shares of Foot Locker in a research note on Tuesday. Finally, UBS Group raised their target price on shares of Foot Locker to $39.00 in a report on Monday, November 28th. Seventeen analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $41.32.

Foot Locker Stock Down 1.0 %

Shares of FL opened at $42.26 on Friday. The firm has a market cap of $3.94 billion, a P/E ratio of 9.63 and a beta of 1.25. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.43 and a current ratio of 1.54. Foot Locker has a 52 week low of $23.85 and a 52 week high of $47.22. The firm’s 50-day simple moving average is $42.54 and its 200 day simple moving average is $37.68.

Foot Locker Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 28th. Investors of record on Friday, April 14th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, April 13th. This represents a $1.60 annualized dividend and a yield of 3.79%. Foot Locker’s dividend payout ratio is currently 36.45%.

Insiders Place Their Bets

In related news, SVP Todd Greener sold 2,500 shares of the business’s stock in a transaction on Thursday, January 5th. The shares were sold at an average price of $37.63, for a total transaction of $94,075.00. Following the transaction, the senior vice president now owns 5,921 shares in the company, valued at approximately $222,807.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, SVP Todd Greener sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, January 5th. The stock was sold at an average price of $37.63, for a total transaction of $94,075.00. Following the transaction, the senior vice president now directly owns 5,921 shares of the company’s stock, valued at approximately $222,807.23. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP John A. Maurer sold 3,500 shares of the stock in a transaction that occurred 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 completion of the transaction, the vice president now owns 23,221 shares in the company, valued at approximately $975,514.21. The disclosure for this sale can be found here. 3.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Foot Locker

Several large investors have recently added to or reduced their stakes in FL. BlackRock Inc. boosted its holdings in Foot Locker by 5.0% during the 1st quarter. BlackRock Inc. now owns 8,129,401 shares of the athletic footwear retailer’s stock worth $241,118,000 after acquiring an additional 386,775 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Foot Locker by 10.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,526,631 shares of the athletic footwear retailer’s stock worth $208,848,000 after purchasing an additional 500,213 shares during the last quarter. LSV Asset Management boosted its holdings in Foot Locker by 1.6% during the third quarter. LSV Asset Management now owns 4,492,965 shares of the athletic footwear retailer’s stock worth $139,866,000 after purchasing an additional 70,700 shares during the last quarter. State Street Corp grew its position in Foot Locker by 9.4% in the 2nd quarter. State Street Corp now owns 2,895,754 shares of the athletic footwear retailer’s stock worth $73,118,000 after purchasing an additional 248,611 shares in the last quarter. Finally, Morgan Stanley increased its stake in Foot Locker by 2.3% in the 4th quarter. Morgan Stanley now owns 1,667,471 shares of the athletic footwear retailer’s stock valued at $63,014,000 after buying an additional 37,936 shares during the last quarter. Institutional investors own 95.06% of the company’s stock.

About Foot Locker

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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.