Foot Locker, Inc. (NYSE:FL) Expected to Announce Quarterly Sales of $1.82 Billion

Brokerages expect that Foot Locker, Inc. (NYSE:FL) will report sales of $1.82 billion for the current fiscal quarter, Zacks reports. Eight analysts have issued estimates for Foot Locker’s earnings, with the lowest sales estimate coming in at $1.73 billion and the highest estimate coming in at $1.88 billion. Foot Locker reported sales of $1.78 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 2.2%. The company is expected to report its next quarterly earnings results on Friday, August 23rd.

On average, analysts expect that Foot Locker will report full-year sales of $8.20 billion for the current fiscal year, with estimates ranging from $8.11 billion to $8.33 billion. For the next year, analysts anticipate that the company will post sales of $8.43 billion, with estimates ranging from $8.06 billion to $8.61 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that cover Foot Locker.

Foot Locker (NYSE:FL) last announced its earnings results on Friday, May 24th. The athletic footwear retailer reported $1.53 earnings per share for the quarter, missing analysts’ consensus estimates of $1.61 by ($0.08). The business had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.11 billion. Foot Locker had a return on equity of 21.75% and a net margin of 6.86%. Foot Locker’s revenue was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.45 earnings per share.

A number of brokerages have weighed in on FL. Pivotal Research restated a “buy” rating and issued a $60.00 target price on shares of Foot Locker in a research note on Tuesday, May 28th. Wedbush restated an “outperform” rating and issued a $60.00 target price on shares of Activision Blizzard in a research note on Monday, April 1st. Credit Suisse Group set a GBX 6,350 ($82.97) target price on AstraZeneca and gave the stock a “buy” rating in a research note on Friday, March 29th. Canaccord Genuity decreased their target price on Foot Locker from $82.00 to $81.00 and set a “buy” rating on the stock in a research note on Friday, May 24th. Finally, B. Riley set a $2.00 target price on Ascena Retail Group and gave the stock a “hold” rating in a research note on Friday, May 17th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and fifteen have issued a buy rating to the stock. Foot Locker has an average rating of “Buy” and a consensus target price of $67.72.

NYSE FL traded up $0.60 during trading on Friday, reaching $41.87. The company’s stock had a trading volume of 2,013,222 shares, compared to its average volume of 3,129,042. The company has a market capitalization of $4.48 billion, a PE ratio of 8.89, a PEG ratio of 0.82 and a beta of 0.99. The company has a debt-to-equity ratio of 1.12, a current ratio of 2.01 and a quick ratio of 1.07. The stock has a fifty day moving average of $42.18. Foot Locker has a one year low of $39.06 and a one year high of $68.00.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 2nd. Stockholders of record on Friday, July 19th will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, July 18th. This represents a $1.52 annualized dividend and a dividend yield of 3.63%. Foot Locker’s dividend payout ratio (DPR) is presently 32.27%.

Several institutional investors have recently made changes to their positions in FL. Vanguard Group Inc increased its holdings in Foot Locker by 0.7% in the 3rd quarter. Vanguard Group Inc now owns 12,178,329 shares of the athletic footwear retailer’s stock valued at $620,851,000 after buying an additional 85,314 shares during the period. LPL Financial LLC increased its holdings in Foot Locker by 3.2% in the 4th quarter. LPL Financial LLC now owns 13,355 shares of the athletic footwear retailer’s stock valued at $711,000 after buying an additional 420 shares during the period. BlackRock Inc. increased its holdings in Foot Locker by 2.1% in the 4th quarter. BlackRock Inc. now owns 7,046,767 shares of the athletic footwear retailer’s stock valued at $374,890,000 after buying an additional 146,138 shares during the period. Private Advisor Group LLC bought a new stake in Foot Locker in the 4th quarter valued at $529,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in Foot Locker by 78.2% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,788 shares of the athletic footwear retailer’s stock valued at $787,000 after buying an additional 6,489 shares during the period. Hedge funds and other institutional investors own 99.53% of the company’s stock.

About Foot Locker

Foot Locker, Inc, through its subsidiaries, operates as an athletic shoes and apparel retailer. The company operates in two segments, Athletic Stores and Direct-to-Customers. The Athletic Stores segment retails athletic footwear, apparel, accessories, and equipment under various formats, including Foot Locker, Kids Foot Locker, Lady Foot Locker, Champs Sports, Footaction, Runners Point, Sidestep, and SIX:02.

Read More: What is a Candlestick Chart?

Get a free copy of the Zacks research report on Foot Locker (FL)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Foot Locker Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Foot Locker and related companies with MarketBeat.com's FREE daily email newsletter.