Foot Locker (NYSE:FL) Announces Quarterly Earnings Results

Foot Locker (NYSE:FL) issued its quarterly earnings results on Wednesday. The athletic footwear retailer reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.07), Zacks reports. The business had revenue of $1.96 billion for the quarter, compared to analyst estimates of $2.01 billion. Foot Locker had a positive return on equity of 2.73% and a negative net margin of 4.48%. The business’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.30 earnings per share.

Foot Locker Stock Performance

NYSE:FL opened at $24.17 on Wednesday. Foot Locker has a fifty-two week low of $20.47 and a fifty-two week high of $35.60. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.49 and a current ratio of 1.66. The company has a 50 day moving average price of $24.15 and a 200 day moving average price of $25.87. The stock has a market capitalization of $2.29 billion, a P/E ratio of -6.25, a PEG ratio of 0.74 and a beta of 1.46.

Analyst Ratings Changes

A number of brokerages have recently weighed in on FL. Gordon Haskett assumed coverage on Foot Locker in a research note on Monday, October 7th. They set an “accumulate” rating and a $27.00 price target on the stock. Williams Trading raised shares of Foot Locker from a “sell” rating to a “hold” rating and raised their price target for the stock from $17.00 to $21.00 in a report on Wednesday, November 27th. Robert W. Baird lowered their price objective on shares of Foot Locker from $35.00 to $27.00 and set a “neutral” rating for the company in a research note on Wednesday, September 25th. StockNews.com lowered Foot Locker from a “hold” rating to a “sell” rating in a research note on Friday, September 20th. Finally, Barclays upgraded Foot Locker from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $27.00 to $34.00 in a research note on Thursday, August 29th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $26.87.

About Foot Locker

Foot Locker, Inc, through its subsidiaries, operates as a footwear and apparel retailer in North America, Europe, Australia, New Zealand, Asia, and the Middle East. Its brand portfolio includes Foot Locker, a brand comprising sneakers and apparel; Kids Foot Locker, which offers athletic footwear, apparel, and accessories for children; and Champs Sports that operates as a mall-based specialty athletic footwear and apparel retailer.