Foot Locker, Inc. to Post FY2024 Earnings of $1.35 Per Share, Wedbush Forecasts (NYSE:FL)

by · The Markets Daily

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Foot Locker, Inc. (NYSE:FL – Free Report) – Wedbush boosted their FY2024 earnings per share (EPS) estimates for Foot Locker in a research note issued on Wednesday, November 29th. Wedbush analyst T. Nikic now forecasts that the athletic footwear retailer will post earnings of $1.35 per share for the year, up from their prior estimate of $1.30. The consensus estimate for Foot Locker’s current full-year earnings is $1.35 per share. Wedbush also issued estimates for Foot Locker’s Q4 2024 earnings at $0.32 EPS, Q3 2025 earnings at $0.85 EPS and FY2025 earnings at $2.54 EPS.

Foot Locker (NYSE:FL – Get Free Report) last announced its quarterly earnings data on Wednesday, November 29th. The athletic footwear retailer reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.07. The business had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.96 billion. Foot Locker had a return on equity of 5.83% and a net margin of 0.96%. The business’s revenue for the quarter was down 8.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.27 earnings per share.

A number of other equities analysts also recently issued reports on FL. Robert W. Baird lowered their price target on Foot Locker from $25.00 to $17.00 and set a “neutral” rating for the company in a report on Thursday, August 24th. Bank of America lowered their price target on Foot Locker from $29.00 to $18.00 and set a “neutral” rating for the company in a report on Thursday, August 24th. Piper Sandler assumed coverage on shares of Foot Locker in a research report on Tuesday, September 26th. They set a “neutral” rating and a $19.00 target price on the stock. Jefferies Financial Group lowered shares of Foot Locker from a “buy” rating to a “hold” rating and lowered their target price for the stock from $28.00 to $18.00 in a research report on Monday, September 25th. Finally, Evercore ISI assumed coverage on shares of Foot Locker in a research report on Tuesday, November 7th. They set an “inline” rating and a $23.00 target price on the stock. Six analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $25.32.

View Our Latest Research Report on Foot Locker

Foot Locker Stock Performance

Shares of FL opened at $28.50 on Monday. The stock has a 50 day moving average price of $21.65 and a 200 day moving average price of $23.09. The company has a quick ratio of 0.35, a current ratio of 1.63 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $2.68 billion, a price-to-earnings ratio of 34.34 and a beta of 1.33. Foot Locker has a 52-week low of $14.84 and a 52-week high of $47.22.

Insider Buying and Selling at Foot Locker

In other Foot Locker news, CEO Mary N. Dillon bought 5,510 shares of Foot Locker stock in a transaction on Friday, September 8th. The stock was bought at an average price of $18.17 per share, with a total value of $100,116.70. Following the completion of the acquisition, the chief executive officer now owns 27,649 shares in the company, valued at $502,382.33. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Duality Advisers LP raised its stake in shares of Foot Locker by 118.6% during the 2nd quarter. Duality Advisers LP now owns 83,484 shares of the athletic footwear retailer’s stock worth $2,263,000 after buying an additional 45,300 shares during the last quarter. Wellington Management Group LLP increased its position in Foot Locker by 294.6% during the 1st quarter. Wellington Management Group LLP now owns 2,103,407 shares of the athletic footwear retailer’s stock worth $83,484,000 after purchasing an additional 1,570,295 shares in the last quarter. Handelsbanken Fonder AB increased its position in Foot Locker by 11.5% during the 2nd quarter. Handelsbanken Fonder AB now owns 21,300 shares of the athletic footwear retailer’s stock worth $577,000 after purchasing an additional 2,200 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Foot Locker by 2.2% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 795,914 shares of the athletic footwear retailer’s stock worth $21,577,000 after purchasing an additional 17,176 shares in the last quarter. Finally, Raymond James & Associates purchased a new stake in Foot Locker during the 2nd quarter worth about $302,000.

Foot Locker Company Profile

(Get Free Report)

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 youth culture 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.

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