Foot Locker Inc. Reports 28% Decline In Q3 Profit

Marcus Newton
November 18, 2017

(NYSE: FL) is a specialty athletic retailer that operates more than 3,350 stores in North America, Europe, Australia, and New Zealand. Finally, Barclays PLC set a $80.00 price objective on Foot Locker and gave the company a "buy" rating in a report on Saturday, August 5th. Cowen and Company reissued a "hold" rating and issued a $52.00 price objective on shares of Foot Locker in a report on Friday, July 28th. Foot Locker has recorded a 50-day average of $34.28 and a two hundred day average of $51.08. It is negative, as 100 investors sold Foot Locker, Inc. shares while 161 reduced holdings. (NYSE:FL), 12 have Buy rating, 1 Sell and 17 Hold. Foot Locker has an average rating of "Hold" and an average target price of $58.80.

Among 30 analysts covering Foot Locker Inc. Almost 3.89 million shares were traded by the close, lower than its average daily volume of 4.78 million shares. Foot Locker, Inc. has a 52 week low of $28.42 and a 52 week high of $79.43. The company has a debt-to-equity ratio of 0.04, a current ratio of 5.63 and a quick ratio of 2.88. The firm has a market cap of $3,675.29, a P/E ratio of 6.62, a PEG ratio of 2.07 and a beta of 0.66.

Foot Locker, Inc. (NYSE:FL) reported its EPS in the last quarter as $0.62/Share lagging the analyst estimate of $0.9/Share by a difference of $-0.28.

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"The Company's results in the quarter were broadly in line with our expectations", said Richard Johnson, Chairman and Chief Executive Officer. Foot Locker Inc. had 103 analyst reports since July 21, 2015 according to SRatingsIntel. This was down from $1.89 billion a year ago. Research analysts expect Foot Locker to earn $3.73 per share next year, which means the company should continue to be able to cover its $1.24 annual dividend with an expected future payout ratio of 33.2%. Foot Locker said it incurred $7 million of hurricane-related costs, the majority of which related to damaged or lost inventory. "(FL) Price Target Lowered to $34.00 at Telsey Advisory Group" was reported by BBNS and is the sole property of of BBNS. If you are accessing this news story on another site, it was copied illegally and republished in violation of United States & worldwide copyright law. Foot Locker, Inc. (NYSE:FL) has risen 0.29% since November 17, 2016 and is uptrending.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 2nd. The athletic footwear retailer reported $0.62 EPS for the quarter, missing the consensus estimate of $0.90 by ($0.28). This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.89%. The ex-dividend date of this dividend is Thursday, January 18th. -Revenue Change (Y-o-Y): -1.1%. Afam Capital Inc. now owns 34,033 shares of the athletic footwear retailer's stock worth $1,199,000 after buying an additional 14,409 shares in the last quarter. Smithfield Trust Co. lifted its position in shares of Foot Locker by 276.2% in the third quarter. Bank of New York Mellon Corp now owns 3,591,593 shares of the athletic footwear retailer's stock valued at $126,495,000 after purchasing an additional 870,899 shares during the last quarter. Finally, Canada Pension Plan Investment Board boosted its holdings in Foot Locker by 65.3% in the second quarter. Wholly-owned NIKE, Inc. subsidiary brands include Converse, which designs, markets and distributes athletic lifestyle footwear, apparel and accessories; and Hurley, which designs, markets and distributes surf and youth lifestyle footwear, apparel and accessories.

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