Foot Locker Beats Revenue And Gross sales Estimates

Foot Locker (NYSE:FL)’s stock had its “neutral” rating restated by Piper Jaffray in a note issued to investors on Friday, Analyst Ratings Network.com reports.

Removing items, the company earned $1 per share, above the $0.95 average estimate of 23 analysts polled by Capital IQ.

Same-store sales increased 8.7 percent for the quarter. The Company is hosting a live conference call at 9:00 a.m. (EST) today, November 20, 2015, to review these results, provide comments on the status of its current initiatives, and discuss trends in its business and the athletic industry.

The company shares have rallied 7.86% from its 1 Year high price.

Its gross margin rate expanded to 33.8 percent of sales, compared to 33.2 percent of sales.

Foot Locker (FL) announced its quarterly earnings results on Friday, Nov-20-2015. About 5.33 million shares traded hands or 100.38% up from the average.

Foot Locker (NYSE:FL) opened at 61.12 on Thursday. The company has a market cap of $8,519 million.

As of November 16, the company had an approx 678 million shares of Class B Common Stock outstanding. The company reported $1.00 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.94 by $0.06.

Revenues: Foot Locker generated total revenue of $1,794 million that increased 3.6% year over year, and also came ahead of the Zacks Consensus Estimate of $1,782 million. During the same quarter in the previous year, Foot Locker posted $0.83 EPS. The higher price target estimate is at $99 while the lower price estimates are fixed at $50. Stockholders of record on Friday, January 15th will be paid a dividend of 0.25 per share on Friday, January 29th. This represents a $1.00 annualized dividend and a dividend yield of 1.63%. The ex-dividend date of this dividend is Wednesday, January 13th. The shares were sold at an average price of $71.40, for a total value of $999,600.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Giovanna Cipriano sold 40,000 shares of the stock in a transaction on Monday, August 31st. Mchugh Robert W sold 38,463 shares worth $2.69 million. Following the sale, the senior vice president now owns 36,335 shares in the company, valued at $2,594,319. The disclosure for this sale can be found here.

Rr Partners Lp holds 6.44% of its portfolio in Foot Locker, Inc. for 2.60 million shares. Deutsche Bank initiated it with “Buy” rating and $27 target price in a September 17 report. The Company spent $110.6 million to repurchase 1.56 million shares during the quarter and paid its quarterly stock dividend of $0.25, spending $35 million. They issued a buy rating and a $27.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. The stock now has a consensus rating of Buy and a consensus price target of $70.11.

Foot Locker is one of the biggest footwear retailers in the U.S and its performance is an indicator of demand for Nike Inc and Under Armour Inc products. The Firm operates in two divisions: Athletic Stores and Direct-to-Customers. The Direct-to-Customers segment reflects CCS and Footlocker.com, Inc., which sells, through its affiliates, including Eastbay, Inc., to customers through catalogs, mobile devices, and Internet Websites.