Foot Locker (FL) Beats Q2 Earnings amp; Revenues Estimates

The company reported $1.29 earnings per share (EPS) for the quarter, beating the Thomson Reuters consensus estimate of $1.22 by $0.07. Foot Locker is a specialty athletic retailer that operates 3,419 stores in 23 countries in North America, Europe, Australia and New Zealand, through its Foot Locker, Footaction, Lady Foot Locker, Kids Foot Locker, Champs Sports, SIX:02, Runners Point and Sidestep retail stores, as well as its direct-to-customer channels, including Eastbay.com, FootLocker.com and SIX02.com.

Foot Locker (NYSE:FL) last released its quarterly earnings results on Friday, May 22nd. During the same quarter in the previous year, the business earned $0.64 earnings per share. Foot Locker has a consensus rating of “Buy” and an average target price of $66.22.

“We rate FOOT LOCKER INC (FL) a BUY”.

Foot Locker Inc (NYSE:FL) traded down -2.82% on 20 August, hitting $71.99. Looking ahead on a three to five year basis, Wall Street is expecting earnings of $10.97 per share on the stock. Second quarter comparable-store sales increased 9.6 percent.

The business also recently declared a quarterly dividend, which will be issued on Friday, October 30th. Stockholders of record on Friday, October 16th will be given a dividend of $0.25 per share. The total amount of the transaction was worth $2,692,410, according to the disclosed information with the Securities and Exchange Commission in a Form 4 filing.

In analysts note sent to clients and investors by Barclays Capital on Thursday morning, Foot Locker Inc (NYSE:FL) had its TP increased to $76.00. The disclosure for this sale can be found here.

Several other equities analysts also recently issued reports on the stock.

Foot Locker, Inc. (NYSE:FL) has received a short term rating of buy from research analysts at Zacks with a rank of 2. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.35%. Janney Montgomery Scott lifted their price target on shares of Foot Locker from $69.00 to $70.00 and gave the company a “buy” rating in a research note on Tuesday, May 26th.

Telsey Advisory Group reiterated an Outperform rating and raised the price target to $74 from $70. “With the strong top line gain, the team at Foot Locker was able to flow the incremental sales dollars through to the bottom line at a very healthy rate, leading to good progress on all of our long-term goals”, said Lauren Peters, Executive Vice President and Chief Financial Officer. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock.

Sales grew 3.3% to $1.7 billion, or 9.9% excluding currency impacts.

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