Foot Locker (NYSE:FL) Issues FY 2024 Earnings Guidance

Foot Locker (NYSE:FLGet Free Report) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 1.500-1.700 for the period, compared to the consensus estimate of 1.930. The company issued revenue guidance of $8.1 billion-$8.2 billion, compared to the consensus revenue estimate of $8.0 billion.

Foot Locker Stock Performance

Shares of Foot Locker stock opened at $24.19 on Friday. The company has a 50 day moving average of $29.98 and a 200-day moving average of $25.01. Foot Locker has a 1-year low of $14.84 and a 1-year high of $47.00. The company has a current ratio of 1.72, a quick ratio of 0.35 and a debt-to-equity ratio of 0.15. The company has a market cap of $2.28 billion, a PE ratio of -6.91, a price-to-earnings-growth ratio of 0.57 and a beta of 1.45.

Foot Locker (NYSE:FLGet Free Report) last issued its quarterly earnings results on Wednesday, March 6th. The athletic footwear retailer reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.04. Foot Locker had a negative net margin of 4.04% and a positive return on equity of 4.25%. The company had revenue of $2.38 billion during the quarter, compared to the consensus estimate of $2.28 billion. During the same quarter in the prior year, the firm posted $0.97 EPS. The firm’s quarterly revenue was up 2.0% on a year-over-year basis. As a group, equities research analysts forecast that Foot Locker will post 1.59 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on FL. Guggenheim dropped their price objective on shares of Foot Locker from $35.00 to $30.00 and set a buy rating for the company in a research note on Thursday. StockNews.com raised shares of Foot Locker to a sell rating in a research note on Wednesday, November 29th. Evercore ISI dropped their price objective on shares of Foot Locker from $31.00 to $28.00 and set an in-line rating for the company in a research note on Thursday. BTIG Research cut shares of Foot Locker from a buy rating to a neutral rating in a research report on Tuesday, November 21st. Finally, Bank of America decreased their price target on shares of Foot Locker from $31.00 to $27.00 and set a neutral rating for the company in a research report on Thursday. Six equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Hold and an average price target of $27.68.

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Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of FL. Macquarie Group Ltd. boosted its stake in Foot Locker by 7,437.5% during the first quarter. Macquarie Group Ltd. now owns 3,678,300 shares of the athletic footwear retailer’s stock worth $145,992,000 after acquiring an additional 3,629,500 shares in the last quarter. Morgan Stanley lifted its stake in shares of Foot Locker by 59.1% in the third quarter. Morgan Stanley now owns 3,446,965 shares of the athletic footwear retailer’s stock valued at $59,805,000 after buying an additional 1,280,389 shares in the last quarter. Renaissance Technologies LLC lifted its stake in shares of Foot Locker by 5,122.3% in the first quarter. Renaissance Technologies LLC now owns 913,900 shares of the athletic footwear retailer’s stock valued at $27,106,000 after buying an additional 896,400 shares in the last quarter. Balyasny Asset Management L.P. bought a new position in shares of Foot Locker in the fourth quarter valued at $19,414,000. Finally, Marshall Wace LLP bought a new position in shares of Foot Locker in the second quarter valued at $14,115,000.

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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Earnings History and Estimates for Foot Locker (NYSE:FL)

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