Foot Locker (NYSE:FL) Releases Quarterly Earnings Results, Misses Estimates By $0.07 EPS

Foot Locker (NYSE:FL) released its quarterly earnings results on Wednesday. The athletic footwear retailer reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.07), Zacks reports. Foot Locker had a negative net margin of 4.48% and a positive return on equity of 2.73%. The company had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $2.01 billion. During the same period in the prior year, the firm posted $0.30 EPS. The business’s revenue for the quarter was down 1.4% on a year-over-year basis.

Foot Locker Stock Down 3.9 %

Shares of NYSE:FL opened at $24.17 on Wednesday. The company has a quick ratio of 0.49, a current ratio of 1.66 and a debt-to-equity ratio of 0.15. The business’s 50 day moving average is $24.15 and its 200 day moving average is $25.87. The stock has a market cap of $2.29 billion, a P/E ratio of -6.25, a price-to-earnings-growth ratio of 0.74 and a beta of 1.46. Foot Locker has a 52-week low of $20.47 and a 52-week high of $35.60.

Analyst Ratings Changes

Several equities analysts have weighed in on FL shares. Barclays raised shares of Foot Locker from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $27.00 to $34.00 in a report on Thursday, August 29th. Williams Trading raised shares of Foot Locker from a “sell” rating to a “hold” rating and upped their target price for the stock from $17.00 to $21.00 in a report on Wednesday, November 27th. Telsey Advisory Group restated a “market perform” rating and issued a $27.00 price objective on shares of Foot Locker in a research report on Wednesday, August 28th. StockNews.com downgraded Foot Locker from a “hold” rating to a “sell” rating in a research note on Friday, September 20th. Finally, Citigroup increased their price objective on shares of Foot Locker from $27.00 to $33.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $26.87.

Foot Locker Company Profile

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 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.