Will Foot Locker Inc's (FL) Earnings Grow Over The Next Year?

Lucy Hill
August 20, 2017

Wells Fargo & Company cut shares of Foot Locker from an outperform rating to a market perform rating in a report on Friday. On August 18, 2017 the stock rating was changed to a "Hold" in a report from Deutsche Bank which is down from the previous "Buy" rating.

All in all, then, Foot Locker shares were trading at $35.94 on Friday morning, which is down $11.76.

On August 18 the company was downgraded from "Buy" to "Hold" by analysts at Canaccord Genuity.

July 17 investment analysts at Deutsche Bank held the company rating at "Buy" and lowered the price target to $72.00 from $79.00.

Shares of Foot Locker (NYSE FL) traded down 27.92% during midday trading on Friday, reaching $34.38. Nike is still a core performance/innovation company, but they do rely heavily on marketing retro products such as the Cortez and Air Force 1.

Foot Locker, Inc.'s P/E ratio is 7.05 and the market value is 4.51B. To illustrate that point, shares of Foot Locker are now trading around 30 points below its 200-day moving average of $65.25 a share. The value of the investment in FL went from $8,628,000 to $5,464,000 decreasing 36.7% since the last quarter. (NYSE:FL). Robeco Institutional Asset Mgmt Bv owns 30,646 shares or 0.02% of their U.S. portfolio. Second-quarter adjusted earnings per share, the company lists, hit 62 cents on revenue of $1.701 billion. Operating margin was above company expectations due to higher merchandise margins and operating leverage, improving to 14.9% compared with 14.4% a year earlier. During the same period in the prior year, the business earned $0.94 EPS. In the last earnings report the EPS was $4.87 and is projected to be $5.07 for the current year with 131,303,000 shares presently outstanding. Moreover, Aperio Group Limited Liability has 0.04% invested in Foot Locker, Inc. If you are accessing this piece of content on another domain, it was illegally stolen and reposted in violation of USA and worldwide copyright laws.

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Entering Friday's session, Foot Locker shares had already fallen almost 33 percent in 2017. Illinois-based Nuveen Asset Mgmt Lc has invested 0.08% in Foot Locker, Inc. This represents a $1.24 dividend on an annualized basis and a yield of 3.61%. The ex-dividend date was set for Wednesday the 12th of July 2017. Foot Locker's payout ratio is now 25.36%.

The New York chain said same-store sales fell 6 percent from previous year - the first such decline since 2009, according to Citi Research. The shares were sold at an average price of $59.40, for a total value of $332,640.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.90% of the company's stock.

But investors weren't buying Johnson's narrative as the stock continued to sell off throughout the day. Susquehanna maintained Foot Locker, Inc.

Lingohr & Partner Asset Management Gmbh increased Wesco Inte (NYSE:WCC) stake by 9,500 shares to 22,800 valued at $1.52M in 2016Q4. As of the end of the quarter Wfg Advisors, Lp had acquired 1 shares growing its holdings by 0.5%.

Scroll down for five key takeaways from Foot Locker's Q2 2017 earnings call. Finally, BlackRock Inc. boosted its position in shares of Foot Locker by 2,189.3% in the first quarter.

Foot Locker, Inc., launched on April 7, 1989, is a retailer of shoes and apparel.

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