Foot Locker (NYSE:FL) Issues Q4 Earnings Guidance

Foot Locker (NYSE:FL) updated its fourth quarter earnings guidance on Wednesday. The company provided earnings per share guidance of $0.70-0.80 for the period, compared to the consensus earnings per share estimate of $0.95. The company issued revenue guidance of (3.5%)-(1.5%) to ~$2.30-2.35 billion, compared to the consensus revenue estimate of $2.34 billion. Foot Locker also updated its FY 2024 guidance to 1.200-1.300 EPS.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on FL. Telsey Advisory Group reduced their price objective on Foot Locker from $30.00 to $24.00 and set a “market perform” rating for the company in a research note on Thursday. Needham & Company LLC reissued a “buy” rating and set a $27.00 price target on shares of Foot Locker in a research report on Wednesday. Robert W. Baird dropped their price objective on shares of Foot Locker from $27.00 to $24.00 and set a “neutral” rating on the stock in a report on Thursday. Barclays raised shares of Foot Locker from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $27.00 to $34.00 in a report on Thursday, August 29th. Finally, Williams Trading raised shares of Foot Locker from a “sell” rating to a “hold” rating and upped their price target for the company from $17.00 to $21.00 in a report on Wednesday, November 27th. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $25.71.

Foot Locker Price Performance

Shares of FL opened at $21.16 on Friday. Foot Locker has a 12 month low of $19.33 and a 12 month high of $35.60. The stock’s 50 day moving average is $24.07 and its two-hundred day moving average is $25.84. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.67 and a quick ratio of 0.49.

Foot Locker (NYSE:FL) last released its quarterly earnings results on Wednesday, December 4th. The athletic footwear retailer reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.07). The company had revenue of $1.96 billion during the quarter, compared to analyst estimates of $2.01 billion. Foot Locker had a negative net margin of 5.24% and a positive return on equity of 2.91%. Foot Locker’s revenue was down 1.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.30 EPS. As a group, sell-side analysts expect that Foot Locker will post 1.52 EPS for the current fiscal year.

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.