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

Foot Locker (NYSE:FL) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 1.500-1.700 for the period, compared to the consensus earnings per share estimate of 1.540. The company issued revenue guidance of $8.1 billion-$8.2 billion, compared to the consensus revenue estimate of $8.1 billion. Foot Locker also updated its FY25 guidance to $1.50-1.70 EPS.

Analyst Ratings Changes

A number of brokerages have commented on FL. Morgan Stanley cut shares of Foot Locker from an equal weight rating to an underweight rating and dropped their price objective for the stock from $24.00 to $18.00 in a research note on Thursday, July 18th. Piper Sandler reissued a neutral rating and issued a $30.00 price objective on shares of Foot Locker in a research note on Friday, August 23rd. Barclays raised shares of Foot Locker from an equal weight rating to an overweight rating and set a $34.00 price objective for the company in a research note on Thursday. Citigroup lifted their price objective on shares of Foot Locker from $27.00 to $33.00 and gave the stock a neutral rating in a research note on Tuesday, August 20th. Finally, StockNews.com cut shares of Foot Locker from a hold rating to a sell rating in a research note on Wednesday, June 19th. Five equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Foot Locker currently has a consensus rating of Hold and a consensus price target of $26.40.

Foot Locker Trading Up 1.4 %

Shares of Foot Locker stock opened at $29.85 on Thursday. The company has a current ratio of 1.68, a quick ratio of 0.50 and a debt-to-equity ratio of 0.15. Foot Locker has a 12-month low of $16.68 and a 12-month high of $35.60. The firm has a market capitalization of $2.83 billion, a price-to-earnings ratio of -7.77, a PEG ratio of 0.80 and a beta of 1.46. The firm’s 50 day simple moving average is $27.48 and its two-hundred day simple moving average is $26.18.

Foot Locker (NYSE:FL) last released its quarterly earnings data on Wednesday, August 28th. The athletic footwear retailer reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.03. The firm had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.88 billion. Foot Locker had a negative net margin of 4.41% and a positive return on equity of 2.91%. Analysts predict that Foot Locker will post 1.51 EPS for the current year.

Insider Transactions at Foot Locker

In related news, major shareholder Vesa Equity Investment S.A R.L sold 539,180 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $33.22, for a total transaction of $17,911,559.60. Following the sale, the insider now directly owns 10,393,592 shares of the company’s stock, valued at $345,275,126.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 787,566 shares of company stock worth $26,090,866 over the last 90 days. 1.20% of the stock is currently owned by company insiders.

About Foot Locker

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.