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

Foot Locker (NYSE:FL) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 1.500-1.700 for the period, compared to the consensus 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 Upgrades and Downgrades

A number of brokerages recently issued reports on FL. Robert W. Baird increased their price objective on Foot Locker from $26.00 to $35.00 and gave the stock a neutral rating in a research report on Monday. Morgan Stanley downgraded Foot Locker from an equal weight rating to an underweight rating and lowered their price objective for the stock from $24.00 to $18.00 in a research report on Thursday, July 18th. Wedbush reiterated a neutral rating and issued a $25.00 price objective on shares of Foot Locker in a research report on Wednesday, June 12th. Telsey Advisory Group reiterated a market perform rating and issued a $27.00 price objective on shares of Foot Locker in a research report on Wednesday, August 21st. Finally, Piper Sandler reiterated a neutral rating and issued a $30.00 price objective on shares of Foot Locker in a research report on Friday, August 23rd. Five research analysts have rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Foot Locker presently has an average rating of Hold and a consensus price target of $25.93.

Foot Locker Stock Up 0.1 %

NYSE FL opened at $32.81 on Wednesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.68 and a quick ratio of 0.50. Foot Locker has a 1 year low of $16.68 and a 1 year high of $35.60. The business’s 50-day moving average is $27.39 and its 200 day moving average is $26.16.

Foot Locker (NYSE:FL) last posted its earnings results on Thursday, May 30th. The athletic footwear retailer reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.10. The company had revenue of $1.87 billion for the quarter, compared to analysts’ expectations of $1.88 billion. Foot Locker had a positive return on equity of 2.91% and a negative net margin of 4.41%. Foot Locker’s quarterly revenue was down 2.8% on a year-over-year basis. During the same period last year, the firm earned $0.70 earnings per share. As a group, sell-side analysts anticipate that Foot Locker will post 1.51 EPS for the current fiscal year.

Insider Buying and Selling at Foot Locker

In other Foot Locker news, major shareholder Vesa Equity Investment S.A R.L sold 539,180 shares of Foot Locker stock in a transaction that occurred on Monday, August 26th. The stock was 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 approximately $345,275,126.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last three months, insiders have sold 787,566 shares of company stock valued at $26,090,866. 1.20% of the stock is currently owned by corporate 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.