Foot Locker (NYSE:FL) Issues 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.

Wall Street Analysts Forecast Growth

FL has been the subject of a number of recent analyst reports. Evercore ISI lifted their price objective on Foot Locker from $34.00 to $38.00 and gave the company an outperform rating in a research report on Monday. Piper Sandler restated a neutral rating and issued a $30.00 price target on shares of Foot Locker in a report on Friday, August 23rd. Telsey Advisory Group reaffirmed a market perform rating and set a $27.00 price objective on shares of Foot Locker in a research note on Wednesday. StockNews.com cut shares of Foot Locker from a hold rating to a sell rating in a research report on Wednesday, June 19th. Finally, Wedbush restated a neutral rating and issued a $25.00 target price on shares of Foot Locker in a report on Wednesday, June 12th. Five investment analysts have rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus target price of $26.40.

Foot Locker Stock Up 6.3 %

Shares of NYSE:FL opened at $31.30 on Friday. The firm has a market cap of $2.96 billion, a PE ratio of -8.26, a price-to-earnings-growth ratio of 0.80 and a beta of 1.46. The company has a fifty day simple moving average of $27.59 and a 200 day simple moving average of $26.22. 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.

Foot Locker (NYSE:FL) last issued its earnings results on Wednesday, August 28th. The athletic footwear retailer reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.03. The business 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%. On average, equities research analysts anticipate that Foot Locker will post 1.51 EPS for the current fiscal year.

Insider Transactions at Foot Locker

In other Foot Locker news, major shareholder Vesa Equity Investment S.A R.L sold 1,500 shares of the business’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $32.90, for a total transaction of $49,350.00. Following the completion of the sale, the insider now owns 11,402,353 shares in the company, valued at $375,137,413.70. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In the last quarter, insiders sold 787,566 shares of company stock worth $26,090,866. 1.20% of the stock is currently owned by corporate insiders.

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.