"We look for an improvement in traffic and more top-line consistency to become more positive", Jefferies analyst Randal Konik said, referring to Shoe Carnival. Morgan Stanley reissued an "overweight" rating and issued a $50.00 price objective (down previously from $65.00) on shares of Foot Locker in a research note on Tuesday, August 29th. It fall, as 100 investors sold Foot Locker, Inc. shares while 161 reduced holdings. Finally, Credit Suisse Group reaffirmed a neutral rating and issued a $52.00 target price (down from $66.00) on shares of Foot Locker in a report on Tuesday, August 1st. Two research analysts have rated the stock with a sell recommendation, sixteen have assigned a hold recommendation and eleven have given a buy recommendation to the company. $60.80's average target is 57.59% above currents $38.58 stock price.
Foot Locker (NYSE FL) traded up $0.36 during midday trading on Wednesday, hitting $30.00. Foot Locker, Inc. (NYSE:FL) has a 20-Day average volume of 3.64 Million.
Foot Locker, Inc. (NYSE:FL) gross margin percentage stands at 32.9% while its operating margin for the past trailing twelve month is 11 percent and its overall profit margin (ttm) is 7.5 Percent.
Foot Locker Q3 Earnings Top Wall Street Targets
The company now has an insider ownership of 0.2 Percent and Institutional ownership of 99.3 Percent. The stock has a market capitalization of $3,930.00, a P/E ratio of 6.70, a PEG ratio of 2.09 and a beta of 0.66.
Foot Locker's quest to regain momentum got a boost in the third quarter as the chain reported better than expected revenue and earnings. The athletic footwear retailer reported $0.87 earnings per share for the quarter, topping the consensusestimate of $0.80 by $0.07.
The company said revenue for the quarter fell 1.1% to $1.87 billion. Exane Derivatives now owns 4,423 shares of the athletic footwear retailer's stock worth $156,000 after buying an additional 4,419 shares during the last quarter.
Net income totaled $102 million, or $0.81 per share, for the quarter ended October 28, compared with $157 million, or $1.17 per share in the year-ago period.
A woman shops inside a Foot Locker store in New York, May 28, 2010. "(FL) Given New $36.00 Price Target at Canaccord Genuity" was first reported by TrueBlueTribune and is the sole property of of TrueBlueTribune. If you are viewing this story on another site, it was copied illegally and reposted in violation of US and global trademark & copyright laws. Foot Locker, Inc. (NYSE:FL) has risen 0.29% since November 17, 2016 and is uptrending.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 2nd. Stockholders of record on Friday, January 19th will be paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 3.97%. The company's quarterly revenue was down 4.4% compared to the same quarter a year ago. Rockefeller Financial Services Inc. purchased a new stake in Foot Locker in the third quarter valued at $42,618,000. Cubist Systematic Strategies LLC raised its position in shares of Foot Locker by 8.4% in the third quarter.
"With the disruption we are witnessing in retail in general and the athletic industry more specifically, we will have to make many critical decisions as we shape our future", said Foot Locker Chairman and CEO Richard Johnson during Friday's earnings call. The Company's Athletic Stores segment is an athletic footwear and apparel retailer whose formats include Foot Locker, Lady Foot Locker, Kids Foot Locker, Champs Sports, Footaction, SIX:02, Runners Point Group, including Runners Point and Sidestep.
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