Foot Locker, Inc. (NYSE:FL) Declares Quarterly Dividend of $0.38

Foot Locker, Inc. (NYSE:FL) announced a quarterly dividend on Tuesday, November 19th, Zacks reports. Investors of record on Friday, January 17th will be given a dividend of 0.38 per share by the athletic footwear retailer on Friday, January 31st. This represents a $1.52 annualized dividend and a yield of 3.91%. The ex-dividend date of this dividend is Thursday, January 16th.

Foot Locker has raised its dividend by an average of 0.1% per year over the last three years and has raised its dividend every year for the last 8 years. Foot Locker has a dividend payout ratio of 30.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Foot Locker to earn $5.28 per share next year, which means the company should continue to be able to cover its $1.52 annual dividend with an expected future payout ratio of 28.8%.

NYSE:FL opened at $38.91 on Tuesday. The firm’s 50 day simple moving average is $39.28 and its 200 day simple moving average is $40.96. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.90 and a quick ratio of 0.84. Foot Locker has a one year low of $33.12 and a one year high of $68.00. The company has a market cap of $4.09 billion, a PE ratio of 8.26, a P/E/G ratio of 0.89 and a beta of 0.92.

Foot Locker (NYSE:FL) last issued its quarterly earnings results on Friday, November 22nd. The athletic footwear retailer reported $1.13 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.07 by $0.06. The firm had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.94 billion. Foot Locker had a net margin of 6.39% and a return on equity of 21.66%. The company’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.95 EPS. Equities research analysts expect that Foot Locker will post 4.92 EPS for the current year.

A number of research analysts have recently issued reports on FL shares. Standpoint Research upgraded shares of Foot Locker from a “hold” rating to a “buy” rating in a research report on Monday, December 23rd. Morgan Stanley boosted their price target on shares of Foot Locker from $40.00 to $43.00 and gave the stock an “equal weight” rating in a research report on Monday, November 25th. Pivotal Research restated a “buy” rating and issued a $54.00 price target on shares of Foot Locker in a research report on Monday, November 25th. Raymond James dropped their price target on shares of Foot Locker from $70.00 to $65.00 and set an “outperform” rating on the stock in a research report on Monday, November 25th. Finally, Guggenheim restated a “buy” rating and issued a $45.00 price target on shares of Foot Locker in a research report on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $54.30.

About Foot Locker

Foot Locker, Inc, through its subsidiaries, operates as an athletic shoes and apparel retailer. The company operates in two segments, Athletic Stores and Direct-to-Customers. The Athletic Stores segment retails athletic footwear, apparel, accessories, and equipment under various formats, including Foot Locker, Kids Foot Locker, Lady Foot Locker, Champs Sports, Footaction, Runners Point, Sidestep, and SIX:02.

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Dividend History for Foot Locker (NYSE:FL)

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