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

Foot Locker (NYSE:FL) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 1.200-1.300 for the period, compared to the consensus earnings per share estimate of 1.530. The company issued revenue guidance of $8.0 billion-$8.1 billion, compared to the consensus revenue estimate of $8.1 billion. Foot Locker also updated its Q4 guidance to $0.70-0.80 EPS.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Evercore ISI cut their price target on shares of Foot Locker from $38.00 to $32.00 and set an “outperform” rating on the stock in a report on Tuesday, November 26th. Needham & Company LLC reissued a “buy” rating and issued a $27.00 target price on shares of Foot Locker in a research note on Wednesday. Gordon Haskett started coverage on Foot Locker in a research report on Monday, October 7th. They set an “accumulate” rating and a $27.00 price target for the company. UBS Group cut their price objective on Foot Locker from $26.00 to $22.00 and set a “neutral” rating on the stock in a research report on Thursday. Finally, JPMorgan Chase & Co. decreased their target price on Foot Locker from $27.00 to $23.00 and set an “underweight” rating for the company in a report on Wednesday. Four analysts have rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $25.71.

Foot Locker Price Performance

FL opened at $21.16 on Friday. The firm has a 50 day moving average price of $24.07 and a 200-day moving average price of $25.84. Foot Locker has a twelve month low of $19.33 and a twelve month high of $35.60. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.67 and a quick ratio of 0.49.

Foot Locker (NYSE:FL) last released its quarterly earnings results on Wednesday, December 4th. The athletic footwear retailer reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.07). The firm had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $2.01 billion. Foot Locker had a positive return on equity of 2.91% and a negative net margin of 5.24%. The business’s quarterly revenue was down 1.4% on a year-over-year basis. During the same quarter last year, the business earned $0.30 earnings per share. As a group, equities research analysts predict that Foot Locker will post 1.52 EPS for the current fiscal year.

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.