Foot Locker Inc. reported net income dropped 35.0 percent in the third quarter. Buckingham Research reissued a buy rating and set a $47.00 target price (down previously from $61.00) on shares of Foot Locker in a research note on Tuesday, August 22nd.
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. The athletic footwear retailer reported $0.87 earnings per share for the quarter, topping analysts' consensus estimates of $0.80 by $0.07.
Excluding one-time items, the company earned $0.87 per share during the three months ended October 28, retreating from a $1.13 per share non-GAAP profit during the same quarter past year but still exceeding the Capital IQ consensus by $0.07 per share. The correct version of this piece of content can be accessed at https://www.dispatchtribunal.com/2017/11/18/foot-locker-inc-fl-given-a-61-00-price-target-at-jefferies-group-llc.html.
"Despite the highly promotional environment we still see in the marketplace, the availability of premium product is gradually improving compared to the first half of the year, and we believe we can achieve, and perhaps modestly exceed, the top- and bottom-line guidance we gave for the fourth quarter back in August", Johnson said.
Dick's Sporting Goods this week said that earnings per share next year could fall as much as 20% as it invests in e-commerce, private brands and in other areas. Foot Locker Inc. has recorded a 50-day average of $34.28 and a two hundred day average of $51.08.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 2nd. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.04%.
Gross margins also declined in the period, to 31.0% percent of sales from 33.9% a year ago. The company has a debt-to-equity ratio of 0.04, a current ratio of 5.63 and a quick ratio of 2.88. The ex-dividend date of this dividend is Thursday, January 18th.
COPYRIGHT VIOLATION WARNING: "Foot Locker, Inc". Foot Locker's payout ratio is now 28.64%.
Foot Locker was not entirely alone when it comes to a better-than-expected quarter. Foot Locker said as part of the new deal, it would be hiring specially trained experts to take on roles such as "Nike Pro Athletes" and "Nike Pro Leads". If you are reading this news story on another site, it was illegally stolen and reposted in violation of United States and global copyright laws. Institutional investors own 95.20% of the company's stock. Highlander Capital Management LLC bought a new stake in Foot Locker in the 3rd quarter valued at about $352,000. Finally, Canada Pension Plan Investment Board boosted its holdings in Foot Locker by 65.3% in the second quarter.
Several hedge funds have recently made changes to their positions in the stock. Vident Investment Advisory LLC now owns 69,782 shares of the athletic footwear retailer's stock valued at $2,457,000 after buying an additional 34,103 shares in the last quarter. The Company operates through two segments: Athletic Stores and Direct-to-Customers.
As with other sports retailers, Hibbett's stock has drifted lower this year amid aggressive promotions and the threat from Amazon, which could also develop its own private-label athletic apparel.