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 (EPS) guidance of 1.200-1.300 for the period, compared to the consensus 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.

Foot Locker Stock Performance

NYSE:FL opened at $24.17 on Wednesday. Foot Locker has a 1 year low of $20.47 and a 1 year high of $35.60. The firm has a 50 day moving average of $24.15 and a 200-day moving average of $25.87. The company has a current ratio of 1.66, a quick ratio of 0.49 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $2.29 billion, a P/E ratio of -6.25, a price-to-earnings-growth ratio of 0.74 and a beta of 1.46.

Foot Locker (NYSE:FL) last posted its 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). Foot Locker had a negative net margin of 4.48% and a positive return on equity of 2.73%. The firm had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $2.01 billion. During the same quarter last year, the firm posted $0.30 EPS. The business’s revenue was down 1.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Foot Locker will post 1.48 EPS for the current fiscal year.

Analysts Set New Price Targets

FL has been the subject of a number of research analyst reports. Williams Trading upgraded shares of Foot Locker from a “sell” rating to a “hold” rating and lifted their target price for the company from $17.00 to $21.00 in a research note on Wednesday, November 27th. Gordon Haskett started coverage on shares of Foot Locker in a report on Monday, October 7th. They issued an “accumulate” rating and a $27.00 price target for the company. StockNews.com lowered shares of Foot Locker from a “hold” rating to a “sell” rating in a report on Friday, September 20th. Evercore ISI lowered their price target on shares of Foot Locker from $38.00 to $32.00 and set an “outperform” rating for the company in a report on Tuesday, November 26th. Finally, Piper Sandler lowered their target price on shares of Foot Locker from $30.00 to $28.00 and set a “neutral” rating for the company in a report on Monday. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Foot Locker has an average rating of “Hold” and an average target price of $26.87.

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.