Foot Locker (NYSE:FL) Posts Quarterly Earnings Results, Meets Expectations

Foot Locker (NYSE:FL - Get Free Report) posted its quarterly earnings results on Thursday. The athletic footwear retailer reported ($0.07) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.07), Briefing.com reports. The company had revenue of $1.79 billion for the quarter, compared to analysts' expectations of $1.86 billion. Foot Locker had a positive return on equity of 2.91% and a negative net margin of 5.24%. The firm's revenue was down 4.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.22 earnings per share.

Foot Locker Stock Down 0.7%

Foot Locker stock traded down $0.16 during mid-day trading on Friday, hitting $23.77. 4,231,823 shares of the company's stock were exchanged, compared to its average volume of 3,955,875. The company has a current ratio of 1.67, a quick ratio of 0.45 and a debt-to-equity ratio of 0.15. The stock has a market cap of $2.26 billion, a P/E ratio of -5.27, a P/E/G ratio of 0.53 and a beta of 1.42. Foot Locker has a 1-year low of $11.00 and a 1-year high of $33.94. The stock has a 50 day moving average of $15.30 and a two-hundred day moving average of $18.62.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on FL shares. Gordon Haskett downgraded Foot Locker from a "moderate buy" rating to a "hold" rating in a research note on Thursday, May 15th. Jefferies Financial Group dropped their price target on shares of Foot Locker from $22.00 to $19.00 and set a "hold" rating on the stock in a research note on Wednesday, March 5th. UBS Group reduced their price objective on Foot Locker from $22.00 to $21.00 and set a "neutral" rating for the company in a research report on Thursday, March 6th. Evercore ISI lowered their target price on Foot Locker from $22.00 to $15.00 and set an "outperform" rating on the stock in a research note on Friday, April 11th. Finally, Barclays lowered Foot Locker from an "overweight" rating to an "equal weight" rating in a research report on Thursday. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Foot Locker presently has a consensus rating of "Hold" and an average target price of $21.44.

Institutional Investors Weigh In On Foot Locker

Several hedge funds and other institutional investors have recently made changes to their positions in the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Foot Locker by 14.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 301,304 shares of the athletic footwear retailer's stock valued at $4,248,000 after purchasing an additional 37,838 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of Foot Locker by 4.5% in the first quarter. Goldman Sachs Group Inc. now owns 3,174,832 shares of the athletic footwear retailer's stock valued at $44,765,000 after purchasing an additional 136,836 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Foot Locker by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 49,610 shares of the athletic footwear retailer's stock valued at $700,000 after purchasing an additional 2,148 shares during the last quarter. Finally, Royal Bank of Canada grew its position in shares of Foot Locker by 8.2% in the first quarter. Royal Bank of Canada now owns 60,170 shares of the athletic footwear retailer's stock valued at $848,000 after purchasing an additional 4,574 shares during the last quarter.

About Foot Locker

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.