Foot Locker (NYSE:FL) Releases Quarterly Earnings Results, Hits Estimates

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

Foot Locker Stock Performance

Shares of FL stock traded down $0.04 during trading hours on Monday, reaching $23.73. 2,313,986 shares of the company's stock were exchanged, compared to its average volume of 3,938,711. Foot Locker has a fifty-two week low of $11.00 and a fifty-two week high of $33.94. The company has a quick ratio of 0.45, a current ratio of 1.67 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $2.26 billion, a P/E ratio of -5.26, a P/E/G ratio of 0.53 and a beta of 1.42. The business has a fifty day moving average price of $15.30 and a 200-day moving average price of $18.54.

Wall Street Analyst Weigh In

FL has been the subject of several recent research reports. UBS Group decreased their target price on shares of Foot Locker from $22.00 to $21.00 and set a "neutral" rating for the company in a research report on Thursday, March 6th. Citigroup increased their target price on shares of Foot Locker from $20.00 to $24.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. Evercore ISI reduced their price target on Foot Locker from $22.00 to $15.00 and set an "outperform" rating for the company in a research report on Friday, April 11th. Wall Street Zen downgraded Foot Locker from a "hold" rating to a "sell" rating in a research note on Friday, April 11th. Finally, Telsey Advisory Group reissued a "market perform" rating and issued a $24.00 price objective on shares of Foot Locker in a research note on Friday. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Foot Locker has an average rating of "Hold" and a consensus price target of $21.44.

Hedge Funds Weigh In On Foot Locker

Institutional investors and hedge funds have recently bought and sold shares of the stock. Royal Bank of Canada grew its position in Foot Locker by 8.2% in the 1st quarter. Royal Bank of Canada now owns 60,170 shares of the athletic footwear retailer's stock worth $848,000 after purchasing an additional 4,574 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Foot Locker by 4.5% during 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 buying an additional 2,148 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake 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 buying an additional 136,836 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Foot Locker by 14.4% during 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 worth $4,248,000 after buying an additional 37,838 shares in the last quarter.

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.