Foot Locker Crashes After Earnings

Foot Locker Crashes After Earnings

A gap is a space between prices that occurs when the price of a stock makes a move down or up when there is no trading happening in between. Wedbush's price objective points to a potential upside of 17.81% from the company's previous close. Canaccord Genuity increased their price objective on shares of Foot Locker from $83.00 to $87.00 and gave the stock a "buy" rating in a research note on Wednesday, February 22nd. Jefferies Group LLC restated a "buy" rating and set a $88.00 price objective on shares of Foot Locker in a report on Friday, April 21st.

Since Foot Locker's cash flows have been trending up (along with earnings), and due to the fact that the company holds a big net cash position, I believe investors will continue to receive attractive shareholder returns from the company, in the form of dividends as well as by stock buybacks.

Recent Trading for Foot Locker, Inc. HighTower Advisors LLC boosted its position in shares of Foot Locker by 52.8% in the first quarter. It seems that the stock might see strength given an ABR of 1.9 or Buy rating. Foot Locker has an average rating of "Buy" and an average price target of $80.91. The firm has a 50 day moving average of $74.49 and a 200 day moving average of $72.82. The company has a market capitalization of $7.88 billion, a price-to-earnings ratio of 12.22 and a beta of 0.57.

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Before Friday's market open, the shoe and athletic apparel retailer reported first-quarter earnings of $1.36 cents a share on revenue of $2 billion, compared to the earnings of $1.38 a share on revenue of $2.02 billion analysts surveyed at Factset expected. The firm had revenue of $2 billion during the quarter, compared to analyst estimates of $2.02 billion.

Foot Locker's revenues were further affected by currency rates, adjusting for this forex impact gets us to a revenue increase (as well as comps sales increase) of 1.8% - this looks like a very strong showing in an industry that is reporting comp sales declines in many cases [with the Amazon (NASDAQ:AMZN) effect being a main reason]. 2770873 shares were traded on Foot Locker, Inc.'s last session. Investors of record on Friday, July 14th will be given a dividend of $0.31 per share. The ex-dividend date was Tuesday, April 11th. This represents a $1.24 dividend on an annualized basis and a yield of 1.76%.

Foot Locker, which has a global footprint of more than 3,350 stores and brands such as Champs Sports and Runners Point, said total profits were $180m in the quarter, down more than 5%. News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Foot Locker, Inc. with MarketBeat.com's FREE daily email newsletter. "(FL) Rating Reiterated by Wedbush" was originally posted by Chaffey Breeze and is the sole property of of Chaffey Breeze.

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