Foot Locker shares surge the most in 40 years after earnings beat

Retailers rise again but tech leads other US stocks lower- Vincent Napolitano

Retailers rise again but tech leads other US stocks lower- Vincent Napolitano

In the latest earnings report the EPS was $4.33 with 124.00M shares now outstanding. (NYSE:FL) traded 0.86% higher on the day.

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 EPS for the quarter, topping the Thomson Reuters' consensus estimate of $0.80 by $0.07. Excluding charges, Foot Locker earned adjusted earnings of $.87 per share, more than analysts had expected. Jefferies Group LLC reissued a buy rating and set a $80.00 price objective on shares of Foot Locker in a report on Thursday, August 3rd.

The company said revenue for the quarter fell 1.1% to $1.87 billion.

When it reported second-quarter results on August 18, Foot Locker lowered its expectations for the year given the challenges in the marketplace.

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Net income for the Company's third quarter ended October 28, 2017 was $102 million, or $0.81 per share, compared with net income of $157 million, or $1.17 per share in the same period of 2016.

The company 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 yield of 3.04%. Raises FY17 sales forecast to $1.02 billion to $1.025 billion, up from prior view expecting $1.006 billion to $1.019 billion and beating $1.01 billion analyst consensus. 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 is Thursday, January 18th.

COPYRIGHT VIOLATION WARNING: This article was posted by TrueBlueTribune and is owned by of TrueBlueTribune. Foot Locker's dividend payout ratio (DPR) is presently 28.64%. Highlander Capital Management LLC bought a new position in shares of Foot Locker during the 3rd quarter worth approximately $352,000.

But U.S. News warned that over the next few years, Foot Locker "will have to do something truly magical to actually grow". If you are viewing this article on another website, it was illegally stolen and republished in violation of United States and worldwide copyright & trademark law. Cubist Systematic Strategies LLC now owns 51,637 shares of the athletic footwear retailer's stock worth $1,819,000 after buying an additional 3,981 shares in the last quarter. Koch Industries Inc. purchased a new stake in Foot Locker in the second quarter valued at $720,000. Canada Pension Plan Investment Board now owns 1,819,210 shares of the athletic footwear retailer's stock worth $89,651,000 after purchasing an additional 718,800 shares during the period. Finally, Vident Investment Advisory LLC boosted its holdings in shares of Foot Locker by 95.6% during the 3rd quarter. Honkamp Krueger Financial Services Inc. now owns 14,090 shares of the athletic footwear retailer's stock worth $694,000 after purchasing an additional 61 shares in the last quarter. The company operates in two business segments, the Global Athletic Group and the Northern Group. The Company is an athletic footwear and apparel retailer, which include businesses, such as include Foot Locker, Kids Foot Locker, Lady Foot Locker, Champs Sports, Footaction, Runners Point, Sidestep and SIX:02.

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