Foot Locker sales miss weighs on sector's stocks

Foot Locker sales miss weighs on sector's stocks

(NYSE:FL) in a research report sent to investors on Tuesday morning. It's down 71 percent this year, and Foot Locker has fallen 52 percent. Additionally Foot Locker, Inc. recently announced a dividend for shareholders which was paid on Friday the 28th of July 2017. The high and low revenue estimates for the current quarter are $2 Billion and $1.89 Billion, respectively. Foot Locker had a net margin of 8.39% and a return on equity of 23.87%. Sports Authority went out of business a year ago, closing all its 460 stores after filing for bankruptcy protection. The dividend was $0.310 per share for the quarter which is $1.24 annualized. The yield on the 10-year Treasury note fell to 2.18%, from 2.19%. Foot Locker's dividend payout ratio is presently 25.36%. TheStreet lowered Foot Locker from a "b-" rating to a "c+" rating in a research report on Friday, June 30th. They set a "market perform" rating on the stock. Deutsche Bank initiated the stock with "Buy" rating in Thursday, September 17 report. "Ultimately, through all this investigation into the company's performance the analyst decides if their stock is a "buy", sell" or hold". The company has a consensus rating of "Buy" and a consensus target price of $71.13.

In other Foot Locker news, Director Jarobin Gilbert, Jr. sold 5,600 shares of Foot Locker stock in a transaction on Wednesday, May 24th.

European shares closed mostly lower today. After this sale, 121,385 common shares of FL are directly owned by the insider, with total stake valued at $5,895,669. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Breaking that down further, it has performed -2.83% for the week, -1.73% for the month, -32.29% over the last quarter, -32.34% for the past half-year and -21.03% for this a year ago.

Tom and David just revealed their ten top stock picks for investors to buy right now. In this case, shares are down -28.2% from $30.74, the 52-week high touched on November 17, 2016, but are collecting gains at -13.08% for the past 12 months.

In early session trading, shares of Foot Locker, Inc. Afam Capital, Inc. owns 19,624 shares worth $967,000. Foot Locker now plans to close at least 135 stores, up from its previous forecast of 100.

Sporting goods retailers are facing increasing competition from department stores and clothing chains, which are beefing up the number of sneakers and athletic wear they sell, said Neil Saunders, a retail analyst at GlobalData.

Year-to-date sales were 3,702 million dollars, a decrease of 1.7 percent compared to sales of 3,767 million dollars in the corresponding six-month period of 2016. As of the end of the quarter Advisory Services Network, LLC had acquired 632 shares growing its holdings by 13.1%. Institutional investors and hedge funds own 93.49% of the company's stock.

The P/E ratio is now 7.20 and the market cap is 4.61B.

Death Cross Alert: The 50 day moving average is now below the 200 day moving average. Omega Advisors Inc. bought a new position in Foot Locker during the first quarter valued at approximately $11,222,000. "(FL) on Weakness After Earnings Miss" was first reported by Week Herald and is owned by of Week Herald. If you are reading this piece of content on another website, it was illegally stolen and republished in violation of US & worldwide trademark and copyright law.

While some industry experts said that Foot Locker's weak results were indicative that the sneaker sector is losing momentum, Neil Saunders, managing director of GlobalData Retail, commented that while overall consumer demand for sneakers was a little soft during the quarter, it did not fall by anywhere near the level of Foot Locker's decline. The Firm operates through two divisions: Athletic Stores and Direct-to-Customers. In addition, 68 franchised Foot Locker stores were operating in the Middle East, as well as 14 franchised Runners Point stores in Germany.