Foot Locker (NYSE:FL) Updates FY 2024 Earnings Guidance

Foot Locker (NYSE:FL) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 1.200-1.300 for the period, compared to the consensus estimate of 1.530. The company issued revenue guidance of $8.0 billion-$8.1 billion, compared to the consensus revenue estimate of $8.1 billion. Foot Locker also updated its Q4 2024 guidance to 0.700-0.800 EPS.

Foot Locker Trading Down 3.9 %

Shares of Foot Locker stock opened at $24.17 on Wednesday. The company has a quick ratio of 0.49, a current ratio of 1.66 and a debt-to-equity ratio of 0.15. Foot Locker has a 1-year low of $20.47 and a 1-year high of $35.60. The business’s fifty day moving average price is $24.22 and its two-hundred day moving average price is $25.85.

Wall Street Analysts Forecast Growth

FL has been the topic of several recent research reports. Needham & Company LLC initiated coverage on Foot Locker in a research report on Friday, November 22nd. They issued a “buy” rating and a $27.00 price target for the company. Robert W. Baird lowered their price target on Foot Locker from $35.00 to $27.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 25th. Gordon Haskett began coverage on Foot Locker in a report on Monday, October 7th. They set an “accumulate” rating and a $27.00 price objective on the stock. Barclays upgraded Foot Locker from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $27.00 to $34.00 in a research note on Thursday, August 29th. Finally, Citigroup increased their price objective on shares of Foot Locker from $27.00 to $33.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $26.87.

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.