Foot Locker tanks 16% on weak earnings as sneaker sales lag

FL Average Diluted Shares Outstanding Chart

Canaccord Genuity restated a "buy" rating and set a $83.00 price objective on shares of Foot Locker in a report on Monday, January 23rd.

Several other brokerages have also issued reports on FL. Deutsche Bank AG reiterated a "buy" rating and issued a $81.00 price objective (up previously from $76.00) on shares of Foot Locker in a research note on Wednesday, February 22nd. The stock of Foot Locker, Inc. Finally, B. Riley reissued a "buy" rating and issued a $79.00 price target on shares of Foot Locker in a research note on Tuesday, February 21st. Analysts, on average, seem bullish as they suggest FL is worth $12.5 more, giving a target price of $82.95/share.

Foot Locker was the biggest decliner in the Standard & Poor's 500 Index Friday. Volume in the last session has increased compared with the stock's average trading volume. Yet shares of the company have fallen precipitously in today's pre-market, down 13.8% ahead of the bell.

Technology and energy companies rose more than the rest of the market. Its share has rallied by 16.64% in percentage terms since the start of the year - and added 12.01% in the last month. The company has a 50 day moving average of $74.49 and a 200-day moving average of $72.82.

The New York-based company said it had net income of $1.36 per share. The firm had revenue of $2 billion during the quarter, compared to analysts' expectations of $2.02 billion. This should help Foot Locker's margins and be good for consumers, he reasoned. The business's quarterly revenue was up.7% on a year-over-year basis.

FL Free Cash Flow (<a href
Foot Locker tanks 16% on weak earnings as sneaker sales lag

Beta is also an important valuation ratio for analyzing the stock of the company, FL has Beta of 0.67 while its industry and Sector's beta remains at 1.48 and 1.33 respectively. Institutional investors and hedge funds own 95.30% of the company's stock. In contrast to the year ago, quarter EPS was at 1.22. Finally, Gareth Morgan Investments Limited Partnership boosted its position in shares of Foot Locker by 4.3% in the first quarter.

As of writing, Foot Locker, Inc. Finally, Aviance Capital Partners LLC raised its position in shares of Foot Locker by 0.3% in the third quarter.

Some other technicals to consider would be the moving averages of the company.

On 12/5/2016 Paulette Alviti, SVP sold 10,000 with an average share price of $75.32 per share and the total transaction amounting to $753,200.00. Following the completion of the transaction, the senior vice president now directly owns 36,641 shares of the company's stock, valued at $2,729,754.50. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. And the values below 20 that it is oversold indicate prices could very well bounce upwards.

Related News:

  • Police chief shot in upstate NY; suspect barricaded, cops say

    Police chief shot in upstate NY; suspect barricaded, cops say

    The village of Maybrook is mostly in the town of Montgomery and partly in the town of Hamptonburgh, south of Interstate 84. Police have not revealed whether Bostick was shot by an officer, or if his death was caused by a self inflicted injury.

    New Miss USA to be crowned in Las Vegas

    However, at the 2017 pageant, Miss District of Columbia made a decision to rock her natural curls, and it landed her the crown. Five of the contestants vying for the Miss USA title this year were born in other countries and now US citizens.
    China's Xi says Belt and Road needs to reject protectionism

    China's Xi says Belt and Road needs to reject protectionism

    In the second session of round table conference the leaders will discuss "Connectivity cooperation for inter connected development".
  • Ransomware attack should be wake-up call for govts

    The White House held emergency meetings Friday and Saturday to assess the global cyber threat, a White House official said Sunday. As for anonymous bitcoin transactions, he said, it is sometimes possible to follow them until an identifiable person is found.
    Kremlin says reports Trump disclosed intelligence are 'nonsense'

    Kremlin says reports Trump disclosed intelligence are 'nonsense'

    He tweeted that he wanted to share with Russian Federation "facts pertaining to terrorism and airline flight safety". Last week, White House spokespeople stepped forward to explain the circumstances under with FBI Director James B.
    Browns To Sign Veteran CB Jason McCourty

    Browns To Sign Veteran CB Jason McCourty

    Cornerback Jason McCourty signed with the Cleveland Browns, his agent Andy Simms tweeted Tuesday. He had played in all but one game the previous four seasons.
  • Some Lead Tests Produce Too-Low Results

    Some Lead Tests Produce Too-Low Results

    They added that now pregnant women and nursing mothers who had a venous blood draw with this system should also be re-tested. The most common method of testing lead levels in the blood is done by pricking heels and fingers instead of veins.
    Father of singers Nick and Aaron Carter dead

    Father of singers Nick and Aaron Carter dead

    Son Aaron, 29, tweeted on Tuesday night that Bob had been found unconscious, but deleted the tweet not long after. Aaron Carter shared a photo of himself with his father shortly after the news of his death broke.
    Ankle sprain will keep Leonard out of Game 2

    Ankle sprain will keep Leonard out of Game 2

    Warriors Game 2 live steam as well as all other games in the 2017 NBA Playoffs by signing up with a one-time payment of $9.99. Brown escaped the long arm of the law this time and was free to coach the Warriors in Game 2 in Steve Kerr's absence.
  • Rex's bone-shattering bite was much worse than its bark

    Rex's bone-shattering bite was much worse than its bark

    They based the T. rex model on a computed tomography (CT) scan from a scaled replica of one of the best-preserved skulls. They can swallow bones if they are not too large, but are unable to crush them with their teeth.
    North Korea: US and South Korea tried to assassinate Kim Jong Un

    North Korea: US and South Korea tried to assassinate Kim Jong Un

    Such moves would be a step toward the country's goal of developing nuclear-armed missiles capable of reaching the USA mainland. US and South Korean intelligence agencies have allegedly attempted to assassinate Kim Jong Un, North Korean state media report.
    Former official says she warned White House about Flynn

    Former official says she warned White House about Flynn

    Commenting on this conversation on Fox news, President Donald Trump blamed the Obama administration for not vetting Flynn. Pence vouched for Flynn in television interviews, using information he's said came from the national security adviser.


Most liked

Congress seeks Comey testimony as Russian Federation turmoil engulfs Trump
Ryan also insisted the Trump controversies were not paralysing Republican legislative efforts in Congress. Israeli intelligence experts are gravely concerned that U.S.

Pain Teases Long-Awaited 'T-Wayne' Project With Lil Wayne
This project is a time capsule of a bygone era but doesn't hint at any new solo projects from the respective artists. Check out T-Pain's tease of the (hopefully) upcoming T-Wayne project and its cover art below.

Turkey ready to wage more campaigns like Euphrates Shield, Erdogan says
Differences over Syria policy have caused friction with Washington, a North Atlantic Treaty Organisation ally of Turkey's . Turkey is not a country that will consent to such treatment", Erdogan said in a speech to business leaders in Istanbul.

Sheffield Wednesday and Huddersfield Town clash for place at Wembley
We've done it before and that should help us. "If we get to the final, he will be OK, absolutely sure". When the work of a season comes down to two matches, there will always be huge pressure.

This Avril Lavigne conspiracy theory just won't die down
Vandella was reportedly recruited prior to pose as the Canadian singer for paparazzi, the theory continues. One user pointed out: " Avril Lavigne would never promote a Slim Secret bar".

Home Depot's quarterly profit jumps 12 percent
Among 22 analysts covering The Home Depot Inc . (NYSE:HD) is getting prepared to post earnings results on 5/16/2017 8:30:00 AM. EPS growth in next year is estimated to reach 12.81% while EPS growth estimate for this year is set at 18.00%.

Trump to deliver commencement address at Liberty University
President Trump also imparted some conventional commencement speech rhetoric, such as embarking on an adventure and the like. Rogers was endorsed by the FBI Agents Association, which said his diverse background makes him the best choice for the job.

Meghan Markle attends polo match featuring Prince Harry
Royal watchers were not horsing around when Prince Harry's girlfriend showed up to watch him compete in a charity polo match. We know, finally! Fans should expect another spotting veryyyy soon, as Markle is set to attend Pippa Middleton's wedding .

JPMorgan buys Dublin building with room for 1000 staff
Dublin is among the locations being considered by JP Morgan for an enlarged European Union hub following the Brexit vote. The US bank now employs 500 people in the Dublin.

Sorry, paparazzi, celebs now get private treatment at LAX
Access to the Private Suite is available for a fee of $3500 ($5084) for each domestic flight or $4000 for each global flight. Travelers are reminded to ask for help if they have problems finding their flights.

Ford to cut global workforce by 10%
Fields's three-year tenure, and the company's market value has slipped far behind those of Tesla Inc. and General Motors Co. Ford's global headcount sits at some 200,000 employees, so 10 percent comes out to about 20,000 potentially lost jobs.

Coast Guard searching for missing plane with four people on board
A Coast Guard cutter was dispatched to the area and was expected to arrive later Tuesday to assist with the search. On the plane were New Yorkers Jennifer Blumin and Nathan Ulrich, along with Blumin's sons, age 4 and 10.

'Dr Phil' to air 2nd interview with Hernandez's fiancee
After the suicide, rumors came out that Hernandez had a lover in jail. "That's not the Aaron I know", she said. Phil ", something that could reveal more insights on the Aaron Hernandez case at 12:00 p.m. via Network Ten.

Concussion spotter couldn't pull Crosby for hitting boards
The Capitals appeared on the verge of another exit at the hands of the Penguins going into the third period of Game 5 . One of those visible signs is "slow to get up". "Ice" as compared to "boards" is in there for a reason.

Former French PM Manuel Valls pledges allegiance to Emmanuel Macron's movement
The right-wing Republicans party is seeking to win enough seats in parliament to force Macron into a power-sharing deal. The rest will be from the centrist Modem party or rebels from the Socialists and right-wing Republicans.