On November 21, 2023, Foot Locker (NYSE: FL) experienced a downgrade from Buy to Neutral by BTIG analyst Janine Stichter, who maintained the price target of $27 per share. This alteration in recommendation was primarily based on the anticipation that the company’s recovery process may unfold at a more measured pace. Additionally, the recent surge in share prices, coupled with prevailing macroeconomic challenges and intensifying competition, were significant factors influencing this decision.
Foot Locker, Inc.
FL
Buy
Updated on: 04/12/2023
Financial Health
Healthy
Debt to equity ratio: Buy
Price to earnings ratio: Buy
Price to book ratio: Strong Buy
DCF: Strong Buy
ROE: Neutral
Foot Locker Inc. Stock Performance and Financial Analysis: November 21, 2023
On November 21, 2023, Foot Locker Inc. (FL) experienced a decline in its stock performance. The stock opened at $22.85, lower than the previous day’s close of $23.27. Throughout the day, the stock fluctuated within a range of $22.55 to $23.23. The trading volume stood at 1,087,783 shares, which is significantly lower than the three-month average volume of 4,665,188 shares. The market capitalization of Foot Locker Inc. is currently valued at $2.0 billion.
When analyzing the company’s financial performance, it is important to consider its earnings growth. Foot Locker Inc. has witnessed a decline in earnings growth over the past year, with a decrease of 58.37%. This trend continues into the current year, as the company’s earnings growth is down by 58.84%. Looking ahead, analysts forecast a negative earnings growth rate of -15.39% over the next five years.
In terms of revenue growth, Foot Locker Inc. experienced a decline of 2.22% in the past year. This decrease in revenue could be a result of various factors, such as changing consumer preferences or increased competition in the apparel/footwear retail industry. The company’s price-to-earnings (P/E) ratio stands at 14.3, indicating that investors are willing to pay 14.3 times the company’s earnings per share (EPS) for its stock.
When comparing Foot Locker Inc. to its competitors in the retail trade sector, we see mixed performances. Boot Barn Holdings Inc. (BOOT) witnessed a slight increase of 1.30% in its stock price, while Caleres Inc. (CAL) experienced a significant surge of 12.05%. On the other hand, Shoe Carnival Inc. (SCVL) saw a modest increase of 0.89%, and Designer Brands Inc. (DBI) had a slight gain of 1.80%.
Looking ahead, investors should keep an eye on Foot Locker Inc.’s next reporting date, which is scheduled for November 29, 2023. Analysts are forecasting an EPS of $0.63 for this quarter. The net profit margin for Foot Locker Inc. stands at 3.94%.
Foot Locker Inc. operates in the retail trade sector, specifically in the apparel/footwear retail industry. The company’s corporate headquarters are located in New York, New York. Unfortunately, no executives were available for display at this time.
In conclusion, Foot Locker Inc.’s stock performance on November 21, 2023, showed a decline compared to the previous day’s close. The company’s earnings growth has been negative over the past year and is expected to continue on a downward trend in the coming years. With a decrease in revenue growth, Foot Locker Inc. faces challenges in the competitive apparel/footwear retail industry. Investors should closely monitor the company’s next reporting date and consider these factors when making investment decisions.
FL Stock Performance on November 21, 2023: Analysts Predict a Decrease in Foot Locker Incs Price
FL stock performances on November 21, 2023 have been a topic of interest for investors and analysts. According to data from CNN Money, the 17 analysts offering 12-month price forecasts for Foot Locker Inc have a median target of $18.00. The high estimate is $27.00, while the low estimate is $11.00.
The median estimate of $18.00 represents a -21.43% decrease from the last price of $22.91. This suggests that analysts are generally pessimistic about the stock’s prospects in the near term.
The current consensus among 21 polled investment analysts is to hold stock in Foot Locker Inc. This rating has remained unchanged since November.
In terms of financial performance, Foot Locker Inc reported earnings per share of $0.63 for the current quarter. Sales for the same period were $2.0 billion.
Investors and analysts will be eagerly awaiting the company’s upcoming reporting date on November 29. This will provide further information on Foot Locker Inc’s financial health and may influence future price forecasts and investment recommendations.
It is important for investors to exercise caution when interpreting stock performance data and forecasts. While they can provide valuable insights, they are not guarantees of future results. It is advisable to conduct thorough research and consult with a financial advisor before making any investment decisions.
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