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Foot Locker (FL) closed on the most recent trading day at $ 60.34, or -1.52% from the previous trading session. This move fell behind the S&P 500’s 0.12% daily gain.
As of today, shares of the shoe store had gained 0.62% over the past month. At the same time, the Retail-Wholesale sector gained 1.33%, while the S&P 500 gained 3%.
Investors are hoping for strength from FL as its next earnings release nears. In this report, analysts expect FL to post earnings of $ 1.03 per share. This would mark year-over-year growth of 45.07%. Meanwhile, our latest consensus estimate projects revenue of $ 1.97 billion, down 5.08% from the previous year’s quarter.
For the full year, our consensus estimates from Zacks suggest analysts expect earnings of $ 5.66 per share and revenue of $ 8.4 billion. These totals would mark changes of + 101.42% and + 11.23%, respectively, from a year ago.
It’s also important to note the recent changes to analyst estimates for FL. These revisions help show the ever-changing nature of short-term business trends. Thus, the positive estimate revisions reflect the optimism of analysts about the business and profitability of the company.
Research indicates that these estimate revisions are directly correlated with short-term stock price dynamics. We have developed the Zacks Rank to capitalize on this phenomenon. Our system takes these rating changes into account and provides a clear and actionable scoring model.
Ranging from # 1 (strong buy) to # 5 (strong sell), the Zacks Rank system has a proven and externally verified track record of outperformance, with # 1 stocks returning an average of + 25% per year since 1988. The Zacks Consensus EPS estimate rose 1.81% over the past month. FL currently sports a Zacks rank of # 1 (strong buy).
Looking at its valuation, FL holds a forward P / E ratio of 10.83. This represents a discount to its industry’s average forward P / E of 17.38.
Additionally, it should be mentioned that FL has a PEG ratio of 2.71. This popular metric is similar to the well-known P / E ratio, except that the PEG ratio also takes into account the expected rate of earnings growth of the company. The FL industry had an average PEG ratio of 1.35 at yesterday’s close.
The Retail Trade – Clothing and Footwear industry is part of the Retail-Wholesale industry. This group has a Zacks Industry Rank of 21, placing it in the top 9% of all 250+ industries.
The Zacks Industry Rank measures the strength of our industry groups by measuring the average Zacks Rank of individual stocks within groups. Our research shows that the top 50% of industries top the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and more, at Zacks.com.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
