Financial Trading Blog
Stock of the day 19/08/2016 – Foot Locker Inc
Having risen to all-time highs last September Foot Locker has fallen into a rather pronounced slump in 2016. Opening at $64.35 (already $10 offer its 2015 peak) the stock had managed to climb to $69.59 by the start of February; however these gains weren’t to last long, and a prolonged decline eventually saw Foot Locker hit a near 2 year nadir of $50.90 at the end of June. Since then it has seen something of a recovery, the company now sitting at a current trading price of $61.67 (IT-Finance.com 19/08/2016).
(Source: IT-Finance.com 19/08/2016)
Back in May Foot Locker found itself on the wrong side of investors with its Q1 results. Normally an estimate-beating crowd-pleaser the company’s first quarter came to be seen as a let-down, with as expected earnings per share of $1.39 and slightly lower than forecast revenue of $1.98 billion sparking a 6.5% plunge for the stock.
In terms of Foot Locker’s Q2 figures, analysts are expecting the company to post earnings per share of 90 cents, compared to 84 cents this time last year, alongside $1.76 billion in revenue, up from $1.7 billion in Q2 2015. Yet if Foot Locker matches those figures, rather than beating them, investors may be a bit disappointed given the company’s ability (the most recent Q1 report excluded) for welcome surprises.
Foot Locker Inc has a consensus rating of ‘Buy’ with an average target price of $72.23.
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