Foot Locker Inc. (NYSE: FL) has reported earnings for its third fiscal quarter (ending October 31) of $0.30 versus $1.02 for the same period a year ago — a decline of -71%. E.P.S. were $0.88 for the latest four quarters through October 31 versus $4.45 for the same period a year ago — a decline of -80%.
Recent Price Action
On 11/29/23, Foot Locker Inc. (NYSE: FL) stock enjoyed a major increase of 16.1%, closing at $27.67. Moreover, trading volume in this advance was exceptionally high at 484% of normal. Relative to the market the stock has been extremely weak over the last nine months but has risen 18.9% during the last week.
Current PriceTarget Research Rating
With future capital returns forecasted to be above the cost of capital, FL is expected to continue to be a modest Value Builder.
Foot Locker has a current Value Trend Rating of C (Low Neutral). With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing very contradictory signals. Foot Locker has a very high Appreciation Score of 90 but a very low Power Rating of 7, leading to the Low Neutral Value Trend Rating.
Rating Review
In light of this new information and very positive price change we are reviewing our current Overall Rating of C. This review will be completed in the next several days.
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