Foot Locker Likely To Sharp Decline In Q3 Earnings; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call
Portfolio Pulse from Lisa Levin
Foot Locker, Inc. (NYSE:FL) is expected to report a significant drop in Q3 earnings with an estimate of 25 cents per share compared to $1.27 per share a year ago. Revenue is projected at $1.97 billion. The company recently entered a multiyear partnership with the NBA. Ahead of the earnings call, several analysts have downgraded FL's stock with lower price targets, citing concerns over its performance. Shares of Foot Locker rose 3.2% to close at $23.84 on Tuesday.
November 29, 2023 | 6:46 am
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Foot Locker is anticipated to report lower Q3 earnings and has been downgraded by several analysts with lower price targets. The company's recent partnership with the NBA may not offset the negative sentiment.
The consensus among analysts suggests a bearish outlook for Foot Locker's Q3 earnings, with multiple downgrades and reduced price targets indicating a negative short-term impact on the stock price. The recent partnership with the NBA is positive but may not be sufficient to counteract the expected earnings decline and negative analyst sentiment.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100