The CEO of Dick’s Sporting Goods said strong back-to-school sales couldn’t help his company recover from a slowdown in consumer spending in the third quarter. This was up from $49.21 million, or $0.41 per share, in last year’s third quarter. On average, analysts anticipate that Dicks Sporting Goods Inc will post $3.19 EPS for the current year.
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Dick’s now predicts that fourth-quarter adjusted earnings per share will be $US1.10 to $US1.25, below analyst expectations of $US1.42. Third-quarter results also compare to the Thomson Reuters consensus estimates for EPS of $0.47 and $1.64 billion in revenue.
Dicks Sporting Goods (NYSE:DKS) traded down 1.00% during midday trading on Thursday, reaching $40.76.
The company shares have dropped 13.34% in the past 52 Weeks. The stock’s 50 day moving average is $46.67 and its 200 day moving average is $50.69.
-Revenue Change (Y-o-Y): 7.2%. Monness Crespi & Hardt downgraded Dicks Sporting Goods from a “buy” rating to a “neutral” rating in a report on Monday, November 2nd. Investors should watch out for further signals and trade with caution. Year-to-Date the stock performance stands at -16.66%. Same-store sales are projected in a range of down 2% to up 1%, compared with an increase of 3.4% in the same period a year ago. Analysts expected earnings of $3.18 per share, according to FactSet. The company has a market cap of $4,881 million and there are 118,565,691 shares in outstanding. The shares were sold at an average price of $50.56, for a total transaction of $1,011,200.00. The stock presently has a consensus rating of “Hold” and an average price target of $56.89. However, the stock price could fluctuate by $ 4.59 from the estimate as it is suggested by the standard deviation reading. RBC Capital decreased their target price on shares of Dicks Sporting Goods from $58.00 to $56.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 19th.
COCK’s Sporting Goods, Inc.is an omni-channel sporting goods retailer offering an array of sports equipment, clothing, footwear and accessories.
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The comparatively toasty fall meant that seasonal purchases such as winter sportswear and hunting supplies were down, typically major areas of growth during this time of year at the company. As, 603 Dick’s Sporting Goods stores operated 78 Golf Galaxy shops in 46 states, in 29 states, 10 Field & Stream stores in 5 states and three True Runner shops in three states. In addition the Company operates eCommerce operations for both Dick’s and Golf Galaxy.
