Dick's Sporting Goods beats Q3 but shares fall on Declining Outlook

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Reading the Tea Leaves for Dick's Sporting Goods, Inc. (DKS)

Dick's Sporting Goods (NYSE:DKS) last issued its earnings results on Tuesday, August 15th. The sporting goods retailer reported $0.30 EPS for the quarter, topping the Thomson Reuters' consensus estimate of $0.26 by $0.04. Dick's Sporting Goods had a return on equity of 19.09% and a net margin of 3.74%. Revenue during the quarter was $32.64 billion, representing 2% growth from $32.04 billion in year-ago quarter. During the same quarter previous year, the firm earned $0.48 EPS. This excludes a corporate restructuring charge, conversion costs for former TSA stores, income related to a contract termination payment, the benefit from a multi-year sales tax refund and a one-time cost the company expects to incur to enhance its ScoreCard loyalty program.

Oppenheimer & Co Inc downsized its holdings by selling 40,228 shares a decrease of 20.5%. If you are viewing this news story on another site, it was copied illegally and reposted in violation of United States & global copyright & trademark legislation.

COPYRIGHT VIOLATION NOTICE: "Dick's Sporting Goods Inc (DKS) Position Reduced by Oregon Public Employees Retirement Fund" was originally reported by Week Herald and is owned by of Week Herald.

Other institutional investors have also recently bought and sold shares of the company. As of October 28, 2017, the company operated 719 Dick's Sporting Goods stores in 47 states, with approximately 38.2 million square feet, 98 Golf Galaxy stores in 32 states, with approximately 2.1 million square feet, and 35 Field & Stream stores in 16 states, with approximately 1.6 million square feet. Credit Suisse Group set a $44.00 target price on shares of Dick's Sporting Goods and gave the stock a "hold" rating in a research report on Monday, August 7th.

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On October 11 analysts at Wells Fargo & Company updated guidance on DKS stating a rating of "Hold" and projecting a price target of $29.00.

In the market the company is trading down since yesterday's close of 26.85. For the full year, analysts expect earnings to decline -7.69% yoy to $2.88. Dick's Sporting Goods has a 1 year low of $23.88 and a 1 year high of $62.88. The most current P/E ratio is 8.85 and the market cap of the company is 2.71B. Stockholders of record on Friday, December 8th will be given a dividend of $0.17 per share. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. However, it still came in above Wall Street's earnings per share estimate of 26 cents for the quarter, but wasn't enough to save DKS stock. US Bancorp DE now owns 22,635 shares of the sporting goods retailer's stock worth $901,000 after acquiring an additional 174 shares in the last quarter. The company's revenue for the quarter was up 9.6% on a year-over-year basis. analysts forecast that Dick's Sporting Goods will post 2.88 EPS for the current year.

The company expects to relocate one Dick's Sporting Goods store in the fourth quarter of 2017. Investment Counselors of Maryland LLC grew its position in Dick's Sporting Goods by 1.1% in the second quarter. Investment Counselors of Maryland LLC now owns 25,331 shares of the sporting goods retailer's stock worth $1,009,000 after purchasing an additional 275 shares during the period. As of quarter end Wellington Management Group Llp had bought a total of 61,070 shares growing its holdings by 104.3%.

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