logo
  Join        Login             Stock Quote

Dicks Sporting Goods (DKS) Gains After Increased Forecast, 3Q EPS Tops View

 November 13, 2012 07:51 AM
 


(By Balachander) Dicks Sporting Goods Inc. (NYSE: DKS) shares added 1.66 percent in premarket trading on Tuesday after the company raised its earnings forecast following stronger-than-expected quarterly profit.

The Coraopolis, Pennsylvania-based sporting goods retailer earned $50.1 million or $0.40 per share for the third quarter, up from $40.2 million or $0.32 per share in the year-ago quarter.

Net sales rose 11.2 percent to $1.3 billion. Same store sales gained 5.1 percent, with a 3.9 percent rise at Dick's Sporting Goods stores, a 2.3 percent growth at Golf Galaxy and a 46.7 percent jump in DKS' eCommerce business.

[Related -Dick's Sporting Goods Inc. (DKS) Q3 Earnings: Opening The Door To Another Miss?]

Wall Street analysts, on average, expected earnings of $0.37 per share on revenue of $1.30 billion for the three months ended October 27.

Looking ahead for the fourth quarter, DKS currently sees earnings per share of around $1.03 to $1.05, compared with $1.01 to $1.05 projected earlier, while analysts expect $1.07.

For the full year, the company now expects earnings per share in the range of $2.53 to $2.55, up from prior expectations of $2.47 to $2.51, while analysts expect $2.54.

As of Oct. 27, the company operated 511 Dick's Sporting Goods stores in 44 states, and 81 Golf Galaxy stores in 30 states.

DKS declared a quarterly dividend of $0.125 per share payable in cash on Dec. 28, 2012 to stockholders of record at the close of business on Nov. 30, 2012.

DKS shares closed Monday's regular trading at $48.70. The stock has been trading in the 52-week range between $34.42 and $54.24.

iOnTheMarket Premium
Advertisement

Advertisement


Post Comment -- Login is required to post message
Name:  
Alert for new comments:
Your email:
Your Website:
Title:
Comments:
 

rss feed

Latest Stories

article imageADP: Private-Sector Payrolls Rise 213k In September

Private-sector employment continued to rise at a moderate pace in September, according to this morning’s read on...

article imageSuspicions Over ADP Employment Make-up

he private payroll processor noted that the sixth continuous payroll gain above 200,000 was a “positive read on...

article imageLessons From the Golden Bear

How attractive is gold when it comes to investing over the long read on...

article imagePondering The Slide In US Inflation Expectations

The Treasury market’s inflation forecast via 10-year Notes continues to fall and the US stock market has read on...

Advertisement
Popular Articles

Advertisement
Daily Sector Scan
Partner Center



Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.