• Investing
  • Stock
  • Editor’s Pick
  • Economy
The Significant Deals
Stock

Dick’s Sporting Goods shares rise on analyst optimism ahead of results

by November 25, 2024
written by November 25, 2024

On Monday, Dick’s Sporting Goods, Inc. (NYSE: NYSE:DKS) experienced a 4% increase in its share price ahead of the announcement of its third-quarter fiscal 2024 results. The company is scheduled to release these results before the market opens on Tuesday, November 26th. Analysts from various firms have reiterated their positive stance on the retailer’s stock, with expectations of strong performance.

Williams Trading has maintained a Buy rating and a $250.00 price target on Dick’s Sporting Goods. The firm anticipates the company’s third-quarter results to surpass consensus estimates, citing effective strategic promotions, market share gains, and improvements in women’s footwear and apparel sales. The analyst from Williams Trading highlighted that despite concerns regarding the optimization of new store concepts, Dick’s Sporting Goods’ better product allocations and execution are resonating with consumers and securing the retailer’s position in the market.

TD Cowen also reiterated a Buy rating with a higher price target of $270.00, suggesting that Dick’s management might raise the lower end of the full-year earnings per share (EPS) guidance due to strength across various product lines. The firm’s valuation is based on a discounted cash flow model, reflecting a premium to the historical price-to-earnings multiple given the company’s potential for a durable low double-digit EPS compound annual growth rate and high returns on capital from new investments.

Ahead of the earnings report, Bloomberg provided consensus estimates, predicting an adjusted EPS of $2.68 and net sales of $3.03 billion for the third quarter. The estimates also forecast a 2.5% increase in comparable store sales. For the full year 2025, the EPS estimate stands at $13.91 with a 3.37% rise in comparable sales.

Additional analyst commentary from Citi suggests a potential increase in the full-year 2024 EPS guidance, while Wedbush expects a mostly in-line quarter. Concerns were raised about the impact of higher costs associated with new store openings and the potential difficulty in navigating tariffs under the next round of proposed tariffs.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

This post appeared first on investing.com
0 comment
0
FacebookTwitterPinterestEmail

previous post
Nvidia, Netflix Lead Market Cap Stock Movers on Monday
next post
Peabody’s $2.32 billion deal for Anglo American coal assets called ‘transformative’

You may also like

BASF results down on impairments, restructuring

January 27, 2025

European chipmakers slump as traders gauge DeepSeek AI...

January 27, 2025

Nasdaq futures tumble as China’s AI push rattles...

January 27, 2025

China Vanke’s CEO, chairman resign amid growing liquidity...

January 27, 2025

Fuji Media, rocked by sexual misconduct allegations, says...

January 27, 2025

Italy’s MPS shares fall ahead of Mediobanca board...

January 27, 2025

British Land stock drops following stake sale

January 27, 2025

UMG shares rally after new multi-year pact with...

January 27, 2025

BASF shares indicated 3% lower as impairments drag...

January 27, 2025

Ryanair cuts 2026 traffic forecast amid ongoing Boeing...

January 27, 2025
Fill Out & Get More Relevant News








    Stay ahead of the market and unlock exclusive trading insights & timely news. We value your privacy - your information is secure, and you can unsubscribe anytime. Gain an edge with hand-picked trading opportunities, stay informed with market-moving updates, and learn from expert tips & strategies.

    Recent Posts

    • Divided Fed proposes rule to ease capital requirements for big Wall Street banks

      June 26, 2025
    • Women’s Tennis Association extends media rights deal with Tennis Channel through 2032

      June 26, 2025
    • Bumble shares jump 26% as dating company plans to axe 30% of workforce

      June 26, 2025
    • Small-business AI use is lagging, but one firm is channeling Sherlock Holmes and knocking out ‘grunt work’

      June 25, 2025

    Categories

    • Economy (245)
    • Editor's Pick (3,646)
    • Investing (534)
    • Stock (6,426)

    Latest News

    • Divided Fed proposes rule to ease capital requirements for big Wall Street banks
    • Women’s Tennis Association extends media rights deal with Tennis Channel through 2032

    Popular News

    • SAIC Motor sees up to 90% drop in 2024 profits
    • Mexico’s Alsea reports 98% tumble in third-quarter profit

    About The Significant deals

    • Privacy Policy
    • Terms & Conditions

    Copyright © 2025 thesignificantdeals.com | All Rights Reserved

    The Significant Deals
    • Investing
    • Stock
    • Editor’s Pick
    • Economy