Dick’s Sporting Goods Stock Rises Ahead Of Q3 Earnings: Retail’s Cautiously Optimistic

Shares of Dick’s Sporting Goods Inc. ($DKS) were up more than 3% ahead of the company’s third-quarter earnings, lifting retail sentiment.

Wall Street analysts expect Dick’s to announce earnings of $2.68 per share on revenues of $3.03 billion. The company is set to announce results before the market opens on Tuesday.

For its second quarter, Dick’s EPS stood at $4.37 on revenues of $3.47 billion, which was up 7.8% from previous year. Its net income for last quarter was $362.23 million, up 48.25%, driven by strong sales, improved margins, and its “omnichannel experience” investments.

The company had raised its full-year guidance for fiscal 2024, expecting EPS to come in between $13.55 and $13.90, with comparable sales growth guidance to range from 2.5% to 3.5%, up from the previous expectation of 2% to 3% growth.

The total revenue for the year is projected to be $12.98 billion, which is below the consensus estimates of $13.28 billion, according to Stocktwits data. Estimates for 2024 EPS stand at $13.92.

According to a Reuters report, analysts following the company have reconfirmed their estimates over the last 30 days, showing their confidence in its upcoming earnings. Dick's has only missed Wall Street’s revenue estimates once over the last two years, the report added.

Retail sentiment on the stock improved to ‘neutral’ (46/100) from ‘bearish’ (31/100) a day ago. Message volumes improved to ‘extremely high’ (89/100) from ‘high’ (56/100).

DKS sentiment meter and message volumes on Nov 25 as of 1:05 pm ET| Source: Stoctwits

Several Stockwits users were bullish on the stock.

DKS stock is up 49.78% year-to-date.

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