In the latest close session, Dick's Sporting Goods (DKS) was down 1.09% at $225.38. The stock fell short of the S&P 500, which registered a gain of 0.79% for the day. Meanwhile, the Dow gained 1.01%, and the Nasdaq, a tech-heavy index, added 1.15%.
Coming into today, shares of the sporting goods retailer had gained 1.17% in the past month. In that same time, the Retail-Wholesale sector lost 1.37%, while the S&P 500 gained 1.27%.
Market participants will be closely following the financial results of Dick's Sporting Goods in its upcoming release. The company is forecasted to report an EPS of $2.71, showcasing a 1.45% downward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $3.19 billion, indicating a 4.19% upward movement from the same quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $14.4 per share and revenue of $14 billion, indicating changes of +2.49% and +4.12%, respectively, compared to the previous year.
It is also important to note the recent changes to analyst estimates for Dick's Sporting Goods. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.15% increase. Currently, Dick's Sporting Goods is carrying a Zacks Rank of #3 (Hold).
In terms of valuation, Dick's Sporting Goods is currently trading at a Forward P/E ratio of 15.82. This represents no noticeable deviation compared to its industry average Forward P/E of 15.82.
We can additionally observe that DKS currently boasts a PEG ratio of 3.26. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Retail - Miscellaneous industry had an average PEG ratio of 2.59 as trading concluded yesterday.
The Retail - Miscellaneous industry is part of the Retail-Wholesale sector. This industry, currently bearing a Zacks Industry Rank of 42, finds itself in the top 18% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
DICK'S Sporting Goods, Inc. (DKS): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
Zacks Investment Research
