Analysts on Wall Street project that Dick's Sporting Goods (DKS) will announce quarterly earnings of $3.34 per share in its forthcoming report, representing an increase of 1.2% year over year. Revenues are projected to reach $3.12 billion, increasing 3.4% from the same quarter last year.
The current level reflects an upward revision of 0.5% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.
Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.
While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.
Given this perspective, it's time to examine the average forecasts of specific Dick's metrics that are routinely monitored and predicted by Wall Street analysts.
According to the collective judgment of analysts, 'Comparable store sales - YoY change' should come in at 3.0%. Compared to the current estimate, the company reported 5.3% in the same quarter of the previous year.
The consensus estimate for 'Number of stores - Total (EOP)' stands at 865. Compared to the current estimate, the company reported 857 in the same quarter of the previous year.
Analysts predict that the 'Total Square Footage' will reach 44.00 Msqft. Compared to the present estimate, the company reported 42.9 Msqft in the same quarter last year.
Based on the collective assessment of analysts, 'Number of stores - Dicks Sporting Goods' should arrive at 725. Compared to the current estimate, the company reported 723 in the same quarter of the previous year.
Analysts forecast 'Number of stores - Golf Galaxy/Specialty Concept Store' to reach 134. Compared to the present estimate, the company reported 134 in the same quarter last year.
View all Key Company Metrics for Dick's here>>>
Shares of Dick's have experienced a change of -9% in the past month compared to the +10.7% move of the Zacks S&P 500 composite. With a Zacks Rank #3 (Hold), DKS is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
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DICK'S Sporting Goods, Inc. (DKS): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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