Dick's Sporting Goods (DKS) Stock Higher Today After Beating Fourth Quarter Estimates
NEW YORK (TheStreet) -- Shares of Dick's Sporting Goods (DKS) - Get Report are up 2.58% to $56.85 in pre-market trading today after the company reported fourth quarter results that beat analysts' estimates.
The Coraopolis, PA-based sporting goods retailer reported earnings of an adjusted $1.30 per diluted share on revenue of $2.2 billion for the fourth quarter, above estimates of $1.22 in earnings and revenue of $2.12 billion, according to Reuters.
Non-GAAP earnings for the full year were $2.87 per diluted share on revenue of $6.8 billion, which also surpassed earnings estimates of $2.79 on revenue of $6.77 billion.
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"The 17% increase in earnings per diluted share was driven by the continued growth of our omni-channel network, our powerful marketing and merchandising strategies, and the execution of these strategies by our store associates," CEO Edward Stack said.
"The strong performance validates the merchandising and space allocation strategies that we put into place during this past year. Our team also successfully navigated a heavily promotional environment while exceeding our top line and bottom line targets, and our inventory is well-positioned as we head into 2015," Stack added.
Dick's expects to earn $3.10 to $3.20 per diluted share for 2015, compared to analyst estimates of $3.20.
Separately, TheStreet Ratings team rates DICKS SPORTING GOODS INC as a Buy with a ratings score of B+. TheStreet Ratings Team has this to say about their recommendation:
"We rate DICKS SPORTING GOODS INC (DKS) a BUY. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, reasonable valuation levels, good cash flow from operations, growth in earnings per share and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company has had sub par growth in net income."
You can view the full analysis from the report here: DKS Ratings Report
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