NEW YORK (TheStreet) -- Dick's Sporting Goods (DKS) plunged more than 18% to a one-year low of $43.51 on Tuesday after the company reported first-quarter earnings that came up short of analysts' expectations.
The company reported adjusted earnings per share of 50 cents, compared to the Thomson Reuters consensus estimate of 52 cents a share. Revenue totaled $1.44 billion, which came up short of analysts' expectations of $1.46 billion.
Dick's also forecast second-quarter EPS guidance of 62 cents a share to 67 cents a share, but the consensus estimate called for 82 cents a share. The company also expects second-quarter comparable-store sales up 1% to 3%. Dick's further expects to open approximately eight new Dick's Sporting Goods stores and one new Field & Stream store and to relocate three Dick's Sporting Goods stores in the quarter.
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Finally, Dick's expects full-year adjusted earnings per share of $2.70 to $2.85, compared to the consensus estimate of $3.08. The company expects full-year comparable-store sales up 1% to 3%. Dick's also expects to open 50 new Dick's Sporting Goods stores, relocate five stores and remodel five stores in the full year. It further expects to open eight new Field & Stream stores, relocate two Golf Galaxy stores and open one new Golf Galaxy store.
The stock closed down 17.98% to $43.60 on Tuesday.
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: