Dick's Sporting Goods (DKS) Stock Declines Pre-Market on Weak First Quarter SSS

NEW YORK (TheStreet) -- Dick's Sporting Goods (DKS) shares are down 3.98% to $54.05 in pre-market trading on Tuesday following the release of the sporting goods retailer's first quarter earnings report before the opening bell today.

Dick's reported first quarter earnings and revenue that were in line and ahead of analyst expectations respectively, however, the company also reported same store sales growth of 1%, missing analysts' 1.5% growth expectations for the period.

The company reported first quarter net income of $63.3 million, or 53 cents per share, on revenue that rose 8.8% to $1.57 billion for the quarter. Analysts on average were expecting the Coraopolis, PA-based company to report earnings of 53 cents per share on revenue of $1.56 billion.

For the year the company forecast earnings between $3.12 and $3.20 per share versus analysts' $3.19 per share expectations.

TheStreet Ratings team rates DICKS SPORTING GOODS INC as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:

"We rate DICKS SPORTING GOODS INC (DKS) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its growth in earnings per share, increase in net income, revenue growth, attractive valuation levels and good cash flow from operations. We feel its strengths outweigh the fact that the company shows low profit margins."

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