Credit: Shutterstock photoDICK'S Sporting Goods, Inc.DKS , the sporting goods retailer, came out with fourth-quarter fiscal 2015 results, wherein earnings of $1.13 per share slumped 13.1% year over year, falling short of the Zacks Consensus Estimate of $1.15.
For fiscal 2016, the company expects earnings to range from $2.85 - $3.00 per share with comparable store sales (comps) growth of flat to 2% increase. For the first-quarter fiscal 2016, the company envisions earnings per share to lie in the band of 48 - 50 cents, while it anticipates comps growth to range from flat to 1% increase.
Earnings Estimate Revision: The Zacks Consensus Estimate has shown a slight downtrend over the last 7 days. Further, in the trailing four quarters (including the quarter under review), the company has underperformed the Zacks Consensus Estimate by an average of 0.3%.
Revenues: Dick's Sporting generated total sales of nearly $2,240.1 million that jumped 3.7% year over year, but missed the Zacks Consensus Estimate of $2,277 million. Further, consolidated comps for the quarter dropped 2.5% on account of unseasonably warm weather.
Key Events: Dick's Sporting repurchased roughly 1.6 million shares worth $57.3 million during the fourth quarter. Further, on Feb 18, 2016, management declared a 10% hike in its quarterly cash dividend to 15.125 cents per share, payable on Mar 11, 2016 to stockholders of record as on Mar 11.
Zacks Rank: Currently, Dick's Sporting carries a Zacks Rank #3 (Hold) which is subject to change following the earnings announcement.
Stock Movement: Dick's Sporting shares plunged about 6.7% during pre-market trading hours following the disappointing fourth-quarter results.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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