DICK'S Sporting Goods, Inc. (DKS - Free Report) , the sporting goods retailer, came out with first-quarter fiscal 2018 results, wherein earnings of 59 cents per share grew 13.5% year over year and outpaced the Zacks Consensus Estimate of 42 cents.
Earnings Estimate Revision: The Zacks Consensus Estimate for fiscal 2018 has witnessed a downtrend in the past 30 days. However, in the trailing four quarters (excluding the quarter under review), the company has outperformed the Zacks Consensus Estimate by an average of 3.3%.
Revenues: DICK'S Sporting generated total sales of nearly $1,909.7 million that jumped 4.6% year over year and also came ahead of the Zacks Consensus Estimate of $1,891 million. However, consolidated comps decreased 2.5%.
Outlook: Following the company’s solid quarterly results, management raised its fiscal 2018 earnings outlook. Earnings are now envisioned in the band of $2.92-$3.12 per share, up from the previous guided range of $2.80-$3 per share.
Zacks Rank: Currently, DICK'S Sporting carries a Zacks Rank #3 (Hold), which is subject to change following the earnings announcement. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Stock Movement: DICK’S Sporting’s shares gained 15% during pre-market trading hours following the solid quarterly results and raised earnings guidance.
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