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Dick's Sporting Goods Inc stock price
Dick's Sporting Goods Inc latest news:
Under Armour's stock sinks after Susquehanna swings back to bearish rating
Shares of Under Armour Inc. sank 3.7% in premarket trade Tuesday, after the athletic gear and apparel maker was downgraded at Susquehanna Financial, which cited "poor" brand management, worsened by a promotional environment. Analyst Sam Poser cut his rating back to negative, after raising it to neutral two months ago. He kept his stock price target at $11, which is 31% below Monday's closing price of $15.98. "Despite ongoing evolution within the ranks of [Under Armour's] senior management, we believe, based on proprietary checks and our industry experience, that Under Armour's brand position will continue to weaken before it is clear if it can be salvaged," Poser wrote in a note to clients. "We contend that, in order to reaffirm [Under Armour's] place as an aspirational sports brand, all Under Armour product must be pulled from Kohl's, DSW, and Famous Footwear." He said advertisements for Under Armour products from the "moderate" retailers are causing "better" retailers such as Dick's Sporting Goods Inc. and Hibbett Sports Inc. to "plan their Under Armour businesses down." The stock has lost 4.0% over the past three months, while rival Nike Inc. shares have soared 25.3% and the S&P 500 has gained 8.0%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
TJX and Dick's Sporting Goods fall; Buffalo Wild Wings soars
TJX, Dick's Sporting Goods and Marathon Oil skid while Buffalo Wild Wings and Advance Auto Parts jump
Dick's Sporting Goods shares sink on weak 2018 outlook
Dick's Sporting Goods Inc. shares sank 2.4% in Tuesday premarket trading after the athletic retailer announced a preliminary 2018 earnings per share decline of about 20%. Net income for the quarter totaled $36.9 million, or 35 cents per share, down from $48.9 million, or 44 cents per share, for the same period last year. Adjusted EPS was 30 cents, beating the 26-cents FactSet consensus. Revenue totaled $1.94 billion, up from $1.81 billion and ahead of the $1.89 billion FactSet estimate. E-commerce sales increased about 16% during the quarter, accounting for 10.3% of total sales. Same-store sales fell 0.9%, ahead of the 2.7% decline FactSet forecast. The company plans to invest in its private brands, e-commerce and other areas, according to a statement from Chief Executive Edward Stack. "Given these investments, continued gross margin pressure and approximately flat comp sales, we expect earnings per diluted share to decline by as much as 20% in 2018," he said. For full-year 2017, the company now expects EPS in the range of $2.95 to $3.07, and adjusted EPS of $2.92 to $3.04. The previous guidance was for EPS of $2.85 to $3.05 and adjusted EPS of $2.80 to $3.00. For the fourth quarter, Dick's expects EPS in the range of $1.05 to $1.17 and adjusted EPS in the range of $1.12 to $1.24. The FactSet consensus is for full-year EPS of $2.87 and fourth-quarter EPS of $1.11. Dick's shares are down nearly 57% for the past year while the S&P 500 index is up 19.4% for the period. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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