Dick's Sporting Goods Analysts Slash Their Forecasts After Weak Q2 Earnings
Portfolio Pulse from Lisa Levin
Dick's Sporting Goods, Inc. (NYSE:DKS) reported lower than expected Q2 earnings and reduced its FY23 guidance. Sales grew 3.6% Y/Y to $3.22 billion, missing the analyst consensus of $3.23 billion. Adjusted EPS of $2.82, down 23% Y/Y, missed the analyst consensus of $3.81. The company's shares fell 24.2% to close at $111.53 on Tuesday. Several analysts have reduced their price targets for the company's stock.
August 23, 2023 | 11:04 am
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Dick's Sporting Goods reported lower than expected Q2 earnings and reduced its FY23 guidance, leading to a drop in its share price and analysts reducing their price targets.
The company's lower than expected earnings and reduced guidance are negative indicators for its financial performance, which has led to a drop in its share price and analysts reducing their price targets. This is likely to have a negative impact on the company's stock in the short term.
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