Why Dick's Sporting Goods Shares Are Rising Today
Portfolio Pulse from Nabaparna Bhattacharya
Dick's Sporting Goods Inc (NYSE:DKS) reported a 2.8% year-on-year increase in Q3 FY23 sales to $3.042 billion, surpassing analyst estimates. Comparable store sales rose 1.7%, and adjusted EPS of $2.85 exceeded expectations. The company is optimizing its cost structure, resulting in pre-tax charges but expects to complete the review in fiscal 2023. DKS declared a quarterly dividend of $1.00 per share and raised its full-year adjusted EPS outlook. Shares rose 4.66% to $124.56.
November 21, 2023 | 4:50 pm
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Dick's Sporting Goods reported strong Q3 results with higher sales and EPS, declared a dividend, and raised its full-year outlook, leading to a 4.66% increase in its stock price.
The positive earnings report, dividend declaration, and raised guidance are significant indicators of the company's financial health and future prospects, which typically result in a positive short-term impact on the stock price.
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