Dick's Sporting Goods Raised Outlook After Strong Q1 Earnings, But Analyst Is Watching For Inventory Shrink Commentary
Portfolio Pulse from Shivani Kumaresan
Dick's Sporting Goods (NYSE:DKS) reported strong Q1 earnings, beating analyst expectations and raising its FY24 EPS and net sales guidance. Goldman Sachs and BofA Securities analysts have both issued positive ratings and increased price targets for the stock.
May 29, 2024 | 7:10 pm
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Dick's Sporting Goods reported strong Q1 earnings, beating expectations with an adjusted EPS of $3.30 and sales of $3.02 billion. The company raised its FY24 EPS and net sales guidance. Analysts from Goldman Sachs and BofA Securities have upgraded their ratings and increased price targets.
The strong Q1 earnings report, raised FY24 guidance, and positive analyst ratings are likely to drive the stock price higher in the short term. The stock has already seen a 15.9% increase, indicating strong market reaction.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100