Shares of sporting goods retailer Dick’s Sporting Goods (NYSE: DKS) were on an upswing in pre-market trading at the time of writing on Tuesday after the retailer announced Q1 earnings of $3.40 per diluted share versus $2.85 in the same period last year and exceeded consensus estimates of $3.14 per share.
The company posted net sales of $2.84 billion in Q1, an increase of 5.3% year-over-year versus consensus estimates of $2.81 billion. The retailer’s comparable store sales rose by 3.4% in the first quarter.
Dick’s Sporting Goods also declared a quarterly dividend of $1.00 per share payable in cash on June 30 to stockholders of record at the close of business on June 16, 2023.
The retailer reaffirmed its FY23 outlook and “continues to expect full-year earnings per diluted share to be in the range of $12.90 to 13.80, including approximately $0.20 for the 53rd week, and comparable store sales to be in the range of flat to positive 2.0%.”
Analysts are cautiously optimistic about DKS stock with a Moderate Buy consensus rating based on 10 Buys and eight Holds.
