Subscribe to RSSDick’s Sporting Goods Q4 Profit Narrowly Beats View (DKS)
Sporting goods retailer Dick’s Sporting Goods, Inc. ( DKS ) said Tuesday that it swung to a fourth quarter profit, helped by higher sales and lower costs, edging out analyst expectations. The Pittsburgh-based company reported fourth quarter net income of $67.4 million, or 56 cents per share, compared with a net loss of $105.6 million, or 94 cents per share, in the year-ago period. Sales jumped 11% from last year, to $1.3 billion. On average, Wall Street analysts expected a slightly smaller profit of 55 cents per share, on matching revenue of $1.3 billion. Looking ahead, the company forecast fiscal 2011 earnings of $1.32 to $1.35 per share, which would meet or exceed analysts’ current estimates of $1.32 per share for the year. Dick’s shares fell 63 cents, or -2.5%, amid a broad market sell-off in premarket trading Tuesday. The Bottom Line Shares of DKS are trading right near 52-week highs of $26 a share. The stock has technical support in the $22 price area. If the shares can firm up, we see overhead resistance around the $30 price level. We do not currently rate this non-dividend paying stock, but we do follow the company closely. Dick’s Sporting Goods, Inc. ( DKS ) does not currently pay a dividend. Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .
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Dick’s Sporting Goods Q4 Profit Narrowly Beats View (DKS)
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