Dick's Sporting Goods Analysts Increase Their Forecasts After Upbeat Results

Dick's Sporting Goods Inc DKS reported better-than-expected third-quarter financial results on Tuesday.

Dick's Sporting Goods reported third-quarter FY23 sales growth of 2.8% year-on-year to $3.042 billion, beating the analyst consensus estimate of $2.940 billion. Adjusted EPS of $2.85 beat the analyst consensus of $2.45, according to data from Benzinga Pro.

Dick's Sporting Goods raised full-year adjusted EPS outlook to $12.00-$12.60, up from $11.50-$12.30 previously.

Dick's Sporting shares rose 0.1% to trade at $121.66 on Wednesday.

These analysts made changes to their price targets on Dick's Sporting following earnings announcement.

• Telsey Advisory Group raised the price target on Dick's Sporting from $140 to $145. Telsey Advisory Group analyst Joseph Feldman maintained an Outperform rating.
• Morgan Stanley boosted the price target on Dick's Sporting from $145 to $150. Morgan Stanley analyst Simeon Gutman maintained an Overweight rating.
• Wedbush increased the price target on Dick's Sporting from $115 to $130. Wedbush analyst Seth Basham maintained a Neutral rating.

Also Check This Out: Jim Cramer Calls Major Automaker Stock A 'Wait And See Situation' — 'I Want To See The Quarter'