Dick’s Sporting Goods, Inc. (NYSE:DKS) reported worse-than-expected second-quarter earnings and lowered FY23 guidance.
Sales grew 3.6% Y/Y to $3.22 billion, missing the analyst consensus of $3.23 billion. Adjusted EPS of $2.82, down 23% Y/Y, missed the analyst consensus of $3.81.
The company reduced the adjusted EPS outlook to $11.50-$12.30 from $12.90-$13.80 vs. the consensus of $13.49.
DICK’S Sporting shares fell 24.2% to close at $111.53 on Tuesday.
These analysts made changes to their price targets on Dick’s Sporting Goods following earnings announcement.
- Telsey Advisory Group cut the price target on Dick’s Sporting Goods from $160 to $140. Telsey Advisory Group analyst Joseph Feldman maintained an Outperform rating.
- Baird lowered the price target on Dick’s Sporting Goods from $140 to $125. Baird analyst Justin Kleber maintained a Neutral rating.
- Barclays cut the price target on Dick’s Sporting Goods from $174 to $139. Barclays analyst Adrienne Yih maintained an Overweight rating.
- Citigroup lowered the price target on Dick’s Sporting Goods from $153 to $118. Citigroup analyst Paul Lejuez maintained a Neutral rating.
- B of A Securities cut the price target on Dick’s Sporting Goods from $180 to $125. B of A Securities analyst Robert Ohmes downgraded the stock from Buy to Neutral.
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