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Sterne Agee Maintains Neutral Rating On Dick's Sporting Goods


According to Sterne Agee, Dick's Sporting Goods (NYSE: DKS) Neutral rating is maintained.

Sterne Agee said that it is forecasting 1Q11 EPS of $0.30 versus $0.22 LY, FC of $0.29 and DKS guidance of $0.26-$0.28. “We expect consolidated SSS of 4.7%, (versus 8.5% LY and DKS guidance of +4-5%) on sales of $1,132M. We are modeling Dick's, Golf Galaxy and e-commerce up 4.0%, 2.5% and 30%, respectively. We expect a GM of 29.7% (+83 bps y/y), reflecting the continued mix shift to higher margin footwear and apparel. Based on recent reports from other retailers which highlighted significantly stronger sales in southern states than other states, we contend that material upside to our estimates is unlikely as DKS has only ~35% of its stores in southern states.”

Dick's Sporting Goods closed yesterday at $42.58.


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Posted-In: Dick's Sporting Goods Inc Sterne AgeeAnalyst Color Analyst Ratings

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