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Dick's Sporting Goods: Lower Q1 And FY 2017 Guidance Trumps Q4 Beat

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Dicks Sporting Goods Inc (NYSE: DKS) shares were seen trading lower by $3.52 at $49.09 in Monday's session. Despite a fourth-quarter EPS beat of $0.02 along with $300 million more in revenues, the Street is focusing on its lower first-quarter and FY 2017 guidance.

After a lower open, it only managed a $0.12 rally to $51.25 — $0.04 shy of the lower-end of Monday's range ($51.29) — before continuing its move lower.

The ensuing decline has found support in a familiar area. The current low of $48.00 coincides with a pair lows from February 23 ($48.13) and February 24 ($48.06). Since making that low, it has rebounded into the $49.00 handle.

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