Dick's Sporting's Q4 comp trends likely at low end or below, says Cleveland Cleveland Research said Dick's Sporting Goods' Q4 comp store trends are tracking to the low-end/below expectations and the company is taking aggressive steps to reduce seasonal inventory. As a result, the firm lowered its Q4 EPS estimate to $1.02 from $1.10, below consensus of $1.06.
News For DKS From The Last 14 Days
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Dick's Sporting downgraded to Market Perform from Outperform at Wells Fargo Wells Fargo downgraded Dick's Sporting Goods to Market Perform citing the recent rebound in shares and its data for August which indicates golf equipment sales continue to be weak. Wells also believes Disk's is near peak sales productivity and that the shift to ecommerce will lead to lower margins. The firm dropped its price target range for shares to $43-$46 from $47-$50.