DICK'S Sporting Goods Boosts FY19 EPS Outlook - Quick Facts

(RTTNews) - While reporting financial results for the second quarter on Thursday, sporting goods retailer DICK'S Sporting Goods Inc. (DKS) raised its earnings guidance for the full-year 2019.

In the Thursday's pre-market trade, DKS is currently trading at $37.36, up $4.40 or 13.35 percent.

For fiscal 2019, the company raised its earnings guidance to a range of about $3.30 to 3.45 per share from the previous forecast range of $3.20 to 3.40 per share.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $3.31 per share for the year. Analysts' estimates typically exclude special items.

Consolidated same store sales are for the year are currently expected to increase in the low single-digits, compared to a 3.1 percent decrease in 2018.

The company also expects to open eight new DICK'S Sporting Goods stores and relocate three DICK'S Sporting Goods stores in 2019. It expects to open two new Golf Galaxy stores and relocate two Golf Galaxy stores also in 2019. Seven of the new stores are expected to open during the third quarter.

Further, the company said it is continuing the strategic review of its hunt business, including Field & Stream.

On August 19, 2019, the Company's Board of Directors authorized and declared a quarterly dividend of $0.275 per share on the Company's Common Stock and Class B Common Stock, payable in cash on September 27, 2019 to stockholders of record at the close of business on September 13, 2019.