Fitness financials: Analyst upgrades Dick's Sporting Goods on long-term growth prospects, plus Foot Locker

An analyst upgraded Dick's Sporting Goods on long-term growth prospects, and Foot Locker declared a quarterly dividend.
Author:
Updated:
Original:

Analyst upgrades Dick's Sporting Goods on long-term growth prospects

An analyst upgraded shares of Dick's Sporting Goods (NYSE: DKS) to "Outperform" from "Neutral" on Aug. 19, based on the stock's valuation and long-term growth prospects at the company.

J. David Cumberland, an analyst with Robert W. Baird & Co., wrote in a client note that Dick's shares have plunged 43.5 percent so far in fiscal 2008, while the S&P retail index has fallen 7.2 percent in the same period.

Cumberland also said contracts with suppliers and planned store openings signal that the company is in a good position, relative to its competitors. He also noted the possibility of greater interest in physical activities from consumers who watched the Olympics.

"Following the slowdown, we expect Dick's to appeal to investors as a high-quality retailer with a long-term profile of double-digit store growth, positive comps, margin improvement, and high-teens EPS growth," he wrote.

The company is slated to report its second-quarter earnings on Aug. 21. The analyst expects Dick's to report a profit of $0.36 per share -- in line with Wall Street's average estimate.

Cumberland has a $25 price target on the stock, implying upside of 34.3 percent over its closing price on Aug. 18 of $18.62.

Dick's slid $0.34 to close at $18.28 on Aug. 19.



Foot Locker declares quarterly dividend


Foot Locker's (NYSE: FL) board of directors declared a quarterly cash dividend on the company's common stock of $0.15 per share. It is payable on Oct. 31 to shareholders of record on Oct. 17.

For more information about any public company on this page or its financial reports, as well as to view stock prices updated every 15 minutes, visit the SNEWS® Stock Market Updates. Click on: www.snewsnet.com/cgi-bin/snews/stock_report.html.

Related

Outdoor financials: Analyst upgrades Dick's Sporting Goods on long-term growth prospects

Analyst upgrades Dick's Sporting Goods on long-term growth prospects An analyst upgraded shares of Dick's Sporting Goods (NYSE: DKS) to "Outperform" from "Neutral" on Aug. 19, based on the stock's valuation and long-term growth prospects at the company. J. David Cumberland, an ...read more

Fitness financials: Analyst initiates Brunswick with 'hold' rating, plus Life Time Fitness, Foot Locker

Analyst initiates Brunswick with 'hold' rating An analyst initiated coverage on Brunswick Corp. (NYSE: BC) but gave it a "Hold" rating based on consumer spending and economic concerns. Brunswick's fitness portfolio includes Life Fitness, Parabody and Hammer Strength. With more ...read more

Outdoor financials: Analyst upgrades VF due to brand growth opportunities, plus Dick's Sporting Goods, Timberland, Collective Brands, Crocs, Liberty Media

Analyst upgrades VF due to brand growth opportunities Crediting strong U.S. business amid current economic challenges, analyst Jim Duffy of Thomas Weisel Partners upgraded VF Corp. (NYSE: VFC), saying he was encouraged by growth opportunities for brands such as Reef, Kipling and ...read more

Fitness financials: Precor-parent Amer expects 2004 growth, plus Dick's Sports, Life Time Fitness, Hibbett, Foot Locker, Equinox, Wal-Mart

Precor parent Amer expects 2004 growth; fitness division has strong salesGrowth in net sales in Amer Group's fitness equipment division lead by Precor was 18 percent over the same period last year, while total company sales were down slightly to Euro 519.1 million (USD $642 ...read more

Fitness financials: Q1 profit for Dick's Sporting Goods down nearly 50 percent, plus Foot Locker

Q1 profit for Dick's Sporting Goods down nearly 50 percent Dick's Sporting Goods' (NYSE: DKS) first-quarter profit plummeted 48 percent as its same-store sales dropped on lower consumer spending. Dick's earned $10.2 million, or $0.09 per share, compared with $19.6 million, or ...read more

Fitness financials: Hibbett's Q2 profit up 2.1 percent, raises guidance, plus Dick's Sporting Goods, Foot Locker

Hibbett's Q2 profit up 2.1 percent, raises guidance Second-quarter profit for Hibbett Sports (Nasdaq: HIBB) edged up 2.1 percent as sales of athletic shoes and apparel helped the company post better-than-expected results. For the three months ending Aug. 2, Hibbett earned $4.8 ...read more

Fitness financials: Gaiam’s Q4 revenue up 17.6 percent, plus Nautilus, Foot Locker, Dick’s Sporting Goods

Gaiam’s Q4 revenue up 17.6 percent After streamlining its business during the last few quarters, Gaiam (Nasdaq: GAIA) said its fourth-quarter net revenue and operating income were the best ever since its inception. Gaiam is the parent of Spri Products, which it acquired in early ...read more

Fitness financials: Dick's Sporting Goods Q3 profit drops 40 percent, plus Hibbett Sports, Foot Locker, Nike

Dick's Sporting Goods Q3 profit drops 40 percent Dick's Sporting Goods (NYSE: DKS) said its fiscal third-quarter profit fell 40 percent on acquisition-related costs. For the period ended Nov. 1, net income dropped to $7.4 million, or $0.06 per share, compared with $12.2 million, ...read more

Fitness financials: Revolving door spins at Bally, plus Dick's, Hibbett, Sport Chalet, Amer, Foot Locker, Saucony

Revolving door spins at BallyThe revolving door at Bally Total Fitness (NYSE: BFT) is spinning at a breakneck pace as the struggling health club leader continues to try to dig out of its well-documented financial, personnel, stockholder and legal woes. Last week, the company ...read more