Dick’s Sporting Goods, Inc. (DKS – Analyst Report), the sporting goods retailer, came out with third-quarter fiscal 2015 results, wherein adjusted earnings of 45 cents per share jumped 9.8% year over year, but missed the Zacks Consensus Estimate by a penny.

For fiscal 2015, the company now expects earnings to range from $2.85 – $3.00 per share with comparable store sales (comps) growth of flat to 1% increase. For the fourth quarter, the company envisions earnings per share to lie in the band of $1.10 – $1.25, while it anticipates comps to range from a 2% decline to rise 1%.

Earnings Estimate Revision: The Zacks Consensus Estimate for fiscal 2015 has shown a slight downtrend over the last 30 days. In the trailing four quarters (excluding the quarter under review), the company has outperformed the Zacks Consensus Estimate by an average of 2.9%.

Revenues: Dick’s Sporting generated total sales of nearly $1,642.3 million that jumped 7.6% year over year, but missed the Zacks Consensus Estimate of $1,667 million. Further, consolidated comps for the quarter grew 0.4%.

Key Events: Dick’s Sporting opened 27 namesake stores and 7 Field & Stream stores during the third quarter. Also, the company renovated 2, relocated 5 and shuttered down 1 namesake store.

Also, the company repurchased roughly 3.2 million shares worth $150 million during the third quarter. Further, on Nov 12, 2015, management declared a quarterly cash dividend of 13.75 cents per share, payable on Dec 31, 2015 to stockholders of record as on Dec 11.

Zacks Rank: Currently, Dick’s Sporting carries a Zacks Rank #4 (Sell) which is subject to change following the earnings announcement.

Stock Movement: Dick’s Sporting shares plunged about 16.7% during pre-market trading hours following the disappointing third-quarter results.

Get the latest research report on DKS – FREE