Dick's Offers Impressive Execution Despite Intense Competition; Shares Now Fairly Valued
We believe investors should take some chips off the table after no-moat Dick’s reported first-quarter earnings that prompted a more than 20% increase in shares, sending the stock toward our $37.50 fair value estimate (that we don’t plan to materially change). We attribute the rise in shares to the firm’s omnichannel execution, its resilient margins, and a $0.12 increase in full-year earnings guidance at the midpoint to a range of $2.92 to $3.12, from $2.80 to $3.00 previously. We see no change t...Dick's Sporting Goods is an omni-channel sporting goods retailer offering sports equipment, apparel, footwear and accessories. The company also owns and operates Golf Galaxy, Field & Stream and other specialty concept stores, and Dick's Team Sports HQ, an all-in-one youth sports digital platform offering scheduling, communications and live scorekeeping through its GameChanger mobile apps, free league management services, custom uniforms and fan wear, and access to donations and sponsorships. The company provides products to its customers through its retail stores and online. The company is also involved in local communities, sponsoring teams in various sports.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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