Gear Up (DKS Earnings)

Dick's Sporting Goods (DKS) will report Q1 earnings tomorrow (7:30 ET last quarter) with a conference call to follow at 10 AM ET.

Current Cap IQ consensus estimates Q1 EPS of $0.45 (+17% Y/Y) on revs of $1.882 bln (+3%) with comps down 1.3%

Dick's no longer issues quarterly guidance.

Last quarter, DKS missed sales estimates. Q4 comps fell 2% versus guidance for a low-single digit decline while FY19 EPS guidance was in-line.

TECHS:

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• DKS trades at a PE of 10x vs peer Hibbett (HIBB 15x)
• Short interest has increased from 13% before the Q4 report to 14.5% as of April 15.
• Options are pricing in a 3% move