Dick's Sporting Goods Inc. shares eased on Wednesday as investors looked ahead to the retailer's upcoming quarterly results. The company is set to report its fiscal third-quarter 2025 earnings before the market opens on Tuesday, Nov. 25.

Wall Street is watching consumer demand, new store investments and the recent Foot Locker deal for clues on future growth.

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Analyst’s Take

Bank Of America Securities analyst Robert F. Ohmes reiterated the Buy rating on the stock, with a price forecast of $245.

Ohmes said recent third-quarter spending trends point to possible upside for Dick’s comp performance versus his forecast. He noted card-tracking data shows softer athletic spending, hinting at slower Foot Locker comps this quarter.

The analyst expects third-quarter EPS to decline due to higher pre-opening costs tied to new formats. He added that full-year margin gains may be limited by SG&A pressure from digital, store and marketing investments.

Ohmes said growth from retail media and GameChanger could help offset higher tariff expenses later in the year. He also expects management to outline cost-synergy progress following the recent Foot Locker acquisition.

Ohmes projects pro forma earnings rising over the next two years as combined operations scale and efficiencies improve.

Estimates

The analyst models third-quarter EPS of $2.69, versus the Street’s $2.70, and sees room for comp upside relative to his forecast.

Ohmes models pro forma EPS of $15.90 in fiscal 2027 and $17.20 in fiscal 2028. The estimate assumes an all-cash purchase of Foot Locker by Dick’s. It also factors in about $2.1 billion in additional debt.

DKS Price Action: Dick’s Sporting Goods shares were down 1.43% at $207.17 at the time of publication on Wednesday, according to Benzinga Pro data.

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