Earnings Previews: Dick's, Lithium Americas, 908 Devices, Petco

The number of companies posting quarterly results drops below 500 next week, as the current earnings-reporting season winds down. We will still cover those we think will be most interesting to investors, but the number of reports probably will not require a daily story.

After markets closed Thursday night, Broadcom, Costco, Gap and Marvell Technology all reported quarterly results, and they all four top-line and bottom-line estimates. Only two (Broadcom and Marvell) traded higher Friday morning. The broad markets traded lower, with all three major U.S. indexes down by about 1.5%. Demand for safer assets like gold and bonds outweighed demand for riskier assets, while crude oil prices were up another 5%, after cooling off a bit on Thursday.

Here is a look at four companies expected to report quarterly results either late Monday or before markets open on Tuesday.

Dick’s Sporting Goods

Sporting gear retailer Dick’s Sporting Goods Inc. (NYSE: DKS) has posted a share price gain of about 60% over the past 12 months, including a decline of nearly 22% since late November. Cash flow from operations was negative in the third quarter, primarily due to a swollen inventory. The company reports results first thing Tuesday morning.

The other big overhang is its relationship with Nike, which earlier this month cut ties with Foot Locker, saying the apparel giant would focus more on its own direct-to-consumer business. Nike has not indicated whether the deal it signed with Dick’s in November will continue.

Analyst sentiment trends toward bullish, with 13 of 26 ratings at Buy or Strong Buy. Another 12 analysts rate the stock at Hold. At a recent price of around $108.90 a share, the upside potential based on a median price target of $145.00 is 33.1%. At the high target of $180, the upside potential is more than 659%.

For the company’s fiscal fourth quarter, analysts are expecting revenue of $3.31 billion, which would be down 24% sequentially but up 5.8% year over year. Adjusted earnings per share (EPS) are forecast at $3.53, up 10.8% sequentially and 45.3% higher year over year. For the full fiscal year that ended in January, EPS are forecast to come in at $15.58, up nearly 155%, on sales of $12.25 billion, up nearly 28%.

The stock trades at 7.0 times expected 2022 EPS, 9.7 times estimated 2023 earnings of $11.26 and 9.5 times estimated 2024 earnings of $11.49 per share. The stock’s 52-week range is $66.76 to $147.39. Dick’s pays an annual dividend of $1.48 (yield of 1.62%). Total shareholder return for the past year was 63.7%.

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