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Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our analyst ratings page.
Considering buying DPZ stock? Here’s what analysts think:
Latest Ratings for DPZ
Date | Firm | Action | From | To |
---|---|---|---|---|
Mar 2022 | Loop Capital | Downgrades | Buy | Hold |
Mar 2022 | Guggenheim | Maintains | Neutral | |
Mar 2022 | Citigroup | Maintains | Neutral |
View More Analyst Ratings for DPZ
View the Latest Analyst Ratings
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Academy Sports and Outdoors, Inc. ASO reported second-quarter fiscal 2024 (ended Aug. 3) results, wherein adjusted earnings met the Zacks Consensus Estimate but net sales missed the same. The bottom and top lines declined on a year-over-year basis.
The quarterly results reflect lower sales across the sports and recreation merchandise and the apparel merchandise divisions due to ongoing macroeconomic uncertainties and a decline in consumers’ discretionary spending. Also, a temporary reduction in outbound shipments at ASO’s Georgia distribution center related to a new warehouse management information system and several regional severe weather events added to the downtrend.
Going forward, Academy Sports aims to focus on increasing traffic and conversion for its stores and website. It expects to achieve the objective by leveraging its improved targeted marketing capabilities and expanding the new loyalty program.
Following the results, shares of ASO jumped 5.2% on Tuesday.
Quarter in Details
Academy Sports reported adjusted earnings per share (EPS) of $2.03, which met the Zacks Consensus Estimate. The metric, however, declined 2.9% year over year.
Academy Sports and Outdoors, Inc. Price, Consensus and EPS Surprise
Academy Sports and Outdoors, Inc. price-consensus-eps-surprise-chart | Academy Sports and Outdoors, Inc. Quote
Quarterly net sales of $1.55 billion lagged the consensus estimate of $1.57 billion by 1.4% and were down 2.2% year over year. Comparable sales declined 6.9% year over year.
Operating Highlights of ASO
During the quarter, selling, general and administrative expenses (as a percentage of net sales) were up 150 basis points (bps) year over year to 23.8%. The gross margin expanded 50 bps year over year to 36.1%.
Net income was $142.6 million, down from $157.1 million in the year-ago quarter.
Adjusted EBITDA declined year over year to $232.5 million from $248.9 million.
Academy Sports’ Balance Sheet
As of Aug. 3, 2024, ASO’s cash and cash equivalents totaled $324.6 million, down from $347.9 million at the end of fiscal 2023. Net merchandise inventories at the end of the fiscal second quarter were $1.37 billion compared with $1.19 billion at fiscal 2023-end. Net long-term debt was $483.6 million, marginally down from $484.6 million at the end of fiscal 2023.
At the end of the first half of fiscal 2024, net cash provided by operating activities was $291 million, up from $243.6 million in the comparable period a year ago.
ASO’s Fiscal 2024 Outlook Lowered
For fiscal 2024, Academy Sports now expects net sales to be between $5.89 billion and $6.08 billion, down from the prior expected range of $6.07-$6.35 billion. The company expects comparable sales to be between (6)% and (3)% compared with the prior expected range of (4)-1%.
The gross margin is still expected to be between 34.3% and 34.7%. Capital expenditures are now anticipated to be in the range of $175-$225 million, down from $225-$275 million expected earlier. The company expects adjusted net income to be between $420 million and $480 million.
ASO anticipates adjusted EPS to be in the range of $5.75-$6.50.
ASO’s Zacks Rank & Key Picks
Academy Sports currently carries a Zacks Rank #4 (Sell).
Here are some better-ranked stocks from the Consumer Discretionary sector.
Royal Caribbean Cruises Ltd. RCL currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
RCL has a trailing four-quarter earnings surprise of 18.5%, on average. The stock has gained 59.9% in the past year. The Zacks Consensus Estimate for RCL’s 2024 sales and EPS indicates growth of 18.1% and 71.1%, respectively, from the year-ago levels.
DoubleDown Interactive Co., Ltd. DDI currently sports a Zacks Rank of 1. DDI has a trailing four-quarter earnings surprise of 22.1%, on average. The stock has risen 47.8% in the past year.
The Zacks Consensus Estimate for DDI’s 2024 sales and EPS indicates an increase of 12.6% and 15.8%, respectively, from the year-ago levels.
Norwegian Cruise Line Holdings Ltd. NCLH currently sports a Zacks Rank of 1. NCLH has a trailing four-quarter earnings surprise of 5.7%, on average. The stock has rallied 6.7% in the past year.
The Zacks Consensus Estimate for NCLH’s 2024 sales and EPS indicates an increase of 9.8% and 125.7%, respectively, from the year-ago levels.
Zacks Investment Research
Dave & Buster's Entertainment, Inc. PLAY reported mixed second-quarter fiscal 2024 results, with earnings beating the Zacks Consensus Estimate and revenues missing the same. The top and the bottom line increased on a year-over-year basis.
During the quarter, the company reported strong performance from the remodeled locations. Also, it recorded a positive reception of the new menu, which is driving improvements in food and beverage performance and guest satisfaction. Pricing tests for games and food and beverage offerings have bolstered revenues and margins, with further gains anticipated as optimization continues.
The special events segment experienced substantial growth, with same-store sales increasing significantly both for the second quarter and year to date. Forward bookings for fiscal 2024 are also well ahead of last year. Despite some difficulties with same-store sales in a challenging environment, Dave & Buster's remains focused on its medium-term objectives and anticipates its strategic initiatives to drive growth in same-store sales, revenues, EBITDA and cash flow in upcoming periods.
Following the release of the results, the company's shares jumped 12.2% during after-hours trading on Tuesday.
Earnings & Revenues in Detail
Dave & Buster's Entertainment, Inc. Price, Consensus and EPS Surprise
Dave & Buster's Entertainment, Inc. price-consensus-eps-surprise-chart | Dave & Buster's Entertainment, Inc. Quote
During the fiscal second quarter, the company reported adjusted earnings per share (EPS) of $1.12, beating the Zacks Consensus Estimate of 87 cents. In the year-ago quarter, it reported an adjusted EPS of 94 cents.
Quarterly revenues of $557.1 million missed the consensus mark of $562 million. The top line increased 2.8% from $542.1 million reported in the prior-year quarter.
Food and Beverage revenues (32.6% of total revenues in the reported quarter) inched up 0.6% year over year to $181.4 million. Entertainment revenues (67.4%) increased 4.1% year over year to $375.7 million.
Comps Details
During the quarter under discussion, comparable store sales (including Main Event branded stores) declined 6.3% year over year.
Operating Highlights
During the fiscal second quarter, operating income amounted to $84.5 million compared with $77.1 million in the prior-year quarter. The operating margin was 15.1% compared with 14.3% in the year-ago quarter. Our estimate for the metric was 14.1%.
Adjusted EBITDA came in at $151.6 million compared with $140.3 million in the year-earlier quarter. Our estimate for the metric was $138.2 million.
Balance Sheet
As of Aug. 6, 2024, cash and cash equivalents were $13.1 million compared with $37.3 million as of Feb. 4, 2024.
As of Aug. 6, 2024, the company repurchased 1.2 million shares for an aggregate cost of $60 million. As of the same date, the company had $140 million available for the buyback program.
At the fiscal second-quarter end, net long-term debt totaled approximately $1.29 billion compared with $1.28 billion as of Feb. 4, 2024.
Zacks Rank & Key Picks
Dave & Buster currently has a Zacks Rank #4 (Sell).
Some better-ranked stocks in the Zacks Retail-Wholesale sector include Texas Roadhouse, Inc. TXRH, Potbelly Corporation PBPB and El Pollo Loco Holdings, Inc. LOCO. TXRH currently sports a Zacks Rank #1 (Strong Buy) while PBPB and LOCO carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Texas Roadhouse has a trailing four-quarter earnings surprise of 0.4%, on average. TXRH’s shares have risen 59.1% in the past year. The Zacks Consensus Estimate for TXRH’s 2024 sales and EPS indicates 15.6% and 39.2% growth, respectively, from the year-earlier actuals.
Potbelly Corporation has a trailing four-quarter earnings surprise of 77.5%, on average. The stock has declined 27.6% so far this year. The Zacks Consensus Estimate for PBPB’s 2025 sales and EPS implies a rise of 4.2% and 30%, respectively, from the year-ago levels.
El Pollo Loco Holdings has a trailing four-quarter earnings surprise of 21.6%, on average. LOCO’s shares have risen 43% in the past year. The Zacks Consensus Estimate for LOCO’s 2025 sales and EPS indicates 3.8% and 11.7% growth, respectively, from the prior-year figures.
Zacks Investment Research
September S&P 500 E-Mini futures (ESU24) are trending down -0.40% this morning after the CPI report was released. Consumer prices rose slightly in August, but the annual inflation rate continued its downward trend, reaching the lowest point since early 2021. This suggests that the Federal Reserve may be poised to lower interest rates soon. While overall inflation eased, core inflation, excluding volatile food and energy prices, remained relatively steady. This could influence the Fed's decision on the extent of any rate cut.
In yesterday’s trading session, Wall Street’s main stock indexes ended mixed. Oracle surged over +11% and was the top percentage gainer on the S&P 500 after the IT giant reported stronger-than-expected Q1 results. Also, Broadcom climbed more than +5% and was the top percentage gainer on the Nasdaq 100 after KeyBanc Capital Markets stated that Apple’s iPhone 16 launch is favorable for the semiconductor and software giant due to all models being upgraded to Wi-Fi 7. In addition, Tesla gained over +4% after Deutsche Bank named the stock a “Top Pick” with a Buy rating and a price target of $295. On the bearish side, Hewlett Packard Enterprise plunged more than -8% and was the top percentage loser on the S&P 500 after announcing a $1.35 billion offering of Series C mandatory convertible preferred stock in an underwritten registered public offering. Also, JPMorgan Chase slid over -5% and was the top percentage loser on the Dow after the bank’s president indicated that analysts’ projections for next year’s expenses and net interest income might be overly optimistic.
The debate between Vice President Kamala Harris and former President Donald Trump was also in the spotlight, covering topics such as their economic plans, U.S.-China relations, and immigration, though market responses were limited. As the debate concluded, Harris’ chances of winning the election rose to 56% on the betting site PredictIt, up from 53% before the debate.
U.S. Crude Oil Inventories data will be reported today as well. Economists estimate this figure to be 0.900M, compared to last week’s value of -6.873M.
“A 25-basis point interest rate cut seems perfectly reasonable ... there might be a little bit of a risk of overreaction if the Fed were to go 50 bps,” said Lara Castleton, U.S. head of portfolio construction and strategy at Janus Henderson Investors.
U.S. rate futures have priced in a 67.0% chance of a 25 basis point rate cut and a 33.0% probability of a 50 basis point rate cut at the September FOMC meeting.
In the bond market, the yield on the benchmark 10-year U.S. Treasury note is at 3.610%, down -0.95%.
The Euro Stoxx 50 futures are up +0.27% this morning, recovering from yesterday’s losses, while investors looked ahead to a crucial U.S. inflation reading later today. Retail and mining stocks led the gains on Wednesday, while healthcare stocks lost ground. Data from the Office for National Statistics released on Wednesday showed that Britain’s economy stagnated for the second consecutive month in July as manufacturing output experienced a sharp decline. Meanwhile, investors are gearing up for the U.S. inflation report set to be released later today and the European Central Bank’s monetary policy decision tomorrow. Investors will also be keeping an eye on remarks from ECB board member Elizabeth McCaul and the central bank’s supervisor Claudia Buch, scheduled for later today. In corporate news, Commerzbank Ag soared over +15% after Italian bank UniCredit acquired a 4.5% stake in the lender from the German government. Also, Industria DE Diseno Textil Sa (ITX.E.DX) rose more than +4% after the Zara owner reported strong sales between August and September.
U.K.’s GDP, U.K.’s Industrial Production, U.K.’s Manufacturing Production, and U.K.’s Monthly GDP 3M/3M Change data were released today.
U.K. July GDP has been reported at 0.0% m/m and +1.2% y/y, weaker than expectations of +0.2% m/m and +1.4% y/y.
U.K. July Industrial Production came in at -0.8% m/m and -1.2% y/y, weaker than expectations of +0.3% m/m and -0.2% y/y.
U.K. July Manufacturing Production arrived at -1.0% m/m and -1.3% y/y, weaker than expectations of +0.2% m/m and -0.1% y/y.
U.K. July Monthly GDP 3M/3M Change was at +0.5%, weaker than expectations of +0.6%.
Asian stock markets today settled in the red. China’s Shanghai Composite Index (SHCOMP) closed down -0.82% and Japan’s Nikkei 225 Stock Index (NIK) closed down -1.49%.
China’s Shanghai Composite Index ended lower today as ongoing economic and policy uncertainties in the country continued to dampen sentiment. Bank and energy stocks led the declines on Wednesday. At the same time, lithium stocks surged following an unconfirmed report that battery maker CATL had suspended some mining activities, with Jinzhou Yongshan Lithium climbing +10%. Meanwhile, the offshore yuan edged higher against the dollar on Wednesday, partly as investors reduced the perceived likelihood of Donald Trump winning the U.S. presidency, thereby decreasing the chances of further tariffs on Chinese goods. In other news, Canada said Tuesday that it is considering surtaxes on additional Chinese goods, including critical minerals, batteries, and semiconductors. In corporate news, BYD Company gained more than +3% after setting a higher sales target for this year. Investors are now focusing on Chinese retail sales and industrial production data, set for release later this week.
Japan’s Nikkei 225 Stock Index closed lower today, marking its seventh consecutive session of decline, as the yen surged sharply in response to hawkish remarks from a Bank of Japan official. Energy and utility stocks led the declines on Wednesday. Export-oriented stocks also lost ground. The latest Reuters Tankan survey, published on Wednesday, showed that the sentiment index for Japanese manufacturers dropped to +4 in September from +10 in August, reaching a 7-month low due to worries over weak Chinese demand. Meanwhile, the yen rose to its highest level against the greenback since December on Wednesday after BOJ policy member Junko Nakagawa stated that the central bank would keep raising interest rates if the economy and inflation evolve according to its forecasts. Most economists surveyed anticipated that the central bank would hold off on raising rates again until December or January, with the next decision set for next week. The Nikkei Volatility, which takes into account the implied volatility of Nikkei 225 options, closed up +0.71% to 28.33.
Pre-Market U.S. Stock Movers
Dave & Buster’s Entertainment surged over +11% in pre-market trading after the company reported better-than-expected Q2 adjusted EPS.
GameStop plunged more than -10% in pre-market trading after reporting weaker-than-expected Q2 revenue.
Morgan Stanley fell over -1% in pre-market trading after Goldman Sachs downgraded the stock to Neutral from Buy.
Williams-Sonoma gained more than +2% in pre-market trading after Jefferies upgraded the stock to Buy from Hold with a price target of $156.
Salesforce fell about -0.5% in pre-market trading after Erste Group downgraded the stock to Hold from Buy.
Today’s U.S. Earnings Spotlight: Wednesday - September 11th
Oxford Industries (OXM), Tsakos Energy (TEN), Lesaka Tech (LSAK), Vera Bradley (VRA), Champions Oncology (CSBR).
On the date of publication, Oleksandr Pylypenko did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policyhere.
Consumer stocks were declining premarket Wednesday, with The Consumer Staples Select Sector SPDR Fund (XLP) down 0.6% and The Consumer Discretionary Select Sector SPDR Fund (XLY) 0.4% lower.
Dave & Buster's Entertainment shares were up nearly 12% after the company overnight reported higher fiscal Q2 adjusted earnings and revenue.
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