Dicks Sporting Goods Inc(NYSE: DKS) has reported the adjusted earnings per share of $1.32 in the fourth quarter ended January 28th, 2017, beating the analysts’ estimates for the adjusted earnings per share of $1.29. The company has also exceeded their expectations for the earnings per share to be in the range of $1.19 to 1.31. The company had reported the adjusted revenue grew 10.9 percent to $2.48 billion in the fourth quarter, beating the analysts’ estimates for revenue of $2.47 billion. Dicks Sporting Goods has reported the consolidated non-GAAP net income for the fourth quarter of $147.8 million driven by strong comp sales and gross margin expansion.

Moreover, the consolidated same store sales have increased 5.0% compared to the company’s guidance of an approximate 3 to 6% growth. The same store sales for DICK’S Sporting Goods has increased 5.3%, while Golf Galaxy increased 13.2%.The Fourth quarter 2015 consolidated same store sales had decreased 2.5%.

Additionally, Dicks Sporting Goods has realized meaningful market share gains and has seen growth across each of the three primary categories of hardlines, apparel, and footwear. Dicks Sporting Goods has successfully relaunched the eCommerce business on the own web platform. The eCommerce penetration for the fourth quarter of 2016 was 17.9% of total net sales, compared to 15.7% during the fourth quarter of 2015.

Meanwhile, Dicks Sporting Goods has declared a quarterly dividend in the amount of $0.17 per share on the company’s Common Stock and Class B Common Stock. The dividend is payable in cash on March 31st, 2017 to stockholders of record at the close of business on March 10th, 2017.

During the fourth quarter of 2016, Dicks Sporting Goods has repurchased approximately 0.6 million shares of its common stock at an average cost of $54.06 per share, for a total cost of $29.7 million. In total for 2016, DKS has repurchased approximately 3.1 million shares of its common stock at an average price of $46.55 per share, for a total cost of $145.7 million.

In 2017, Dicks Sporting Goods would continue to be aggressive and evolve the business as the company will implement a new merchandising strategy aimed at rationalizing the vendor base and optimizing the assortment to deliver a more refined offering for the customers. DKS are in the process of reviewing the entire vendor base, which will be segmented into strategic partners and transactional vendors, with tertiary vendors being eliminated. This strategy, combined with the efforts to enhance the digital capabilities, will enable the company to stay ahead of consumer trends and differentiate Dicks Sporting Goods from the competition.

On the other hand. for 2017, Dicks Sporting Goods expects the full-year earnings per share in the range of $3.65 to $3.75. For the first quarter of 2017, DKS expects the earnings per share in the range of 50 cents to 55 cents. Given this lower than estimated guidance, the stock fell over 5.25 this morning (as of March 7th, 2017; Source: Google finance)

Dicks Sporting Goods stock has risen 20.33% in a year (source: Google Finance). According to tipranks.com, 13 analysts has covered the stock while recommending a “Strong Buy”. Dicks Sporting Goods has an average price target of $63.50, which is a further upside of 20.70%.