DICK’S Sporting Goods, Inc. (NYSE:DKS) Forecasted to Earn Q2 2024 Earnings of $3.79 Per Share

May 22, 2023 Abraham Smith

DICK’S Sporting Goods, Inc. (NYSE:DKS – Get Rating) – The equities analysts at Telsey Advisory Group released their second quarter 2024 EPS estimates for shares of DICK’S Sporting Goods in a note to investors on Friday, May 19 , lowered. Telsey Advisory Group analyst J. Feldman now expects the sporting goods retailer to report earnings per share of $3.79 for the quarter, down from the previous estimate of $3.81 is equivalent to. Telsey Advisory Group currently has an Outperform rating and a price target of $165.00 on the stock. The consensus estimate for DICK’S Sporting Goods current full year earnings is $13.50 per share. Telsey Advisory Group also released estimates for DICK’S Sporting Goods earnings of $3.60 per share for the fourth quarter of 2024, $3.20 per share for the first quarter of 2025, $4.12 per share for the second quarter of 2025, from $3.07 per share in the third quarter of 2025 and from $3.71 per share in the fourth quarter of 2025.

DICK’S Sporting Goods (NYSE:DKS – Get Rating) last announced its earnings results on Tuesday, March 7th. The sporting goods retailer reported earnings per share of $2.93 for the quarter, beating analysts’ consensus estimate of $2.86 by $0.07. The company had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.45 billion. DICK’S Sporting Goods had a net margin of 8.43% and a return on equity of 45.97%. The company’s revenue rose 7.3% year over year. For the same period last year, the company posted earnings per share of $3.64.

Other analysts have also published reports on the stock. Loop Capital increased its price target on shares of DICK’S Sporting Goods to $150.00 from $130.00 and gave the stock a “hold” rating in a research report on Thursday, March 9th. Cowen raised his target price on shares of DICK’S Sporting Goods from $155.00 to $166.00 in a research report on Monday, February 6. Morgan Stanley raised its target price on shares of DICK’S Sporting Goods to $175.00 from $165.00 and gave the company an overweight rating in a research report on Wednesday, March 8th. JPMorgan Chase & Co. increased its target price on shares of DICK’S Sporting Goods to $148.00 from $125.00, giving the company a neutral rating in a research report on Wednesday, March 8th. Finally, Wedbush raised its target price on shares of DICK’S Sporting Goods from $140.00 to $155.00 and gave the company a Outperform rating in a research report on Wednesday, March 8th. Ten investment analysts have given the stock a ‘hold’ rating and fourteen have given it a ‘buy’ rating. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of $156.61.

DICK’S Sporting Goods stock performance

Shares of DKS stock opened at $126.67 on Monday. The company’s 50-day simple moving average is $141.20 and its 200-day simple moving average is $129.06. The company has a short-term ratio of 0.81, a current ratio of 1.88 and a leverage ratio of 0.61. The company has a market cap of $10.85 billion, a P/E of 11.76, a P/E of 1.85 and a beta of 1.44. DICK’S Sporting Goods has a 12-month low of $63.45 and a 12-month high of $152.61.

Institutional trade in DICK’S sporting goods

Several institutional investors have recently bought and sold shares in the company. Balyasny Asset Management LLC increased its position in DICK’S Sporting Goods by 6,908.1% in the third quarter. Balyasny Asset Management LLC now owns 1,244,493 shares of the sporting goods retailer, valued at $130,224,000, after purchasing an additional 1,226,735 shares during the period. Samlyn Capital LLC increased its position in DICK’S Sporting Goods by 179.0% in the third quarter. Samlyn Capital LLC now owns 1,179,258 shares of the sporting goods retailer, valued at $123,397,000, after purchasing an additional 756,539 shares during the period. BlackRock Inc. increased its stake in DICK’S Sporting Goods stock by 12.1% during the first quarter. BlackRock Inc. now owns 5,983,808 shares of the sporting goods retailer, valued at $849,043,000, after purchasing an additional 644,609 shares last quarter. CIBC Private Wealth Group LLC increased its stake in DICK’S Sporting Goods stock by 116.7% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,174,456 shares of the sporting goods retailer, valued at $141,275,000, after purchasing an additional 632,420 shares last quarter. Finally, Envestnet Asset Management Inc. increased its stake in DICK’S Sporting Goods stock by 1,168.3% during the first quarter. Envestnet Asset Management Inc. now owns 465,279 shares of the sporting goods retailer, valued at $7,918,000, after buying another 428,593 shares last quarter. 75.08% of the shares are owned by institutional investors and hedge funds.

Insider Buying and Selling at DICK’S Sporting Goods

In other news from DICK’S Sporting Goods, CFO Navdeep Gupta sold 19,203 shares of the stock in a transaction on Friday, March 24. The stock sold at an average price of $138.14 for a total value of $2,652,702.42. Following the closing of the sale, the CFO now directly owns 104,884 shares of the company, valued at $14,488,675.76. The transaction was disclosed in a document filed with the SEC, available at this link. In related news, CEO Lauren R. Hobart sold 83,392 shares of the company’s stock in a transaction Monday, March 13. The stock sold at an average price of $145.21 for a total transaction of $12,109,352.32. Following the sale, the CEO now directly owns 233,269 shares of the company, valued at $33,872,991.49. The transaction was disclosed in a filing with the SEC, which can be accessed at this hyperlink. Also, CFO Navdeep Gupta sold 19,203 shares of the company in a transaction on Friday, March 24. The stock sold at an average price of $138.14 for a total value of $2,652,702.42. Following the sale, the chief financial officer now directly owns 104,884 shares of the company’s stock valued at $14,488,675.76. The disclosure for this sale can be found here. Over the past ninety days, insiders sold 285,382 shares of the company’s shares, valued at $41,042,070. 30.79% of the shares are owned by insiders.

DICK’S Sporting Goods increases dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 31st. A dividend of $1.00 was paid to shareholders of record on Friday, March 17. The ex-dividend date of this dividend was Thursday, March 16th. This is an increase from DICK’S Sporting Goods’ previous quarterly dividend of $0.49. That equates to a dividend of $4.00 on an annualized basis and a yield of 3.16%. DICK’S Sporting Goods Dividend Payout Ratio (DPR) is 37.14%.

DICK’S Sporting Goods Company Profile

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Dick’s Sporting Goods, Inc. is engaged in the retailing of an extensive line of authentic athletic equipment, apparel, footwear and accessories. In addition, the company offers its products both online and through mobile applications. The company was founded in 1948 by Richard T. Stack and is headquartered in Coraopolis, PA.

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