DICK’S Sporting Goods, Inc. Expected to Earn Q1 2024 Earnings of $3.29 Per Share (NYSE:DKS)

March 20, 2023 Abraham Smith

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DICK’S Sporting Goods, Inc. (NYSE:DKS – Get Rating) – Equity researchers at Telsey Advisory Group have upgraded their first-quarter 2024 EPS estimates for DICK’S Sporting Goods in a research note published on Thursday, March 16. Telsey Advisory Group analyst J. Feldman now forecasts the sporting goods retailer to earn $3.29 per share for the quarter, up from its previous estimate of $2.95. 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 $13.51 per share.

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

DKS has been the subject of several other reports. Wells Fargo & Company increased its price target on shares of DICK’S Sporting Goods to $120.00 from $103.00 in a report on Wednesday, November 23. Goldman Sachs Group has raised its price target for shares of DICK’S Sporting Goods to $129.00 from $125.00 and gave the company a buy rating in a report on Monday, November 28. Evercore ISI has raised its target price on DICK’S Sporting Goods shares to $200.00 from $160.00, giving the company an outperform rating in a report on Wednesday, March 8th. Citigroup raised its target price on shares of DICK’S Sporting Goods to $144.00 from $140.00, giving the company a “neutral” rating in a report Wednesday, March 8. Finally, Bank of America raised its price target for shares of DICK’S Sporting Goods from $145.00 to $170.00 and gave the company a “buy” rating in a report on Wednesday, March 8th. Ten analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $156.61.

DICK’S sporting goods inventory down 1.4%

DKS opened at $144.66 on Monday. The company has a quick ratio of 0.81, a current ratio of 1.88 and a debt to equity ratio of 0.61. The company has a 50-day moving average price of $132.39 and a 200-day moving average price of $119.73. DICK’S Sporting Goods has a 12-month low of $63.45 and a 12-month high of $152.61. The stock has a market cap of $11.46 billion, a price-to-earnings ratio of 13.43, a PEG ratio of 2.00, and a beta of 1.41.

DICK’S Sporting Goods increases dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Friday, March 17 will receive a dividend of $1.00 per share. This is a positive change from DICK’S Sporting Goods’ prior quarterly dividend of $0.49. The ex-dividend date is Thursday March 16th. That equates to a dividend of $4.00 on an annualized basis and a dividend yield of 2.77%. The payout ratio of DICK’S Sporting Goods is currently 37.14%.

Insider buying and selling

In related news, EVP Vladimir Rak sold 29,144 shares of the company’s shares in one transaction on Wednesday, December 21. The shares sold at an average price of $112.43 for a total transaction of $3,276,659.92. Following the closing of the transaction, the Executive Vice President now owns 48,260 shares of the Company, valued at $5,425,871.80. The sale was disclosed in a document filed with the SEC, available at this hyperlink. In other news from DICK’S Sporting Goods, Chairman Edward W. Stack sold 159,461 shares of the stock in a transaction on Monday, March 13th. The shares were sold at an average price of $144.38 for a total transaction of $23,022,979.18. Upon completion of the transaction, the Chairman now owns 10,953,633 shares of the Company, valued at $1,581,485,532.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC’s website. Also, on Wednesday, December 21, EVP Vladimir Rak sold 29,144 shares of the stock in one transaction. The shares sold at an average price of $112.43 for a total transaction of $3,276,659.92. Following the transaction, the Executive Vice President now owns 48,260 shares of the Company, valued at approximately $5,425,871.80. The disclosure for this sale can be found here. During the most recent quarter, insiders sold 271,997 shares of the company’s stock for $38,408,991. 32.83% of the shares are owned by insiders.

Hedge funds rely on sporting goods from DICK

Institutional investors have recently bought and sold shares in the company. Heritage Wealth Management LLC increased its position in DICK’S Sporting Goods by 100.0% during the fourth quarter. Heritage Wealth Management LLC now owns 216 shares of the sporting goods retailer, valued at $26,000, after buying another 108 shares last quarter. CoreCap Advisors LLC bought a new position in DICK’S Sporting Goods valued at $39,000 during the fourth quarter. Northern Oak Wealth Management Inc. bought a new position in DICK’S Sporting Goods valued at $51,000 during the second quarter. Ronald Blue Trust Inc. increased its stake in DICK’S Sporting Goods by 761.9% during the fourth quarter. Ronald Blue Trust Inc. now owns 543 shares of the sporting goods retailer, valued at $57,000, having purchased an additional 480 shares during the period. Finally, Godsey & Gibb Inc. acquired a new $60,000 stake in DICK’S Sporting Goods stock during the fourth quarter. Institutional investors own 75.08% of the company’s shares.

About DICK’S sporting goods

(received rating)

Dick’s Sporting Goods, Inc retails an extensive line of authentic athletic equipment, apparel, footwear and accessories through a blend of associates, in-store services and unique shop-in-shops. The company was founded in 1948 by Richard T. Stack and is headquartered in Coraopolis, PA.

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