DICK’S Sporting Goods (NYSE:DKS) Updates FY23 Earnings Guidance
DICK’S Sporting Goods (NYSE:DKS – Get Rating) issued an update to its earnings guidance for fiscal 23 on Tuesday morning. The company provided earnings guidance of $10.00 to $12.00 per share for the period, compared to consensus earnings per share estimate of $10.89.
DICK’S Sporting Goods Stock Performance
Shares of DICK’S Sporting Goods rose $1.46 during trading hours on Tuesday to hit $111.83. 84,603 shares of the stock traded compared to an average volume of 1,245,177. The company has a 50-day moving average price of $89.86 and a 200-day moving average price of $95.77. The company has a market cap of $9.01 billion, a price-to-earnings ratio of 8.53, a price-to-earnings ratio of 2.06 and a beta of 1.63. DICK’S Sporting Goods has a yearly low of $63.45 and a yearly high of $147.39. The company has a quick ratio of 0.87, a current ratio of 1.88 and a debt to equity ratio of 0.89.
DICK’S Sporting Goods (NYSE:DKS – Get Rating) last reported its earnings results on Wednesday, May 25th. The sporting goods retailer reported $2.85 EPS for the quarter, beating the consensus estimate of $2.43 by $0.42. DICK’S Sporting Goods had a net margin of 11.75% and a return on equity of 58.42%. The company had revenue of $2.70 billion for the quarter, compared to the consensus estimate of $2.63 billion. In the same quarter last year, the company generated earnings per share of $3.79. The company’s quarterly revenue declined 7.5% compared to the prior-year quarter. On average, stock analysts expect Dick’s Sporting Goods to report earnings per share of 10.78 for the current fiscal year.
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A number of equities analysts have recently issued reports on DKS stocks. Wedbush lowered its target price on DICK’S Sporting Goods from $140.00 to $110.00 in a research note on Thursday, May 26. OTR Global upgraded DICK’s Sporting Goods from a mixed review to a positive review in a report on Wednesday, August 17. Stephens lowered its target price on shares of DICK’S Sporting Goods to $102.00 in a research note on Monday, May 30. Bank of America raised its target price on DICK’S Sporting Goods to $125.00 from $105.00 and gave the company a buy rating in a research report on Friday. Finally, Telsey Advisory Group raised its target price on shares of DICK’S Sporting Goods to $125.00 from $110.00, giving the stock an outperform rating in a report on Friday. One investment analyst has rated the stock with a sell rating, nine with a hold rating and nine with a buy rating. According to data from MarketBeat.com, DICK’S Sporting Goods currently has an average rating of Hold and an average target price of $116.47.
insider activity
In other news, on Tuesday, May 31, Director William J. Colombo bought 5,000 shares of the stock in one transaction. The stock was purchased at an average price of $80.99 per share for a total value of $404,950.00. Following the purchase, the Director now owns 162,003 shares of the Company, valued at $13,120,622.97. The purchase was disclosed in a filing with the Securities & Exchange Commission, available at this link. Also on Thursday, May 26, SVP John Edward Hayes III sold 1,200 shares of the stock in a transaction. The shares sold at an average price of $84.57 for a total value of $101,484.00. Following the completion of the sale, the senior vice president now owns 34,231 shares of the company, valued at $2,894,915.67. The transaction was disclosed in a document filed with the Securities & Exchange Commission, available at this hyperlink. Also on Tuesday, May 31, Director William J. Colombo acquired 5,000 shares of the company’s shares in a transaction. The stock was purchased at an average price of $80.99 per share for a total transaction of $404,950.00. Upon completion of the transaction, the Director now directly owns 162,003 shares of the Company, valued at $13,120,622.97. The disclosure for this purchase can be found here. Company insiders own 32.83% of the company’s shares.
Institutional investors rely on sporting goods from DICK
A number of large investors have recently increased or reduced their stakes in DKS. Edgestream Partners LP acquired a new interest in DICK’S Sporting Goods valued at approximately $261,000 during the first quarter. First Trust Advisors LP increased its stake in DICK’S Sporting Goods by 6.4% during the first quarter. First Trust Advisors LP now owns 355,871 shares of the sporting goods retailer, valued at $35,594,000, after purchasing an additional 21,417 shares last quarter. Prudential Financial Inc. increased its stake in DICK’S Sporting Goods by 45.3% during the first quarter. Prudential Financial Inc. now owns 29,154 shares of the sporting goods retailer, valued at $2,916,000, after purchasing an additional 9,083 shares last quarter. Federated Hermes Inc. increased its position in shares of DICK’S Sporting Goods by 3.5% during the first quarter. Federated Hermes Inc. now owns 74,378 shares of the sporting goods retailer, valued at $7,440,000, after purchasing an additional 2,526 shares last quarter. Finally, Bridgewater Associates LP increased its stake in DICK’S Sporting Goods by 218.2% during the first quarter. Bridgewater Associates LP now owns 8,343 shares of the sporting goods retailer, valued at $834,000, after purchasing an additional 5,721 shares last quarter. 78.92% of the shares are owned by institutional investors and hedge funds.
DICK’S Sporting Goods Company Profile
(received rating)
DICK’S Sporting Goods, Inc, along with its subsidiaries, operates as a sporting goods retailer primarily in the eastern United States. The Company offers hardlines, including sporting goods equipment, fitness equipment, golf equipment, and hunting and fishing gear products; Clothing; and shoes and accessories.
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