Morgan Stanley Reiterates “Overweight” Rating for Dick’s Sporting Goods (DKS)
Dick’s Sporting Goods (NYSE:DKS)‘s stock had its “overweight” rating reaffirmed by equities researchers at Morgan Stanley in a research report issued on Friday, Stock Ratings Network.com reports. They currently have a $59.00 price target on the stock, up from their previous price target of $58.00. Morgan Stanley’s price target suggests a potential upside of 10.88% from the company’s current price.
The analysts wrote, “We remain Overweight [on] DKS and are incrementally more positive after the analyst day. We believe DKS provided reasonable, yet positive targets for ’17 and mgmt clearly appeared encouraged by recent trends. We expect top-line and gross margins to drive 20-25% EPS growth in 2014 and see room for upward revisions (we are 7% above Street for ’14).”
A number of other analysts have also recently weighed in on DKS. Analysts at Citigroup Inc. raised their price target on shares of Dick’s Sporting Goods (NYSE:DKS) to $63.00 in a research note to investors on Thursday. They now have a “hold” rating on the stock. Separately, analysts at Credit Suisse raised their EPS on shares of Dick’s Sporting Goods (NYSE:DKS) in a research note to investors on Thursday. They now have a “neutral” rating and a $56.00 price target on the stock. Finally, analysts at Deutsche Bank reiterated a “buy” rating on shares of Dick’s Sporting Goods (NYSE:DKS) in a research note to investors on Thursday. They now have a $58.00 price target on the stock, up previously from $52.00.
Six equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. Dick’s Sporting Goods has an average rating of “Buy” and an average target price of $57.27.
Dick’s Sporting Goods (NYSE:DKS) traded down 0.55% during mid-day trading on Friday, hitting $52.92. 473,702 shares of the company’s stock traded hands. Dick’s Sporting Goods has a 52 week low of $44.24 and a 52 week high of $54.25. The stock has a 50-day moving average of $49.82 and a 200-day moving average of $49.80. The company has a market cap of $6.642 billion and a P/E ratio of 20.39.
Dick’s Sporting Goods (NYSE:DKS) last announced its earnings results on Tuesday, August 20th. The company reported $0.71 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.76 by $0.05. The company had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.58 billion. During the same quarter in the prior year, the company posted $0.65 earnings per share. The company’s quarterly revenue was up 6.5% on a year-over-year basis. Analysts expect that Dick’s Sporting Goods will post $2.64 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, September 27th. Shareholders of record on Friday, September 6th will be given a dividend of $0.13 per share. This represents a $0.50 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date of this dividend is Wednesday, September 4th.
DICK’S Sporting Goods, Inc is a sports and fitness specialty omni-channel retailer offering a range of brand name sporting goods equipment, apparel and footwear in a specialty store environment.
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