Dicks Sporting Goods Coverage Initiated at Morgan Stanley (DKS)
Morgan Stanley began coverage on shares of Dicks Sporting Goods (NYSE:DKS) in a research note issued on Tuesday. The firm set an “equal weight” rating and a $50.00 price target on the stock. Morgan Stanley’s price objective suggests a potential upside of 11.66% from the stock’s previous close.
Dicks Sporting Goods (NYSE:DKS) traded down 0.18% on Tuesday, hitting $44.70. 250,746 shares of the company’s stock traded hands. Dicks Sporting Goods has a one year low of $42.33 and a one year high of $58.87. The stock has a 50-day moving average of $46.64 and a 200-day moving average of $52.31. The company has a market cap of $5.482 billion and a price-to-earnings ratio of 16.33.
Dicks Sporting Goods (NYSE:DKS) last announced its earnings results on Tuesday, May 20th. The company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by $0.03. The company had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter in the previous year, the company posted $0.48 earnings per share. The company’s revenue for the quarter was up 7.9% on a year-over-year basis. Analysts expect that Dicks Sporting Goods will post $2.79 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, June 27th. Stockholders of record on Friday, June 6th will be paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 1.12%. The ex-dividend date is Wednesday, June 4th.
A number of other analysts have also recently weighed in on DKS. Analysts at Deutsche Bank reiterated a “buy” rating on shares of Dicks Sporting Goods in a research note on Monday, June 16th. Separately, analysts at Zacks downgraded shares of Dicks Sporting Goods from a “neutral” rating to an “underperform” rating in a research note on Monday, June 9th. They now have a $41.00 price target on the stock. Finally, analysts at Susquehanna cut their price target on shares of Dicks Sporting Goods from $65.00 to $51.00 in a research note on Thursday, May 22nd. They now have a “positive” rating on the stock. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $51.82.
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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