Dicks Sporting Goods Sees Large Volume Increase on Better-Than-Expected Earnings (DKS)
Dicks Sporting Goods (NYSE:DKS) shares saw an uptick in trading volume on Tuesday following a better than expected earnings announcement, American Banking & Market News reports. 5,796,511 shares traded hands during mid-day trading, an increase of 151% from the previous session’s volume of 2,309,827 shares.The stock last traded at $44.68 and had previously closed at $43.51.
The company reported $0.67 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.65 by $0.02. The company had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter in the prior year, the company posted $0.71 earnings per share. The company’s quarterly revenue was up 10.3% on a year-over-year basis.
The company also recently announced a quarterly dividend, which is scheduled for Friday, September 26th. Investors of record on Friday, September 5th will be paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 1.15%.
A number of analysts have recently weighed in on DKS shares. Analysts at RBC Capital cut their price target on shares of Dicks Sporting Goods from $49.00 to $46.00 in a research note on Monday, August 11th. They now have a “sector perform” rating on the stock. Separately, analysts at Morgan Stanley initiated coverage on shares of Dicks Sporting Goods in a research note on Tuesday, June 24th. They set an “equal weight” rating and a $50.00 price target on the stock. Finally, analysts at Deutsche Bank reiterated a “buy” rating on shares of Dicks Sporting Goods in a research note on Monday, June 16th. Thirteen equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Dicks Sporting Goods currently has a consensus rating of “Buy” and a consensus price target of $52.19.
The stock has a 50-day moving average of $44.02 and a 200-day moving average of $49.11. The company has a market cap of $5.465 billion and a P/E ratio of 15.87. Dicks Sporting Goods also saw unusually large options trading activity on Monday. Traders bought 6,443 put options on the stock. This is an increase of 781% compared to the average daily volume of 731 put options.
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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