Dicks Sporting Goods Rating Increased to Neutral at Zacks (DKS)
Dicks Sporting Goods (NYSE:DKS) was upgraded by Zacks from an “underperform” rating to a “neutral” rating in a note issued to investors on Thursday. The firm currently has a $48.00 price objective on the stock. Zacks‘s target price indicates a potential upside of 5.15% from the stock’s previous close.
Zacks’ analyst wrote, “We have upgraded our long-term recommendation on DICK’S Sporting to Neutral based on better-than-expected second-quarter fiscal 2014 results and an impressive outlook for the third quarter. The company’s growth prospects appear promising, as we believe that the strategic measures of consolidating its store base and using technology to provide better services will enhance its relationship with the present customers and attract new ones at the same time. Moreover, we appreciate the company’s decision of reducing exposure to underperforming categories such as golf and hunting businesses which will allow it to concentrate on other growing categories. However, the stock remains vulnerable to sluggish economic recovery and cautious consumer spending. Moreover, risks of sourcing merchandise from overseas markets may drag the company’s results going forward.”
A number of other firms have also recently commented on DKS. Analysts at Argus reiterated a “buy” rating on shares of Dicks Sporting Goods in a research note on Thursday, August 21st. They now have a $45.04 price target on the stock, down previously from $55.00. Separately, analysts at Citigroup Inc. reiterated a “buy” rating on shares of Dicks Sporting Goods in a research note on Wednesday, August 20th. They now have a $53.00 price target on the stock, up previously from $51.00. Finally, analysts at Telsey Advisory Group raised their price target on shares of Dicks Sporting Goods from $49.00 to $50.00 in a research note on Wednesday, August 20th. They now have a “not rated” rating on the stock. Fourteen analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $51.46.
Shares of Dicks Sporting Goods (NYSE:DKS) traded up 1.24% during mid-day trading on Thursday, hitting $46.215. The stock had a trading volume of 558,544 shares. Dicks Sporting Goods has a 52 week low of $41.30 and a 52 week high of $58.87. The stock has a 50-day moving average of $43.72 and a 200-day moving average of $48.59. The company has a market cap of $5.603 billion and a price-to-earnings ratio of 17.19.
Dicks Sporting Goods (NYSE:DKS) last released its earnings data on Tuesday, August 19th. The company reported $0.67 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.71 earnings per share. Dicks Sporting Goods’s revenue was up 10.3% compared to the same quarter last year. Analysts expect that Dicks Sporting Goods will post $2.78 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, September 26th. Investors of record on Friday, September 5th will be given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date of this dividend is Wednesday, September 3rd.
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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