Brokerages Anticipate Dick’s Sporting Goods Inc (DKS) Will Post Quarterly Sales of $2.18 Billion
Brokerages expect Dick’s Sporting Goods Inc (NYSE:DKS) to post $2.18 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Ten analysts have provided estimates for Dick’s Sporting Goods’ earnings. The highest sales estimate is $2.21 billion and the lowest is $2.14 billion. Dick’s Sporting Goods reported sales of $1.97 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 10.7%. The business is expected to report its next quarterly earnings report on Tuesday, August 15th.
On average, analysts expect that Dick’s Sporting Goods will report full year sales of $2.18 billion for the current year, with estimates ranging from $8.57 billion to $8.86 billion. For the next financial year, analysts anticipate that the company will post sales of $9.07 billion per share, with estimates ranging from $8.84 billion to $9.37 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Dick’s Sporting Goods.
Dick’s Sporting Goods (NYSE:DKS) last issued its quarterly earnings data on Tuesday, May 16th. The sporting goods retailer reported $0.54 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.54. The firm had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.83 billion. Dick’s Sporting Goods had a net margin of 3.57% and a return on equity of 18.61%. The business’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same period last year, the business posted $0.50 earnings per share.
DKS has been the topic of a number of recent research reports. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Dick’s Sporting Goods in a research note on Saturday, May 13th. B. Riley restated a “buy” rating and set a $58.00 price target on shares of Dick’s Sporting Goods in a research note on Wednesday, May 17th. Goldman Sachs Group, Inc. (The) dropped their price target on shares of Dick’s Sporting Goods from $61.00 to $60.00 and set a “buy” rating on the stock in a research note on Wednesday, March 8th. Cowen and Company restated an “outperform” rating and set a $55.00 price target (down from $66.00) on shares of Dick’s Sporting Goods in a research note on Wednesday, March 8th. Finally, MKM Partners restated a “buy” rating and set a $67.00 price target on shares of Dick’s Sporting Goods in a research note on Tuesday, March 7th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and twenty-two have given a buy rating to the company. The company has an average rating of “Buy” and an average target price of $57.91.
Institutional investors have recently added to or reduced their stakes in the stock. Piedmont Investment Advisors LLC acquired a new position in Dick’s Sporting Goods during the first quarter valued at approximately $553,000. Achmea Investment Management B.V. acquired a new position in Dick’s Sporting Goods during the first quarter valued at approximately $2,324,000. Community Trust & Investment Co. raised its position in Dick’s Sporting Goods by 3.8% in the first quarter. Community Trust & Investment Co. now owns 322,291 shares of the sporting goods retailer’s stock valued at $15,682,000 after buying an additional 11,854 shares in the last quarter. Point72 Asia Hong Kong Ltd acquired a new position in Dick’s Sporting Goods during the first quarter valued at approximately $114,000. Finally, Point72 Asset Management L.P. raised its position in Dick’s Sporting Goods by 6.2% in the first quarter. Point72 Asset Management L.P. now owns 622,500 shares of the sporting goods retailer’s stock valued at $30,291,000 after buying an additional 36,300 shares in the last quarter. 78.86% of the stock is currently owned by institutional investors.
Shares of Dick’s Sporting Goods (DKS) traded down 0.10% during midday trading on Friday, reaching $38.55. 923,299 shares of the company’s stock traded hands. The firm has a market cap of $4.34 billion, a PE ratio of 14.93 and a beta of 0.49. The stock has a 50-day moving average price of $43.48 and a 200 day moving average price of $49.66. Dick’s Sporting Goods has a 12 month low of $38.02 and a 12 month high of $62.88. Dick’s Sporting Goods also was the recipient of some unusual options trading activity on Friday. Stock traders acquired 2,012 put options on the company. This is an increase of 1,084% compared to the average daily volume of 170 put options.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Friday, June 9th will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.76%. The ex-dividend date of this dividend is Wednesday, June 7th. Dick’s Sporting Goods’s dividend payout ratio is currently 26.25%.
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Dick’s Sporting Goods Company Profile
Dick’s Sporting Goods, Inc is an omni-channel sporting goods retailer offering an assortment of sports equipment, apparel, footwear and accessories in its specialty retail stores primarily in the eastern United States. The Company also owns and operates Golf Galaxy, Field & Stream and other specialty concept stores, and Dick’s Team Sports HQ, an all-in-one youth sports digital platform offering free league management services, mobile applications for scheduling, communications and live scorekeeping, custom uniforms and FanWear and access to donations and sponsorships.
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