Credit Suisse Group Reaffirms “Hold” Rating for Dick’s Sporting Goods Inc (DKS)
Dick’s Sporting Goods Inc (NYSE:DKS)‘s stock had its “hold” rating restated by equities researchers at Credit Suisse Group in a research report issued to clients and investors on Thursday. They currently have a $55.00 target price on the sporting goods retailer’s stock. Credit Suisse Group’s price objective would indicate a potential upside of 36.95% from the stock’s current price.
The analysts wrote, “We hosted meetings with DKS management: We believe the company is doing some very positive things to transition its model, add new layers of differentiation, add new growth drivers, and leverage its power in the industry. That said, it’s difficult to see the stock working until, first, it clears the difficult 2H comparison hurdle, and second, like many other retailers, it provides better visibility on the investment outlook (which should be forthcoming) and EPS growth trajectory past 2017. Our key question looking to next year is whether the multiple margin drivers DKS has will be powerful enough to offset continued investments: Management appeared optimistic about the benefits from vendor restructuring, improving online economics by transitioning the platform in house, and recent cost reductions.””
Other equities analysts have also recently issued research reports about the stock. MKM Partners reaffirmed a “buy” rating and issued a $67.00 price target on shares of Dick’s Sporting Goods in a research report on Tuesday, March 7th. Stifel Nicolaus set a $54.00 price objective on Dick’s Sporting Goods and gave the stock a “buy” rating in a report on Wednesday, May 17th. BidaskClub raised Dick’s Sporting Goods from a “strong sell” rating to a “sell” rating in a report on Tuesday. B. Riley reissued a “buy” rating and issued a $64.00 price objective on shares of Dick’s Sporting Goods in a research note on Friday, May 12th. Finally, Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Dick’s Sporting Goods in a research note on Saturday, May 13th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-two have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $57.91.
Dick’s Sporting Goods (NYSE DKS) traded down 3.01% during mid-day trading on Thursday, reaching $38.95. The company had a trading volume of 1,248,558 shares. 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 one year low of $38.30 and a one year high of $62.88. The company has a market capitalization of $4.38 billion, a P/E ratio of 15.09 and a beta of 0.49.
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, meeting analysts’ consensus estimates of $0.54. The firm had revenue of $1.83 billion during the quarter, compared to analysts’ expectations 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 was up 9.9% on a year-over-year basis. During the same period last year, the company earned $0.50 earnings per share. On average, equities analysts expect that Dick’s Sporting Goods will post $3.69 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Friday, June 9th will be paid a $0.17 dividend. The ex-dividend date of this dividend is Wednesday, June 7th. This represents a $0.68 annualized dividend and a yield of 1.69%. Dick’s Sporting Goods’s dividend payout ratio is currently 26.25%.
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A number of hedge funds and other institutional investors have recently bought and sold shares of DKS. LS Investment Advisors LLC boosted its stake in shares of Dick’s Sporting Goods by 0.3% in the first quarter. LS Investment Advisors LLC now owns 9,562 shares of the sporting goods retailer’s stock valued at $465,000 after buying an additional 31 shares in the last quarter. Municipal Employees Retirement System of Michigan increased its stake in shares of Dick’s Sporting Goods by 0.3% in the first quarter. Municipal Employees Retirement System of Michigan now owns 40,750 shares of the sporting goods retailer’s stock worth $1,983,000 after buying an additional 130 shares during the last quarter. Gulf International Bank UK Ltd increased its stake in shares of Dick’s Sporting Goods by 0.6% in the first quarter. Gulf International Bank UK Ltd now owns 31,233 shares of the sporting goods retailer’s stock worth $1,519,000 after buying an additional 200 shares during the last quarter. James Investment Research Inc. increased its stake in shares of Dick’s Sporting Goods by 7.3% in the first quarter. James Investment Research Inc. now owns 2,933 shares of the sporting goods retailer’s stock worth $143,000 after buying an additional 200 shares during the last quarter. Finally, Hillsdale Investment Management Inc. increased its stake in shares of Dick’s Sporting Goods by 3.3% in the first quarter. Hillsdale Investment Management Inc. now owns 6,200 shares of the sporting goods retailer’s stock worth $302,000 after buying an additional 200 shares during the last quarter. 78.86% of the stock is owned by institutional investors and hedge funds.
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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