Zacks: Brokerages Anticipate Dick’s Sporting Goods Inc (DKS) Will Post Quarterly Sales of $2.18 Billion
Wall Street analysts predict that Dick’s Sporting Goods Inc (NYSE:DKS) will report $2.18 billion in sales for the current fiscal quarter, Zacks reports. Nine analysts have issued estimates for Dick’s Sporting Goods’ earnings, with estimates ranging from $2.14 billion to $2.21 billion. Dick’s Sporting Goods reported sales of $1.97 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 10.7%. The company is expected to issue its next earnings report on Tuesday, August 15th.
According to Zacks, 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 $8.83 billion. For the next financial year, analysts expect that the firm will report sales of $9.06 billion per share, with estimates ranging from $8.84 billion to $9.37 billion. Zacks Investment Research’s sales averages 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 announced its quarterly earnings results on Tuesday, May 16th. The sporting goods retailer reported $0.54 EPS for the quarter, hitting analysts’ consensus estimates of $0.54. Dick’s Sporting Goods had a return on equity of 18.61% and a net margin of 3.57%. The company had revenue of $1.83 billion during the quarter, compared to analyst estimates of $1.83 billion. During the same quarter last year, the firm posted $0.50 earnings per share. The firm’s revenue was up 9.9% on a year-over-year basis.
Several brokerages have weighed in on DKS. Stifel Nicolaus reiterated an “outperform” rating and issued a $65.00 target price on shares of Dick’s Sporting Goods in a report on Sunday, April 23rd. Canaccord Genuity restated a “buy” rating and set a $67.00 price objective on shares of Dick’s Sporting Goods in a research note on Monday, May 8th. B. Riley reaffirmed a “buy” rating and set a $64.00 target price on shares of Dick’s Sporting Goods in a research report on Friday, May 12th. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Dick’s Sporting Goods in a research report on Saturday, May 13th. Finally, Wedbush reissued an “outperform” rating and issued a $68.00 price objective on shares of Dick’s Sporting Goods in a report on Sunday, May 14th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and twenty-two have given a buy rating to the stock. Dick’s Sporting Goods presently has a consensus rating of “Buy” and an average target price of $56.95.
Shares of Dick’s Sporting Goods (NYSE DKS) traded up 0.08% during mid-day trading on Wednesday, reaching $37.02. The company had a trading volume of 175,753 shares. The stock has a market capitalization of $4.16 billion, a price-to-earnings ratio of 14.34 and a beta of 0.48. The firm has a 50-day moving average price of $39.44 and a 200-day moving average price of $47.08. Dick’s Sporting Goods has a 1-year low of $35.87 and a 1-year high of $62.88.
The business also recently announced a quarterly dividend, which was paid on Friday, June 30th. Investors of record on Friday, June 9th were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date was Wednesday, June 7th. Dick’s Sporting Goods’s payout ratio is currently 26.25%.
Large investors have recently bought and sold shares of the stock. BlackRock Inc. raised its stake in Dick’s Sporting Goods by 2,879.3% in the first quarter. BlackRock Inc. now owns 8,515,919 shares of the sporting goods retailer’s stock worth $414,382,000 after buying an additional 8,230,087 shares during the last quarter. OZ Management LP bought a new stake in Dick’s Sporting Goods during the first quarter worth about $86,412,000. Renaissance Technologies LLC raised its stake in Dick’s Sporting Goods by 424.3% in the first quarter. Renaissance Technologies LLC now owns 2,054,600 shares of the sporting goods retailer’s stock worth $99,977,000 after buying an additional 1,662,700 shares during the last quarter. SRS Investment Management LLC bought a new stake in Dick’s Sporting Goods during the first quarter worth about $72,194,000. Finally, TIAA CREF Investment Management LLC raised its stake in Dick’s Sporting Goods by 342.8% in the first quarter. TIAA CREF Investment Management LLC now owns 1,548,807 shares of the sporting goods retailer’s stock worth $75,365,000 after buying an additional 1,199,058 shares during the last quarter. 78.90% of the stock is currently owned by hedge funds and other institutional investors.
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About Dick’s Sporting Goods
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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