Dicks Sporting Goods Inc (DKS) Raises Dividend to $0.23 Per Share

Dicks Sporting Goods Inc (NYSE:DKS) announced a quarterly dividend on Thursday, February 15th, RTT News reports. Shareholders of record on Friday, March 9th will be paid a dividend of 0.225 per share by the sporting goods retailer on Friday, March 30th. This represents a $0.90 dividend on an annualized basis and a yield of 2.65%. This is a boost from Dicks Sporting Goods’s previous quarterly dividend of $0.17.

Dicks Sporting Goods has increased its dividend by an average of 10.8% annually over the last three years and has raised its dividend annually for the last 3 consecutive years. Dicks Sporting Goods has a dividend payout ratio of 22.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Dicks Sporting Goods to earn $2.78 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 24.5%.

Shares of Dicks Sporting Goods (NYSE DKS) opened at $34.01 on Thursday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.61 and a quick ratio of 0.25. The company has a market capitalization of $3,610.00, a PE ratio of 12.43, a price-to-earnings-growth ratio of 1.91 and a beta of 0.61. Dicks Sporting Goods has a 1 year low of $23.88 and a 1 year high of $52.89.

Dicks Sporting Goods (NYSE:DKS) last issued its quarterly earnings results on Tuesday, November 14th. The sporting goods retailer reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.04. The business had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.90 billion. Dicks Sporting Goods had a return on equity of 17.95% and a net margin of 3.54%. The business’s quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.48 earnings per share. sell-side analysts expect that Dicks Sporting Goods will post 2.99 EPS for the current year.

A number of analysts have commented on the company. BMO Capital Markets set a $40.00 price target on Dicks Sporting Goods and gave the stock a “buy” rating in a research report on Thursday, January 11th. Cowen restated a “hold” rating and issued a $28.00 price target on shares of Dicks Sporting Goods in a research report on Friday, November 3rd. Telsey Advisory Group upgraded Dicks Sporting Goods from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $25.00 to $42.00 in a research report on Thursday, January 25th. Citigroup reduced their price target on Dicks Sporting Goods from $30.00 to $28.00 and set a “neutral” rating for the company in a research report on Thursday, November 16th. Finally, Zacks Investment Research upgraded Dicks Sporting Goods from a “hold” rating to a “buy” rating and set a $36.00 price target for the company in a research report on Wednesday, January 31st. Three research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have assigned a buy rating to the company. Dicks Sporting Goods has an average rating of “Hold” and an average price target of $33.88.

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About Dicks 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.

Dividend History for Dicks Sporting Goods (NYSE:DKS)

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