DICK’S Sporting Goods (NYSE:DKS – Get Rating) posted its quarterly earnings results on Wednesday. The sporting goods retailer reported $2.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.42 by $0.43, MarketWatch Earnings reports. The firm had revenue of $2.70 billion for the quarter, compared to analyst estimates of $2.63 billion. DICK’S Sporting Goods had a net margin of 12.36% and a return on equity of 60.28%. The firm’s quarterly revenue was down 7.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.79 earnings per share. DICK’S Sporting Goods updated its FY23 guidance to $9.15-11.70 EPS and its FY 2022 guidance to $9.15-$11.70 EPS.
Shares of NYSE:DKS traded up $6.56 on Wednesday, hitting $77.80. 634,136 shares of the company were exchanged, compared to its average volume of 1,874,205. The company’s 50 day moving average price is $99.15 and its two-hundred day moving average price is $108.57. DICK’S Sporting Goods has a one year low of $69.65 and a one year high of $147.39. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.04 and a current ratio of 1.88. The firm has a market capitalization of $6.21 billion, a price-to-earnings ratio of 5.52, a PEG ratio of 1.26 and a beta of 1.60.
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 25th. Stockholders of record on Friday, March 18th were issued a dividend of $0.488 per share. This is an increase from DICK’S Sporting Goods’s previous quarterly dividend of $0.44. The ex-dividend date was Thursday, March 17th. This represents a $1.95 annualized dividend and a dividend yield of 2.51%. DICK’S Sporting Goods’s payout ratio is presently 14.05%.
Several hedge funds have recently made changes to their positions in DKS. Point72 Hong Kong Ltd raised its stake in shares of DICK’S Sporting Goods by 188.8% during the first quarter. Point72 Hong Kong Ltd now owns 797 shares of the sporting goods retailer’s stock worth $80,000 after buying an additional 521 shares during the last quarter. Covestor Ltd increased its stake in DICK’S Sporting Goods by 118.7% in the first quarter. Covestor Ltd now owns 912 shares of the sporting goods retailer’s stock valued at $91,000 after purchasing an additional 495 shares in the last quarter. Canada Pension Plan Investment Board increased its stake in DICK’S Sporting Goods by 104.7% in the fourth quarter. Canada Pension Plan Investment Board now owns 1,523 shares of the sporting goods retailer’s stock valued at $175,000 after purchasing an additional 779 shares in the last quarter. Forum Financial Management LP bought a new stake in DICK’S Sporting Goods in the fourth quarter valued at approximately $221,000. Finally, Edgestream Partners L.P. bought a new stake in DICK’S Sporting Goods in the first quarter valued at approximately $261,000. Institutional investors own 78.92% of the company’s stock.
A number of equities analysts recently commented on the stock. Cowen raised their price objective on shares of DICK’S Sporting Goods from $161.00 to $165.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 9th. StockNews.com assumed coverage on shares of DICK’S Sporting Goods in a research note on Thursday, March 31st. They set a “hold” rating for the company. Zacks Investment Research lowered shares of DICK’S Sporting Goods from a “buy” rating to a “hold” rating and set a $108.00 target price for the company. in a research note on Monday, May 2nd. Bank of America decreased their target price on shares of DICK’S Sporting Goods from $160.00 to $130.00 and set a “buy” rating for the company in a research note on Tuesday. Finally, Stephens decreased their target price on shares of DICK’S Sporting Goods from $138.00 to $122.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 9th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $138.82.
DICK’S Sporting Goods Company Profile (Get Rating)
DICK'S Sporting Goods, Inc, together with its subsidiaries, operates as a sporting goods retailer primarily in the eastern United States. The company provides hardlines, including sporting goods equipment, fitness equipment, golf equipment, and hunting and fishing gear products; apparel; and footwear and accessories.
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