DICK’S Sporting Goods (NYSE:DKS) Releases FY23 Earnings Guidance

DICK’S Sporting Goods (NYSE:DKSGet Rating) issued an update on its FY23 earnings guidance on Wednesday morning. The company provided EPS guidance of $9.15-11.70 for the period, compared to the consensus EPS estimate of $12.55. DICK’S Sporting Goods also updated its FY 2022 guidance to $9.15-$11.70 EPS.

DKS stock opened at $71.24 on Wednesday. The business’s 50-day moving average is $99.15 and its two-hundred day moving average is $108.57. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.04 and a current ratio of 1.88. DICK’S Sporting Goods has a fifty-two week low of $69.65 and a fifty-two week high of $147.39. The company has a market cap of $5.69 billion, a price-to-earnings ratio of 5.13, a P/E/G ratio of 1.26 and a beta of 1.60.

DICK’S Sporting Goods (NYSE:DKSGet Rating) last released its quarterly earnings results on Tuesday, March 8th. The sporting goods retailer reported $3.64 earnings per share for the quarter, beating the consensus estimate of $3.54 by $0.10. DICK’S Sporting Goods had a return on equity of 60.28% and a net margin of 12.36%. The business had revenue of $3.35 billion during the quarter, compared to analysts’ expectations of $3.31 billion. During the same quarter last year, the business posted $2.43 EPS. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. Equities analysts predict that DICK’S Sporting Goods will post 12.6 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 25th. Investors of record on Friday, March 18th were paid a $0.488 dividend. The ex-dividend date was Thursday, March 17th. This represents a $1.95 annualized dividend and a yield of 2.74%. This is a boost from DICK’S Sporting Goods’s previous quarterly dividend of $0.44. DICK’S Sporting Goods’s dividend payout ratio is 14.05%.

Several research firms have issued reports on DKS. Stephens cut their target price on DICK’S Sporting Goods from $138.00 to $122.00 and set an equal weight rating on the stock in a research note on Wednesday, March 9th. OTR Global lowered DICK’S Sporting Goods to a positive rating in a research report on Wednesday, May 18th. Bank of America lowered their price objective on DICK’S Sporting Goods from $160.00 to $130.00 and set a buy rating on the stock in a research report on Tuesday. Truist Financial increased their target price on DICK’S Sporting Goods from $168.00 to $180.00 and gave the company a buy rating in a research report on Wednesday, March 9th. Finally, Barclays decreased their target price on DICK’S Sporting Goods from $147.00 to $134.00 in a research report on Friday, April 1st. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Hold and an average price target of $138.82.

In other news, Director Mark J. Barrenechea sold 10,000 shares of DICK’S Sporting Goods stock in a transaction on Monday, April 11th. The stock was sold at an average price of $105.48, for a total value of $1,054,800.00. Following the completion of the sale, the director now directly owns 10,159 shares of the company’s stock, valued at approximately $1,071,571.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Lee J. Belitsky sold 30,578 shares of DICK’S Sporting Goods stock in a transaction on Monday, April 11th. The stock was sold at an average price of $107.57, for a total value of $3,289,275.46. Following the sale, the executive vice president now directly owns 223,628 shares of the company’s stock, valued at $24,055,663.96. The disclosure for this sale can be found here. Insiders sold a total of 190,886 shares of company stock worth $20,211,002 in the last ninety days. Insiders own 32.83% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Morgan Stanley grew its position in shares of DICK’S Sporting Goods by 27.7% in the second quarter. Morgan Stanley now owns 433,401 shares of the sporting goods retailer’s stock valued at $43,423,000 after purchasing an additional 93,962 shares during the last quarter. Canada Pension Plan Investment Board boosted its stake in shares of 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 buying an additional 779 shares during the period. Cetera Investment Advisers bought a new stake in shares of DICK’S Sporting Goods in the fourth quarter valued at approximately $484,000. MML Investors Services LLC lifted its stake in DICK’S Sporting Goods by 4.3% during the fourth quarter. MML Investors Services LLC now owns 10,582 shares of the sporting goods retailer’s stock worth $1,217,000 after purchasing an additional 440 shares during the last quarter. Finally, Marshall Wace LLP lifted its stake in DICK’S Sporting Goods by 29.7% during the fourth quarter. Marshall Wace LLP now owns 44,844 shares of the sporting goods retailer’s stock worth $5,157,000 after purchasing an additional 10,257 shares during the last quarter. Institutional investors and hedge funds own 78.92% of the company’s stock.

About DICK’S Sporting Goods (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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Earnings History and Estimates for DICK'S Sporting Goods (NYSE:DKS)

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