Oppenheimer Weighs in on DICK’S Sporting Goods, Inc.’s FY2024 Earnings (NYSE:DKS)

DICK’S Sporting Goods, Inc. (NYSE:DKS – Get Rating) – Equities research analysts at Oppenheimer raised their FY2024 earnings estimates for shares of DICK’S Sporting Goods in a report issued on Wednesday, March 8th. Oppenheimer analyst B. Nagel now expects that the sporting goods retailer will post earnings per share of $12.68 for the year, up from their prior estimate of $8.31. Oppenheimer currently has a “Outperform” rating and a $175.00 target price on the stock. The consensus estimate for DICK’S Sporting Goods’ current full-year earnings is $13.58 per share. Oppenheimer also issued estimates for DICK’S Sporting Goods’ FY2025 earnings at $12.91 EPS and FY2026 earnings at $13.49 EPS.

Several other equities analysts also recently commented on the stock. Evercore ISI upped their price target on shares of DICK’S Sporting Goods from $160.00 to $200.00 and gave the company an “outperform” rating in a research note on Wednesday. Williams Trading cut shares of DICK’S Sporting Goods from a “buy” rating to a “hold” rating in a report on Monday, February 13th. Wells Fargo & Company raised their price objective on shares of DICK’S Sporting Goods from $103.00 to $120.00 in a report on Wednesday, November 23rd. Bank of America raised their price objective on shares of DICK’S Sporting Goods from $145.00 to $170.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Loop Capital increased their target price on shares of DICK’S Sporting Goods from $130.00 to $150.00 and gave the company a “hold” rating in a research report on Thursday. Nine equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $155.32.

DICK’S Sporting Goods Stock Performance

Shares of DKS stock opened at $146.27 on Friday. The firm has a market cap of $11.58 billion, a PE ratio of 13.58, a P/E/G ratio of 2.20 and a beta of 1.41. DICK’S Sporting Goods has a 12 month low of $63.45 and a 12 month high of $152.61. The company’s fifty day simple moving average is $130.10 and its 200-day simple moving average is $118.24. The company has a quick ratio of 0.59, a current ratio of 1.88 and a debt-to-equity ratio of 0.61.

DICK’S Sporting Goods (NYSE:DKS – Get Rating) last released its quarterly earnings data on Tuesday, March 7th. The sporting goods retailer reported $2.93 earnings per share for the quarter, topping the consensus estimate of $2.86 by $0.07. DICK’S Sporting Goods had a net margin of 8.43% and a return on equity of 45.97%. The business had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.45 billion. During the same quarter last year, the firm earned $3.64 EPS. DICK’S Sporting Goods’s quarterly revenue was up 7.3% compared to the same quarter last year.

DICK’S Sporting Goods Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Shareholders of record on Friday, March 17th will be issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date is Thursday, March 16th. This is a positive change from DICK’S Sporting Goods’s previous quarterly dividend of $0.49. DICK’S Sporting Goods’s payout ratio is presently 18.11%.

Insider Buying and Selling at DICK’S Sporting Goods

In other news, EVP Vladimir Rak sold 29,144 shares of DICK’S Sporting Goods stock in a transaction dated Wednesday, December 21st. The stock was sold at an average price of $112.43, for a total transaction of $3,276,659.92. Following the completion of the sale, the executive vice president now owns 48,260 shares in the company, valued at approximately $5,425,871.80. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 32.83% of the company’s stock.

Institutional Trading of DICK’S Sporting Goods

Hedge funds have recently bought and sold shares of the company. Heritage Wealth Management LLC lifted its position in DICK’S Sporting Goods by 100.0% in the 4th quarter. Heritage Wealth Management LLC now owns 216 shares of the sporting goods retailer’s stock worth $26,000 after buying an additional 108 shares during the last quarter. CoreCap Advisors LLC bought a new stake in DICK’S Sporting Goods in the 4th quarter worth approximately $39,000. Northern Oak Wealth Management Inc. bought a new stake in DICK’S Sporting Goods in the 2nd quarter worth approximately $51,000. Ronald Blue Trust Inc. lifted its position in DICK’S Sporting Goods by 761.9% in the fourth quarter. Ronald Blue Trust Inc. now owns 543 shares of the sporting goods retailer’s stock valued at $57,000 after purchasing an additional 480 shares during the last quarter. Finally, Godsey & Gibb Inc. bought a new stake in DICK’S Sporting Goods in the fourth quarter valued at approximately $60,000. Institutional investors own 75.08% of the company’s stock.

About DICK’S Sporting Goods

(Get Rating)

Dick’s Sporting Goods, Inc engages in the retail of an extensive assortment of authentic sports equipment, apparel, footwear, and accessories through a blend of associates, in-store services, and unique specialty shop-in-shops. The company was founded by Richard T. Stack in 1948 and is headquartered in Coraopolis, PA.