Telsey Advisory Group Equities Analysts Increase Earnings Estimates for DICK’S Sporting Goods, Inc. (NYSE:DKS)

Posted by Defense World Staff on Mar 11th, 2023

DICK’S Sporting Goods, Inc. (NYSE:DKS – Get Rating) – Equities researchers at Telsey Advisory Group increased their Q1 2024 earnings per share (EPS) estimates for shares of DICK’S Sporting Goods in a research note issued to investors on Wednesday, March 8th. Telsey Advisory Group analyst J. Feldman now anticipates that the sporting goods retailer will earn $2.95 per share for the quarter, up from their prior forecast of $2.73. Telsey Advisory Group currently has a “Outperform” rating and a $135.00 target price on the stock. The consensus estimate for DICK’S Sporting Goods’ current full-year earnings is $13.58 per share. Telsey Advisory Group also issued estimates for DICK’S Sporting Goods’ Q2 2024 earnings at $3.94 EPS, Q4 2024 earnings at $3.88 EPS, FY2024 earnings at $13.61 EPS, Q1 2025 earnings at $3.10 EPS and Q2 2025 earnings at $4.20 EPS.

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

Several other brokerages also recently commented on DKS. Bank of America raised their price objective on DICK’S Sporting Goods from $145.00 to $170.00 and gave the stock a “buy” rating in a research note on Wednesday. Wells Fargo & Company raised their price objective on DICK’S Sporting Goods from $103.00 to $120.00 in a research note on Wednesday, November 23rd. Loop Capital raised their price objective on DICK’S Sporting Goods from $130.00 to $150.00 and gave the stock a “hold” rating in a research note on Thursday. Oppenheimer raised their price objective on DICK’S Sporting Goods from $138.00 to $175.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, Evercore ISI raised their price objective on DICK’S Sporting Goods from $160.00 to $200.00 and gave the stock an “outperform” rating in a research note on Wednesday. Nine investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $155.32.

DICK’S Sporting Goods Stock Performance

Shares of DICK’S Sporting Goods stock opened at $146.27 on Friday. The company has a market capitalization of $11.58 billion, a PE ratio of 13.58, a PEG 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 has a current ratio of 1.88, a quick ratio of 0.59 and a debt-to-equity ratio of 0.61. The stock’s fifty day simple moving average is $130.10 and its 200 day simple moving average is $118.24.

Institutional Investors Weigh In On DICK’S Sporting Goods

Several hedge funds have recently bought and sold shares of DKS. Balyasny Asset Management LLC lifted its position in DICK’S Sporting Goods by 6,908.1% during the third quarter. Balyasny Asset Management LLC now owns 1,244,493 shares of the sporting goods retailer’s stock worth $130,224,000 after acquiring an additional 1,226,735 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of DICK’S Sporting Goods by 1,226.2% in the second quarter. Renaissance Technologies LLC now owns 1,209,479 shares of the sporting goods retailer’s stock valued at $91,158,000 after buying an additional 1,118,279 shares in the last quarter. Samlyn Capital LLC raised its position in shares of DICK’S Sporting Goods by 179.0% in the third quarter. Samlyn Capital LLC now owns 1,179,258 shares of the sporting goods retailer’s stock valued at $123,397,000 after buying an additional 756,539 shares in the last quarter. CIBC Private Wealth Group LLC raised its position in shares of DICK’S Sporting Goods by 116.7% in the fourth quarter. CIBC Private Wealth Group LLC now owns 1,174,456 shares of the sporting goods retailer’s stock valued at $141,275,000 after buying an additional 632,420 shares in the last quarter. Finally, AQR Capital Management LLC raised its position in shares of DICK’S Sporting Goods by 155.1% in the second quarter. AQR Capital Management LLC now owns 636,689 shares of the sporting goods retailer’s stock valued at $47,446,000 after buying an additional 387,139 shares in the last quarter. 75.08% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related 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 transaction, the executive vice president now owns 48,260 shares in the company, valued at $5,425,871.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 32.83% of the stock is owned by corporate insiders.

DICK’S Sporting Goods Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Friday, March 17th will be issued a $1.00 dividend. This is a boost from DICK’S Sporting Goods’s previous quarterly dividend of $0.49. The ex-dividend date is Thursday, March 16th. This represents a $4.00 annualized dividend and a dividend yield of 2.73%. DICK’S Sporting Goods’s dividend payout ratio (DPR) is presently 18.11%.

About DICK’S Sporting Goods

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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.