Q3 2024 EPS Estimates for DICK’S Sporting Goods, Inc. (NYSE:DKS) Cut by Wedbush

DICK’S Sporting Goods, Inc. (NYSE:DKS) – Stock analysts at Wedbush reduced their Q3 2024 earnings per share (EPS) estimates for shares of DICK’S Sporting Goods in a research report issued on Wednesday, August 23rd. Wedbush analyst S. Basham now forecasts that the sporting goods retailer will post earnings of $2.40 per share for the quarter, down from their previous forecast of $2.87. Wedbush currently has a “Neutral” rating and a $115.00 price target on the stock. The consensus estimate for DICK’S Sporting Goods’ current full-year earnings is $13.26 per share. Wedbush also issued estimates for DICK’S Sporting Goods’ Q4 2024 earnings at $3.03 EPS, FY2024 earnings at $11.65 EPS, Q2 2025 earnings at $2.98 EPS, Q3 2025 earnings at $2.44 EPS, Q4 2025 earnings at $2.93 EPS, FY2025 earnings at $11.31 EPS and FY2026 earnings at $12.18 EPS.

DICK’S Sporting Goods (NYSE:DKS) last posted its quarterly earnings data on Tuesday, August 22nd. The sporting goods retailer reported $2.82 EPS for the quarter, missing analysts’ consensus estimates of $3.76 by ($0.94). DICK’S Sporting Goods had a net margin of 8.03% and a return on equity of 40.52%. The business had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.24 billion. During the same quarter last year, the firm earned $3.68 earnings per share. The firm’s quarterly revenue was up 3.6% compared to the same quarter last year.

DKS has been the subject of several other research reports. Oppenheimer reduced their price target on shares of DICK’S Sporting Goods from $175.00 to $145.00 and set an “outperform” rating for the company in a research report on Wednesday. Bank of America cut DICK’S Sporting Goods from a “buy” rating to a “neutral” rating and reduced their target price for the company from $180.00 to $125.00 in a report on Wednesday. Morgan Stanley decreased their target price on DICK’S Sporting Goods from $175.00 to $150.00 and set an “overweight” rating on the stock in a research report on Wednesday. Telsey Advisory Group reiterated an “outperform” rating and set a $140.00 price target (down from $160.00) on shares of DICK’S Sporting Goods in a research report on Tuesday. Finally, UBS Group decreased their price objective on DICK’S Sporting Goods from $160.00 to $130.00 and set a “neutral” rating on the stock in a report on Wednesday. Thirteen research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, DICK’S Sporting Goods has a consensus rating of “Hold” and an average price target of $143.17.

DICK’S Sporting Goods Stock Performance

NYSE:DKS opened at $111.64 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.76 and a current ratio of 1.81. The stock has a market capitalization of $9.63 billion, a PE ratio of 9.91, a P/E/G ratio of 1.43 and a beta of 1.43. DICK’S Sporting Goods has a fifty-two week low of $98.01 and a fifty-two week high of $152.61. The company has a fifty day moving average of $135.59 and a two-hundred day moving average of $136.37.

DICK’S Sporting Goods Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be given a $1.00 dividend. The ex-dividend date is Thursday, September 14th. This represents a $4.00 dividend on an annualized basis and a yield of 3.58%. DICK’S Sporting Goods’s dividend payout ratio is currently 35.49%.

Insider Activity

In related news, CFO Navdeep Gupta sold 16,321 shares of the firm’s stock in a transaction dated Wednesday, June 7th. The stock was sold at an average price of $136.28, for a total transaction of $2,224,225.88. Following the completion of the sale, the chief financial officer now directly owns 97,012 shares of the company’s stock, valued at approximately $13,220,795.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP John Edward Hayes III sold 1,733 shares of the business’s stock in a transaction that occurred on Wednesday, June 7th. The shares were sold at an average price of $136.66, for a total value of $236,831.78. Following the sale, the senior vice president now directly owns 18,416 shares of the company’s stock, valued at approximately $2,516,730.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Navdeep Gupta sold 16,321 shares of the stock in a transaction that occurred on Wednesday, June 7th. The stock was sold at an average price of $136.28, for a total transaction of $2,224,225.88. Following the transaction, the chief financial officer now directly owns 97,012 shares of the company’s stock, valued at approximately $13,220,795.36. The disclosure for this sale can be found here. Corporate insiders own 30.79% of the company’s stock.

Institutional Trading of DICK’S Sporting Goods

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Virginia Retirement Systems ET AL acquired a new stake in shares of DICK’S Sporting Goods in the second quarter valued at $1,943,000. Comerica Bank purchased a new position in DICK’S Sporting Goods during the 2nd quarter valued at about $1,240,000. California State Teachers Retirement System grew its position in DICK’S Sporting Goods by 35.3% in the 2nd quarter. California State Teachers Retirement System now owns 98,697 shares of the sporting goods retailer’s stock valued at $13,047,000 after acquiring an additional 25,733 shares in the last quarter. Osaic Holdings Inc. increased its stake in DICK’S Sporting Goods by 11.8% during the second quarter. Osaic Holdings Inc. now owns 50,860 shares of the sporting goods retailer’s stock worth $6,751,000 after purchasing an additional 5,382 shares during the period. Finally, Teachers Retirement System of The State of Kentucky boosted its stake in shares of DICK’S Sporting Goods by 10.3% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 10,034 shares of the sporting goods retailer’s stock valued at $1,326,000 after purchasing an additional 938 shares during the period. Hedge funds and other institutional investors own 69.98% of the company’s stock.

DICK’S Sporting Goods Company Profile

DICK'S Sporting Goods, Inc, together with its subsidiaries, operates as a sporting goods retailer primarily in the United States. The company provides hardlines, includes sporting goods equipment, fitness equipment, golf equipment, and hunting and fishing gear products; apparel; and footwear and accessories.