DICK’S Sporting Goods (NYSE:DKS) Releases FY24 Earnings Guidance

DICK’S Sporting Goods (NYSE:DKS – Get Rating) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $12.90-13.80 for the period, compared to the consensus estimate of $13.40.

DICK’S Sporting Goods Price Performance

Shares of DICK’S Sporting Goods stock opened at $122.36 on Friday. The stock has a market cap of $10.48 billion, a P/E ratio of 10.46, a P/E/G ratio of 1.69 and a beta of 1.44. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.81 and a current ratio of 1.96. The stock’s fifty day moving average is $139.39 and its 200 day moving average is $129.17. DICK’S Sporting Goods has a one year low of $70.21 and a one year high of $152.61.

DICK’S Sporting Goods (NYSE:DKS – Get Rating) last posted its quarterly earnings data on Tuesday, May 23rd. The sporting goods retailer reported $3.40 EPS for the quarter, topping the consensus estimate of $3.22 by $0.18. The firm had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.80 billion. DICK’S Sporting Goods had a return on equity of 45.52% and a net margin of 8.69%. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter last year, the company earned $2.85 earnings per share. Sell-side analysts anticipate that DICK’S Sporting Goods will post 13.46 earnings per share for the current year.

DICK’S Sporting Goods Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Friday, June 16th will be paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.27%. The ex-dividend date of this dividend is Thursday, June 15th. DICK’S Sporting Goods’s dividend payout ratio (DPR) is 34.19%.

Analysts Set New Price Targets

DKS has been the topic of several research analyst reports. Morgan Stanley boosted their price objective on DICK’S Sporting Goods from $165.00 to $175.00 and gave the company an overweight rating in a research report on Wednesday, March 8th. Williams Trading lowered shares of DICK’S Sporting Goods from a buy rating to a hold rating in a report on Monday, February 13th. Evercore ISI boosted their target price on shares of DICK’S Sporting Goods from $160.00 to $200.00 and gave the stock an outperform rating in a report on Wednesday, March 8th. Wedbush raised their target price on shares of DICK’S Sporting Goods from $140.00 to $155.00 and gave the company an outperform rating in a research note on Wednesday, March 8th. Finally, Gordon Haskett boosted their price target on shares of DICK’S Sporting Goods from $135.00 to $170.00 in a research note on Tuesday, March 7th. Nine research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, DICK’S Sporting Goods currently has a consensus rating of Moderate Buy and an average price target of $156.43.

Insider Activity

In other DICK’S Sporting Goods news, CFO Navdeep Gupta sold 19,203 shares of the firm’s stock in a transaction on Friday, March 24th. The stock was sold at an average price of $138.14, for a total transaction of $2,652,702.42. Following the transaction, the chief financial officer now directly owns 104,884 shares in the company, valued at approximately $14,488,675.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Anne Fink sold 3,174 shares of DICK’S Sporting Goods stock in a transaction that occurred on Thursday, April 6th. The shares were sold at an average price of $139.08, for a total transaction of $441,439.92. Following the transaction, the director now directly owns 14,481 shares of the company’s stock, valued at $2,014,017.48. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Navdeep Gupta sold 19,203 shares of the stock in a transaction on Friday, March 24th. The shares were sold at an average price of $138.14, for a total value of $2,652,702.42. Following the sale, the chief financial officer now directly owns 104,884 shares in the company, valued at approximately $14,488,675.76. The disclosure for this sale can be found here. Over the last quarter, insiders sold 285,382 shares of company stock valued at $41,042,070. Corporate insiders own 30.79% of the company’s stock.

Institutional Investors Weigh In On DICK’S Sporting Goods

A number of institutional investors have recently added to or reduced their stakes in DKS. BlackRock Inc. lifted its position in shares of DICK’S Sporting Goods by 12.1% during the first quarter. BlackRock Inc. now owns 5,983,808 shares of the sporting goods retailer’s stock valued at $849,043,000 after buying an additional 644,609 shares during the last quarter. Envestnet Asset Management Inc. grew its holdings in DICK’S Sporting Goods by 1,168.3% in the first quarter. Envestnet Asset Management Inc. now owns 465,279 shares of the sporting goods retailer’s stock worth $7,918,000 after purchasing an additional 428,593 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of DICK’S Sporting Goods by 99.0% during the first quarter. Renaissance Technologies LLC now owns 539,800 shares of the sporting goods retailer’s stock worth $76,592,000 after purchasing an additional 268,600 shares in the last quarter. Squarepoint Ops LLC lifted its holdings in shares of DICK’S Sporting Goods by 38.4% during the 4th quarter. Squarepoint Ops LLC now owns 679,115 shares of the sporting goods retailer’s stock valued at $81,691,000 after purchasing an additional 188,409 shares during the last quarter. Finally, AQR Capital Management LLC grew its stake in DICK’S Sporting Goods by 83.3% during the 1st quarter. AQR Capital Management LLC now owns 333,842 shares of the sporting goods retailer’s stock worth $45,983,000 after buying an additional 151,759 shares during the last quarter. Institutional investors own 75.08% of the company’s stock.

DICK’S Sporting Goods Company Profile

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Dick’s Sporting Goods, Inc engages in the retailing of an extensive assortment of authentic sports equipment, apparel, footwear, and accessories. It also offers its products both online and through mobile applications. The company was founded by Richard T. Stack in 1948 and is headquartered in Coraopolis, PA.