DICK’S Sporting Goods (NYSE:DKS) Posts Quarterly Earnings Results

DICK’S Sporting Goods (NYSE:DKS) posted its earnings results on Wednesday. The sporting goods retailer reported $4.37 earnings per share for the quarter, topping analysts’ consensus estimates of $3.77 by $0.60, Briefing.com reports. The business had revenue of $3.47 billion for the quarter, compared to analyst estimates of $3.44 billion. DICK’S Sporting Goods had a return on equity of 41.80% and a net margin of 7.73%. The firm’s revenue was up 7.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.82 EPS. DICK’S Sporting Goods updated its FY 2024 guidance to 13.550-13.900 EPS and its FY25 guidance to $13.55-$13.90 EPS.

DICK’S Sporting Goods Stock Performance

NYSE:DKS opened at $214.84 on Friday. The stock has a fifty day moving average price of $214.41 and a 200-day moving average price of $207.43. The company has a market cap of $17.51 billion, a price-to-earnings ratio of 17.79, a PEG ratio of 2.59 and a beta of 1.65. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.65 and a current ratio of 1.71. DICK’S Sporting Goods has a fifty-two week low of $100.98 and a fifty-two week high of $239.30.

DICK’S Sporting Goods Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 4th. Stockholders of record on Friday, September 20th will be given a dividend of $1.10 per share. The ex-dividend date of this dividend is Friday, September 20th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.05%. DICK’S Sporting Goods’s payout ratio is 36.42%.

Insider Activity

In related news, Director Desiree Ralls-Morrison sold 3,489 shares of the company’s stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $206.65, for a total transaction of $721,001.85. Following the completion of the sale, the director now directly owns 5,609 shares in the company, valued at approximately $1,159,099.85. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 32.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on DKS. Truist Financial boosted their target price on DICK’S Sporting Goods from $243.00 to $256.00 and gave the stock a “buy” rating in a report on Thursday, May 30th. Wedbush reissued a “neutral” rating and set a $250.00 target price on shares of DICK’S Sporting Goods in a report on Thursday. DA Davidson reissued a “buy” rating and set a $265.00 target price on shares of DICK’S Sporting Goods in a report on Thursday. Bank of America boosted their target price on DICK’S Sporting Goods from $240.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday. Finally, UBS Group boosted their target price on DICK’S Sporting Goods from $220.00 to $225.00 and gave the stock a “neutral” rating in a report on Monday, August 26th. Ten analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, DICK’S Sporting Goods has an average rating of “Moderate Buy” and a consensus target price of $244.43.

DICK’S Sporting Goods Company Profile

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