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

DICK’S Sporting Goods (NYSE:DKS) announced its quarterly earnings data on Wednesday. The sporting goods retailer reported $4.37 earnings per share for the quarter, beating the consensus estimate of $3.77 by $0.60, Briefing.com reports. The firm had revenue of $3.47 billion during the quarter, compared to analysts’ expectations of $3.44 billion. DICK’S Sporting Goods had a return on equity of 41.80% and a net margin of 7.73%. The company’s quarterly 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

Shares of DKS opened at $214.85 on Friday. The company has a quick ratio of 0.65, a current ratio of 1.71 and a debt-to-equity ratio of 0.55. The stock has a market cap of $17.51 billion, a P/E ratio of 17.79, a P/E/G ratio of 2.59 and a beta of 1.65. The business’s 50 day moving average price is $214.41 and its 200-day moving average price is $207.43. DICK’S Sporting Goods has a 52 week low of $100.98 and a 52 week high of $239.30.

DICK’S Sporting Goods Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Citigroup lowered their target price on DICK’S Sporting Goods from $243.00 to $230.00 and set a “neutral” rating for the company in a research report on Thursday. JPMorgan Chase & Co. upped their target price on DICK’S Sporting Goods from $197.00 to $211.00 and gave the company a “neutral” rating in a report on Thursday, May 30th. Robert W. Baird reissued a “neutral” rating and set a $235.00 target price on shares of DICK’S Sporting Goods in a research report on Wednesday, August 28th. TD Cowen boosted their price target on shares of DICK’S Sporting Goods from $266.00 to $270.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, DA Davidson reissued a “buy” rating and set a $265.00 target price on shares of DICK’S Sporting Goods in a research note on Thursday. Ten research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $244.43.

Insiders Place Their Bets

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

About DICK’S Sporting Goods

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.