DA Davidson Comments on DICK’S Sporting Goods, Inc.’s FY2023 Earnings (NYSE:DKS)

DICK’S Sporting Goods, Inc. (NYSE:DKSGet Rating) – Research analysts at DA Davidson boosted their FY2023 earnings per share (EPS) estimates for DICK’S Sporting Goods in a research report issued to clients and investors on Wednesday, November 23rd. DA Davidson analyst M. Baker now anticipates that the sporting goods retailer will earn $11.85 per share for the year, up from their prior forecast of $11.31. The consensus estimate for DICK’S Sporting Goods’ current full-year earnings is $11.89 per share. DA Davidson also issued estimates for DICK’S Sporting Goods’ Q4 2023 earnings at $2.67 EPS.

DICK’S Sporting Goods (NYSE:DKSGet Rating) last announced its earnings results on Tuesday, August 23rd. The sporting goods retailer reported $3.68 EPS for the quarter, beating analysts’ consensus estimates of $3.53 by $0.15. DICK’S Sporting Goods had a return on equity of 52.43% and a net margin of 9.52%. The business had revenue of $3.11 billion during the quarter, compared to analysts’ expectations of $3.07 billion. During the same quarter in the prior year, the firm earned $5.08 earnings per share. The business’s revenue was down 5.0% compared to the same quarter last year.

A number of other equities analysts have also recently commented on DKS. Oppenheimer raised DICK’S Sporting Goods from a “market perform” rating to an “outperform” rating and set a $138.00 target price for the company in a report on Thursday, October 20th. The Goldman Sachs Group upped their price target on DICK’S Sporting Goods from $105.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, August 24th. Telsey Advisory Group upped their price target on DICK’S Sporting Goods from $125.00 to $135.00 and gave the company an “outperform” rating in a research report on Wednesday. Wedbush upped their price target on DICK’S Sporting Goods from $130.00 to $140.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, Citigroup upped their price target on DICK’S Sporting Goods from $136.00 to $143.00 and gave the company a “buy” rating in a research report on Wednesday. Five investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $135.16.

DICK’S Sporting Goods Price Performance

Shares of DICK’S Sporting Goods stock opened at $118.98 on Thursday. The business has a 50 day simple moving average of $110.23 and a two-hundred day simple moving average of $98.18. DICK’S Sporting Goods has a 12 month low of $63.45 and a 12 month high of $132.75. The stock has a market capitalization of $9.42 billion, a P/E ratio of 10.50, a PEG ratio of 1.98 and a beta of 1.46. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.81 and a quick ratio of 0.75.

DICK’S Sporting Goods Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 30th. Stockholders of record on Friday, December 9th will be given a dividend of $0.488 per share. The ex-dividend date of this dividend is Thursday, December 8th. This represents a $1.95 annualized dividend and a dividend yield of 1.64%. DICK’S Sporting Goods’s dividend payout ratio is currently 17.21%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Symmetry Partners LLC boosted its position in shares of DICK’S Sporting Goods by 1.1% during the third quarter. Symmetry Partners LLC now owns 8,648 shares of the sporting goods retailer’s stock worth $905,000 after buying an additional 92 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA boosted its holdings in DICK’S Sporting Goods by 0.5% in the third quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 23,629 shares of the sporting goods retailer’s stock valued at $2,473,000 after purchasing an additional 106 shares during the period. Hennion & Walsh Asset Management Inc. boosted its holdings in DICK’S Sporting Goods by 1.6% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 7,246 shares of the sporting goods retailer’s stock valued at $546,000 after purchasing an additional 113 shares during the period. Cullen Frost Bankers Inc. boosted its holdings in DICK’S Sporting Goods by 26.0% in the third quarter. Cullen Frost Bankers Inc. now owns 630 shares of the sporting goods retailer’s stock valued at $66,000 after purchasing an additional 130 shares during the period. Finally, CPR Investments Inc. boosted its holdings in DICK’S Sporting Goods by 2.6% in the first quarter. CPR Investments Inc. now owns 5,318 shares of the sporting goods retailer’s stock valued at $532,000 after purchasing an additional 136 shares during the period. 78.85% of the stock is currently owned by hedge funds and other institutional investors.

DICK’S Sporting Goods Company Profile

(Get Rating)

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

Further Reading

Earnings History and Estimates for DICK'S Sporting Goods (NYSE:DKS)

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