DICK’S Sporting Goods, Inc. (NYSE:DKS) Forecasted to Earn Q2 2024 Earnings of $3.79 Per Share

DICK’S Sporting Goods, Inc. (NYSE:DKS – Get Rating) – Stock analysts at Telsey Advisory Group dropped their Q2 2024 EPS estimates for shares of DICK’S Sporting Goods in a note issued to investors on Friday, May 19th. Telsey Advisory Group analyst J. Feldman now anticipates that the sporting goods retailer will post earnings per share of $3.79 for the quarter, down from their prior estimate of $3.81. Telsey Advisory Group currently has a “Outperform” rating and a $165.00 target price on the stock. The consensus estimate for DICK’S Sporting Goods’ current full-year earnings is $13.50 per share. Telsey Advisory Group also issued estimates for DICK’S Sporting Goods’ Q4 2024 earnings at $3.60 EPS, Q1 2025 earnings at $3.20 EPS, Q2 2025 earnings at $4.12 EPS, Q3 2025 earnings at $3.07 EPS and Q4 2025 earnings at $3.71 EPS.

DICK’S Sporting Goods (NYSE:DKS – Get Rating) last announced its earnings results on Tuesday, March 7th. The sporting goods retailer reported $2.93 earnings per share for the quarter, topping analysts’ consensus estimates of $2.86 by $0.07. The company had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.45 billion. DICK’S Sporting Goods had a net margin of 8.43% and a return on equity of 45.97%. The company’s revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the firm posted $3.64 earnings per share.

Other analysts have also issued reports about the stock. Loop Capital upped their price target on shares of DICK’S Sporting Goods from $130.00 to $150.00 and gave the stock a “hold” rating in a research report on Thursday, March 9th. Cowen increased their price objective on shares of DICK’S Sporting Goods from $155.00 to $166.00 in a research report on Monday, February 6th. Morgan Stanley increased their price objective on shares of 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. JPMorgan Chase & Co. increased their price objective on shares of DICK’S Sporting Goods from $125.00 to $148.00 and gave the company a “neutral” rating in a research report on Wednesday, March 8th. Finally, Wedbush increased their price objective on shares of DICK’S Sporting Goods from $140.00 to $155.00 and gave the company an “outperform” rating in a research report on Wednesday, March 8th. Ten investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $156.61.

DICK’S Sporting Goods Stock Performance

Shares of DKS stock opened at $126.67 on Monday. The company’s fifty day simple moving average is $141.20 and its 200-day simple moving average is $129.06. The company has a quick ratio of 0.81, a current ratio of 1.88 and a debt-to-equity ratio of 0.61. The firm has a market cap of $10.85 billion, a PE ratio of 11.76, a P/E/G ratio of 1.85 and a beta of 1.44. DICK’S Sporting Goods has a 12 month low of $63.45 and a 12 month high of $152.61.

Institutional Trading of DICK’S Sporting Goods

Several institutional investors have recently bought and sold shares of the business. Balyasny Asset Management LLC raised its position in DICK’S Sporting Goods by 6,908.1% in the third quarter. Balyasny Asset Management LLC now owns 1,244,493 shares of the sporting goods retailer’s stock valued at $130,224,000 after purchasing an additional 1,226,735 shares during the period. Samlyn Capital LLC raised its position in DICK’S Sporting Goods by 179.0% in the third quarter. Samlyn Capital LLC now owns 1,179,258 shares of the sporting goods retailer’s stock valued at $123,397,000 after purchasing an additional 756,539 shares during the period. BlackRock Inc. grew its stake in shares of DICK’S Sporting Goods by 12.1% in 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 in the last quarter. CIBC Private Wealth Group LLC grew its stake in shares of DICK’S Sporting Goods by 116.7% in the fourth quarter. CIBC Private Wealth Group LLC now owns 1,174,456 shares of the sporting goods retailer’s stock valued at $141,275,000 after buying an additional 632,420 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its stake in shares of 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 valued at $7,918,000 after buying an additional 428,593 shares in the last quarter. 75.08% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at DICK’S Sporting Goods

In other DICK’S Sporting Goods news, CFO Navdeep Gupta sold 19,203 shares of the stock in a transaction dated Friday, March 24th. The stock was sold at an average price of $138.14, for a total value of $2,652,702.42. Following the completion of the sale, the chief financial officer now directly owns 104,884 shares in the company, valued at $14,488,675.76. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, CEO Lauren R. Hobart sold 83,392 shares of the firm’s stock in a transaction dated Monday, March 13th. The stock was sold at an average price of $145.21, for a total transaction of $12,109,352.32. Following the sale, the chief executive officer now directly owns 233,269 shares of the company’s stock, valued at $33,872,991.49. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Navdeep Gupta sold 19,203 shares of the firm’s stock in a transaction dated Friday, March 24th. The stock was 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 $14,488,675.76. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 285,382 shares of company stock worth $41,042,070. 30.79% of the stock is owned by insiders.

DICK’S Sporting Goods Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 31st. Shareholders of record on Friday, March 17th were paid a $1.00 dividend. The ex-dividend date of this dividend was Thursday, March 16th. This is a boost from DICK’S Sporting Goods’s previous quarterly dividend of $0.49. This represents a $4.00 dividend on an annualized basis and a yield of 3.16%. DICK’S Sporting Goods’s dividend payout ratio (DPR) is 37.14%.

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.