DICK’S Sporting Goods, Inc. Expected to Post Q2 2024 Earnings of $3.60 Per Share (NYSE:DKS)

DICK’S Sporting Goods, Inc. (NYSE:DKS – Get Rating) – Analysts at Wedbush decreased their Q2 2024 earnings estimates for shares of DICK’S Sporting Goods in a research note issued on Tuesday, May 23rd. Wedbush analyst S. Basham now forecasts that the sporting goods retailer will post earnings per share of $3.60 for the quarter, down from their prior forecast of $3.77. Wedbush currently has a “Outperform” rating and a $155.00 target price on the stock. The consensus estimate for DICK’S Sporting Goods’ current full-year earnings is $13.45 per share. Wedbush also issued estimates for DICK’S Sporting Goods’ FY2024 earnings at $13.53 EPS, Q1 2025 earnings at $2.83 EPS, Q2 2025 earnings at $3.84 EPS, Q3 2025 earnings at $3.05 EPS, Q4 2025 earnings at $3.77 EPS and FY2025 earnings at $13.49 EPS.

DICK’S Sporting Goods (NYSE:DKS – Get Rating) last posted its quarterly earnings results on Tuesday, May 23rd. The sporting goods retailer reported $3.40 EPS for the quarter, beating the consensus estimate of $3.22 by $0.18. The firm had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.80 billion. DICK’S Sporting Goods had a net margin of 8.69% and a return on equity of 45.52%. DICK’S Sporting Goods’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter last year, the firm posted $2.85 earnings per share.

Several other equities research analysts have also recently commented on the stock. Cowen boosted their price target on shares of DICK’S Sporting Goods from $155.00 to $166.00 in a research report on Monday, February 6th. JPMorgan Chase & Co. raised their price objective on shares of DICK’S Sporting Goods from $125.00 to $148.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 8th. Williams Trading downgraded shares of DICK’S Sporting Goods from a “buy” rating to a “hold” rating in a research note on Monday, February 13th. Bank of America boosted their price objective on shares of DICK’S Sporting Goods from $145.00 to $170.00 and gave the company a “buy” rating in a research report on Wednesday, March 8th. Finally, Jefferies Financial Group assumed coverage on shares of DICK’S Sporting Goods in a research note on Tuesday, March 14th. They issued a “hold” rating and a $155.00 price objective on the stock. Nine investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $156.43.

DICK’S Sporting Goods Stock Performance

Shares of DKS opened at $122.36 on Thursday. DICK’S Sporting Goods has a 1 year low of $70.21 and a 1 year high of $152.61. The company has a market cap of $10.48 billion, a price-to-earnings ratio of 10.46, a price-to-earnings-growth ratio of 1.71 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 firm has a fifty day moving average of $139.39 and a 200-day moving average of $129.17.

DICK’S Sporting Goods Announces Dividend

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

Insider Buying and Selling

In other news, SVP John Edward Hayes III sold 6,592 shares of DICK’S Sporting Goods stock in a transaction dated Friday, March 24th. The shares were sold at an average price of $138.00, for a total transaction of $909,696.00. Following the sale, the senior vice president now owns 21,965 shares of the company’s stock, valued at approximately $3,031,170. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other DICK’S Sporting Goods news, CEO Lauren R. Hobart sold 83,392 shares of the company’s stock in a transaction that occurred on Monday, March 13th. The shares were sold at an average price of $145.21, for a total transaction of $12,109,352.32. Following the completion of the sale, the chief executive officer now directly owns 233,269 shares of the company’s stock, valued at $33,872,991.49. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP John Edward Hayes III sold 6,592 shares of the company’s stock in a transaction that occurred on Friday, March 24th. The stock was sold at an average price of $138.00, for a total transaction of $909,696.00. Following the completion of the transaction, the senior vice president now owns 21,965 shares of the company’s stock, valued at $3,031,170. The disclosure for this sale can be found here. Insiders have sold a total of 285,382 shares of company stock worth $41,042,070 in the last 90 days. 30.79% of the stock is owned by company insiders.

Hedge Funds Weigh In On DICK’S Sporting Goods

A number of hedge funds and other institutional investors have recently modified their holdings of DKS. Balyasny Asset Management LLC lifted its position in DICK’S Sporting Goods by 6,908.1% during 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 last quarter. Samlyn Capital LLC increased its stake in DICK’S Sporting Goods by 179.0% in the 3rd quarter. Samlyn Capital LLC now owns 1,179,258 shares of the sporting goods retailer’s stock worth $123,397,000 after buying an additional 756,539 shares during the period. BlackRock Inc. increased its stake in DICK’S Sporting Goods by 12.1% in the 1st quarter. BlackRock Inc. now owns 5,983,808 shares of the sporting goods retailer’s stock worth $849,043,000 after buying an additional 644,609 shares during the period. CIBC Private Wealth Group LLC increased its position in DICK’S Sporting Goods by 116.7% during the 4th 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 purchasing an additional 632,420 shares during the period. Finally, Envestnet Asset Management Inc. increased its position in DICK’S Sporting Goods by 1,168.3% during the 1st quarter. Envestnet Asset Management Inc. now owns 465,279 shares of the sporting goods retailer’s stock valued at $7,918,000 after purchasing an additional 428,593 shares during the period. 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.