Brokers Issue Forecasts for DICK’S Sporting Goods, Inc.’s FY2023 Earnings (NYSE:DKS)

DICK’S Sporting Goods, Inc. (NYSE:DKSGet Rating) – Oppenheimer boosted their FY2023 earnings per share estimates for DICK’S Sporting Goods in a note issued to investors on Wednesday, November 23rd. Oppenheimer analyst B. Nagel now expects that the sporting goods retailer will earn $11.65 per share for the year, up from their previous estimate of $11.11. Oppenheimer currently has a “Outperform” rating and a $138.00 target price on the stock. The consensus estimate for DICK’S Sporting Goods’ current full-year earnings is $11.89 per share.

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

Several other equities research analysts have also recently issued reports on DKS. DA Davidson boosted their price target on DICK’S Sporting Goods from $130.00 to $136.00 in a research note on Wednesday. StockNews.com initiated coverage on DICK’S Sporting Goods in a research note on Wednesday, October 12th. They issued a “hold” rating for the company. Robert W. Baird upped their target price on DICK’S Sporting Goods from $115.00 to $120.00 in a research note on Tuesday. Bank of America upped their target price on DICK’S Sporting Goods from $105.00 to $125.00 and gave the stock a “buy” rating in a research note on Friday, August 19th. Finally, Wedbush upped their target price on DICK’S Sporting Goods from $130.00 to $140.00 and gave the stock an “outperform” rating in a research note on Wednesday. Five investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $135.16.

DICK’S Sporting Goods Trading Up 1.0 %

Shares of DKS stock opened at $118.98 on Thursday. The company has a current ratio of 1.81, a quick ratio of 0.75 and a debt-to-equity ratio of 0.69. The stock has a market cap of $9.42 billion, a P/E ratio of 10.50, a price-to-earnings-growth ratio of 1.98 and a beta of 1.46. The stock has a 50 day simple moving average of $110.13 and a 200 day simple moving average of $98.03. DICK’S Sporting Goods has a 1 year low of $63.45 and a 1 year high of $132.75.

Institutional Trading of DICK’S Sporting Goods

A number of institutional investors and hedge funds have recently bought and sold shares of DKS. Steward Partners Investment Advisory LLC increased its holdings in DICK’S Sporting Goods by 17.6% in the first quarter. Steward Partners Investment Advisory LLC now owns 1,035 shares of the sporting goods retailer’s stock valued at $103,000 after purchasing an additional 155 shares during the period. Envestnet Asset Management Inc. grew its holdings in DICK’S Sporting Goods by 14.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 110,631 shares of the sporting goods retailer’s stock worth $11,065,000 after acquiring an additional 13,660 shares during the period. ClariVest Asset Management LLC grew its holdings in DICK’S Sporting Goods by 4.1% during the 1st quarter. ClariVest Asset Management LLC now owns 268,352 shares of the sporting goods retailer’s stock worth $26,840,000 after acquiring an additional 10,600 shares during the period. Advisor Group Holdings Inc. grew its holdings in DICK’S Sporting Goods by 27.9% during the 1st quarter. Advisor Group Holdings Inc. now owns 35,495 shares of the sporting goods retailer’s stock worth $3,160,000 after acquiring an additional 7,736 shares during the period. Finally, Russell Investments Group Ltd. grew its holdings in DICK’S Sporting Goods by 86.9% during the 1st quarter. Russell Investments Group Ltd. now owns 128,881 shares of the sporting goods retailer’s stock worth $12,889,000 after acquiring an additional 59,911 shares during the period. 78.85% of the stock is currently owned by institutional investors and hedge funds.

DICK’S Sporting Goods Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 30th. Investors of record on Friday, December 9th will be issued a $0.488 dividend. The ex-dividend date of this dividend is Thursday, December 8th. This represents a $1.95 dividend on an annualized basis and a yield of 1.64%. DICK’S Sporting Goods’s payout ratio is 17.21%.

About DICK’S Sporting Goods

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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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