Dicks Sporting Goods Inc (DKS) Receives Outperform Rating from Telsey Advisory Group
Dicks Sporting Goods Inc (NYSE:DKS)‘s stock had its “outperform” rating reiterated by equities researchers at Telsey Advisory Group in a research note issued on Wednesday. They currently have a $52.00 price objective on the sporting goods retailer’s stock, down from their previous price objective of $67.00. Telsey Advisory Group’s price objective suggests a potential upside of 25.63% from the company’s previous close.
Several other research analysts have also weighed in on DKS. Oppenheimer Holdings Inc. reiterated a “hold” rating on shares of Dicks Sporting Goods in a research report on Saturday, May 13th. B. Riley reiterated a “buy” rating and issued a $64.00 price objective on shares of Dicks Sporting Goods in a research report on Monday, March 6th. Canaccord Genuity reiterated a “buy” rating and issued a $67.00 price objective on shares of Dicks Sporting Goods in a research report on Monday, May 8th. Goldman Sachs Group Inc lowered their price objective on Dicks Sporting Goods from $61.00 to $60.00 and set a “buy” rating for the company in a research report on Wednesday, March 8th. Finally, Cowen and Company reiterated an “outperform” rating and issued a $55.00 price objective (down from $66.00) on shares of Dicks Sporting Goods in a research report on Wednesday, March 8th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twenty-two have issued a buy rating to the stock. Dicks Sporting Goods currently has a consensus rating of “Buy” and an average target price of $58.30.
Dicks Sporting Goods (NYSE:DKS) traded down 1.28% during trading on Wednesday, reaching $40.86. The company had a trading volume of 1,335,955 shares. The firm has a market capitalization of $4.51 billion, a price-to-earnings ratio of 15.82 and a beta of 0.65. The company’s 50-day moving average is $49.45 and its 200 day moving average is $52.61. Dicks Sporting Goods has a 52 week low of $39.54 and a 52 week high of $62.88.
Dicks Sporting Goods (NYSE:DKS) last issued its quarterly earnings data on Tuesday, May 16th. The sporting goods retailer reported $0.54 earnings per share for the quarter, hitting the consensus estimate of $0.54. The company had revenue of $1.83 billion during the quarter, compared to analyst estimates of $1.83 billion. Dicks Sporting Goods had a return on equity of 18.15% and a net margin of 4.25%. The firm’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.50 earnings per share. Equities analysts anticipate that Dicks Sporting Goods will post $3.69 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Friday, June 9th will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date is Wednesday, June 7th. Dicks Sporting Goods’s dividend payout ratio is presently 21.11%.
In other Dicks Sporting Goods news, Director Emanuel Chirico sold 20,000 shares of the firm’s stock in a transaction on Friday, March 10th. The stock was sold at an average price of $48.73, for a total value of $974,600.00. Following the sale, the director now directly owns 119,171 shares in the company, valued at $5,807,202.83. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Edward W. Stack sold 333,344 shares of the firm’s stock in a transaction on Tuesday, March 14th. The shares were sold at an average price of $47.47, for a total value of $15,823,839.68. The disclosure for this sale can be found here. 22.96% of the stock is owned by company insiders.
Hedge funds have recently bought and sold shares of the stock. Thrivent Financial for Lutherans boosted its stake in Dicks Sporting Goods by 9.1% in the fourth quarter. Thrivent Financial for Lutherans now owns 15,060 shares of the sporting goods retailer’s stock worth $800,000 after buying an additional 1,250 shares in the last quarter. UBS Asset Management Americas Inc. boosted its stake in Dicks Sporting Goods by 69.4% in the fourth quarter. UBS Asset Management Americas Inc. now owns 437,486 shares of the sporting goods retailer’s stock worth $23,231,000 after buying an additional 179,276 shares in the last quarter. State Street Corp boosted its stake in Dicks Sporting Goods by 2.1% in the fourth quarter. State Street Corp now owns 3,175,758 shares of the sporting goods retailer’s stock worth $168,629,000 after buying an additional 63,958 shares in the last quarter. Carnegie Capital Asset Management LLC boosted its stake in Dicks Sporting Goods by 0.8% in the third quarter. Carnegie Capital Asset Management LLC now owns 40,501 shares of the sporting goods retailer’s stock worth $2,257,000 after buying an additional 328 shares in the last quarter. Finally, Cadence Capital Management LLC acquired a new stake in Dicks Sporting Goods during the fourth quarter worth $1,596,000. Institutional investors own 71.76% of the company’s stock.
About Dicks Sporting Goods
Dick’s Sporting Goods, Inc is an omni-channel sporting goods retailer offering an assortment of sports equipment, apparel, footwear and accessories in its specialty retail stores primarily in the eastern United States. The Company also owns and operates Golf Galaxy, Field & Stream and other specialty concept stores, and Dick’s Team Sports HQ, an all-in-one youth sports digital platform offering free league management services, mobile applications for scheduling, communications and live scorekeeping, custom uniforms and FanWear and access to donations and sponsorships.
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