Forward View Analysts Boost Earnings Estimates for Dicks Sporting Goods Inc (DKS)
Dicks Sporting Goods Inc (NYSE:DKS) – Research analysts at Forward View lifted their Q1 2018 EPS estimates for shares of Dicks Sporting Goods in a research note issued on Monday. Forward View analyst N. Yates now expects that the sporting goods retailer will post earnings of $0.55 per share for the quarter, up from their prior estimate of $0.54. Forward View currently has a “Buy” rating and a $59.00 price target on the stock.
Dicks Sporting Goods (NYSE:DKS) last posted its earnings results on Tuesday, March 7th. The sporting goods retailer reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.30 by $0.02. The company had revenue of $2.48 billion for the quarter, compared to analysts’ expectations of $2.48 billion. Dicks Sporting Goods had a return on equity of 18.15% and a net margin of 4.25%. The firm’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same period last year, the business posted $1.13 earnings per share.
Several other equities analysts have also issued reports on the company. Goldman Sachs Group Inc raised Dicks Sporting Goods from a “neutral” rating to a “buy” rating and upped their price target for the company from $51.31 to $62.00 in a research note on Monday, January 30th. Monness Crespi & Hardt cut their price target on Dicks Sporting Goods from $66.00 to $60.00 and set a “buy” rating on the stock in a research note on Wednesday, March 8th. Zacks Investment Research lowered Dicks Sporting Goods from a “buy” rating to a “hold” rating in a research note on Tuesday, January 17th. CIBC reaffirmed a “market perform” rating on shares of Dicks Sporting Goods in a research note on Tuesday, February 21st. Finally, Wolfe Research raised Dicks Sporting Goods from a “peer perform” rating to an “outperform” rating and set a $59.00 price target on the stock in a research note on Tuesday, March 14th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and twenty-two have assigned a buy rating to the company. Dicks Sporting Goods presently has an average rating of “Buy” and an average price target of $61.77.
Dicks Sporting Goods (NYSE:DKS) traded down 0.44% during midday trading on Wednesday, reaching $51.61. The company’s stock had a trading volume of 866,291 shares. The firm has a market capitalization of $5.82 billion, a PE ratio of 20.16 and a beta of 0.65. Dicks Sporting Goods has a 1-year low of $37.96 and a 1-year high of $62.88. The firm has a 50 day moving average price of $49.04 and a 200 day moving average price of $53.66.
A number of hedge funds and other institutional investors have recently modified their holdings of DKS. AQR Capital Management LLC boosted its position in shares of Dicks Sporting Goods by 131.9% in the fourth quarter. AQR Capital Management LLC now owns 1,738,629 shares of the sporting goods retailer’s stock valued at $92,322,000 after buying an additional 988,823 shares during the period. Norges Bank bought a new position in shares of Dicks Sporting Goods during the fourth quarter valued at approximately $37,378,000. Discovery Capital Management LLC CT bought a new position in shares of Dicks Sporting Goods during the fourth quarter valued at approximately $32,152,000. Peregrine Capital Management LLC bought a new position in shares of Dicks Sporting Goods during the third quarter valued at approximately $24,156,000. Finally, Two Sigma Advisers LP boosted its position in shares of Dicks Sporting Goods by 667.0% in the third quarter. Two Sigma Advisers LP now owns 473,267 shares of the sporting goods retailer’s stock valued at $26,844,000 after buying an additional 411,562 shares during the period. 71.76% of the stock is owned by hedge funds and other institutional investors.
In related news, Director Emanuel Chirico sold 20,000 shares of the stock in a transaction that occurred on Friday, March 10th. The stock was sold at an average price of $48.73, for a total transaction of $974,600.00. Following the completion of the transaction, the director now directly owns 119,171 shares of the company’s stock, valued at $5,807,202.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Edward W. Stack sold 333,344 shares of the stock in a transaction that occurred 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 currently owned by company insiders.
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 31st. Investors of record on Friday, March 10th were issued a dividend of $0.17 per share. The ex-dividend date of this dividend was Wednesday, March 8th. This is an increase from Dicks Sporting Goods’s previous quarterly dividend of $0.15. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.31%. Dicks Sporting Goods’s dividend payout ratio (DPR) is presently 21.11%.
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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