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) – Investment analysts at Wedbush decreased their Q2 2024 earnings per share estimates for DICK’S Sporting Goods in a report issued on Tuesday, May 23rd. Wedbush analyst S. Basham now forecasts that the sporting goods retailer will earn $3.60 per share for the quarter, down from their previous estimate 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 earnings per share for the quarter, beating analysts’ consensus estimates of $3.22 by $0.18. The firm had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.80 billion. DICK’S Sporting Goods had a return on equity of 45.52% and a net margin of 8.69%. The business’s revenue was up 5.3% compared to the same quarter last year. During the same period last year, the company earned $2.85 earnings per share.

DKS has been the topic of a number of other research reports. TD Cowen boosted their price objective on DICK’S Sporting Goods from $166.00 to $175.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 8th. Jefferies Financial Group started coverage on DICK’S Sporting Goods in a report on Tuesday, March 14th. They set a “hold” rating and a $155.00 price objective for the company. Telsey Advisory Group restated an “outperform” rating and issued a $165.00 target price on shares of DICK’S Sporting Goods in a research note on Friday, March 17th. Loop Capital dropped their target price on shares of DICK’S Sporting Goods from $150.00 to $135.00 in a research note on Wednesday. Finally, 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. Nine investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, DICK’S Sporting Goods has an average rating of “Moderate Buy” and an average target price of $156.43.

DICK’S Sporting Goods Price Performance

Shares of NYSE DKS opened at $122.36 on Thursday. The stock has a market capitalization of $10.48 billion, a PE ratio of 10.46, a P/E/G ratio of 1.71 and a beta of 1.44. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.96 and a quick ratio of 0.81. The business has a fifty day moving average price of $139.39 and a two-hundred day moving average price of $129.17. DICK’S Sporting Goods has a fifty-two week low of $70.21 and a fifty-two week high of $152.61.

Institutional Trading of DICK’S Sporting Goods

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Balyasny Asset Management LLC increased its holdings in shares of DICK’S Sporting Goods by 6,908.1% during the 3rd quarter. Balyasny Asset Management LLC now owns 1,244,493 shares of the sporting goods retailer’s stock worth $130,224,000 after purchasing an additional 1,226,735 shares during the period. Samlyn Capital LLC grew its stake in DICK’S Sporting Goods by 179.0% during the third 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 last quarter. BlackRock Inc. grew its stake in DICK’S Sporting Goods by 12.1% during the first 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 last quarter. CIBC Private Wealth Group LLC grew its stake in DICK’S Sporting Goods by 116.7% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,174,456 shares of the sporting goods retailer’s stock worth $141,275,000 after buying an additional 632,420 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its stake in DICK’S Sporting Goods by 1,168.3% during the first quarter. Envestnet Asset Management Inc. now owns 465,279 shares of the sporting goods retailer’s stock worth $7,918,000 after buying an additional 428,593 shares during the last quarter. 75.08% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other DICK’S Sporting Goods news, CEO Lauren R. Hobart sold 83,392 shares of the business’s stock in a transaction on Monday, March 13th. The shares were sold at an average price of $145.21, for a total value of $12,109,352.32. Following the transaction, the chief executive officer now owns 233,269 shares in the company, valued at approximately $33,872,991.49. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Chairman Edward W. Stack sold 159,461 shares of the company’s stock in a transaction that occurred on Monday, March 13th. The shares were sold at an average price of $144.38, for a total value of $23,022,979.18. Following the completion of the sale, the chairman now directly owns 10,953,633 shares of the company’s stock, valued at approximately $1,581,485,532.54. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Lauren R. Hobart sold 83,392 shares of the company’s stock in a transaction that occurred on 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 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 disclosure for this sale can be found here. Insiders have sold a total of 285,382 shares of company stock valued at $41,042,070 in the last quarter. 30.79% of the stock is currently owned by company insiders.

DICK’S Sporting Goods Dividend Announcement

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

About DICK’S Sporting Goods

(Get Rating)

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.