Bank of America Analysts Give Dicks Sporting Goods (DKS) a $40.00 Price Target

Bank of America set a $40.00 target price on Dicks Sporting Goods (NYSE:DKS) in a research note issued to investors on Sunday morning. The brokerage currently has a hold rating on the sporting goods retailer’s stock.

Several other brokerages have also recently weighed in on DKS. ValuEngine raised Dicks Sporting Goods from a strong sell rating to a sell rating in a research note on Friday, August 10th. OTR Global raised Dicks Sporting Goods to a positive rating in a research note on Wednesday, August 15th. Wedbush boosted their price objective on Dicks Sporting Goods from $37.00 to $38.00 and gave the stock a neutral rating in a research note on Tuesday, August 21st. Cowen boosted their price objective on Dicks Sporting Goods from $37.00 to $42.00 and gave the stock a hold rating in a research note on Thursday, August 23rd. Finally, Canaccord Genuity set a $36.00 price objective on Dicks Sporting Goods and gave the stock a hold rating in a research note on Wednesday, August 29th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and nine have assigned a buy rating to the stock. Dicks Sporting Goods has an average rating of Hold and an average target price of $39.50.

Shares of DKS stock opened at $36.34 on Friday. Dicks Sporting Goods has a 12-month low of $28.73 and a 12-month high of $39.75. The company has a current ratio of 1.61, a quick ratio of 0.19 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $3.64 billion, a PE ratio of 12.07, a PEG ratio of 1.86 and a beta of 0.33.

Dicks Sporting Goods (NYSE:DKS) last issued its earnings results on Wednesday, November 28th. The sporting goods retailer reported $0.39 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.13. Dicks Sporting Goods had a return on equity of 18.10% and a net margin of 3.87%. The firm had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.88 billion. During the same period in the previous year, the firm posted $0.30 earnings per share. The business’s revenue was down 4.5% compared to the same quarter last year. As a group, analysts predict that Dicks Sporting Goods will post 3.23 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 28th. Shareholders of record on Friday, December 14th will be given a dividend of $0.225 per share. The ex-dividend date of this dividend is Thursday, December 13th. This represents a $0.90 annualized dividend and a dividend yield of 2.48%. Dicks Sporting Goods’s dividend payout ratio (DPR) is presently 29.90%.

Several large investors have recently made changes to their positions in the business. Canada Pension Plan Investment Board boosted its position in shares of Dicks Sporting Goods by 0.3% during the third quarter. Canada Pension Plan Investment Board now owns 462,900 shares of the sporting goods retailer’s stock valued at $16,424,000 after buying an additional 1,400 shares during the period. GAM Holding AG boosted its holdings in shares of Dicks Sporting Goods by 2.6% in the third quarter. GAM Holding AG now owns 63,716 shares of the sporting goods retailer’s stock valued at $2,261,000 after purchasing an additional 1,606 shares during the period. California Public Employees Retirement System boosted its holdings in shares of Dicks Sporting Goods by 0.6% in the second quarter. California Public Employees Retirement System now owns 275,068 shares of the sporting goods retailer’s stock valued at $9,696,000 after purchasing an additional 1,774 shares during the period. Global X Management Co LLC boosted its holdings in shares of Dicks Sporting Goods by 55.1% in the second quarter. Global X Management Co LLC now owns 5,310 shares of the sporting goods retailer’s stock valued at $187,000 after purchasing an additional 1,886 shares during the period. Finally, Commonwealth Bank of Australia boosted its holdings in shares of Dicks Sporting Goods by 2.8% in the second quarter. Commonwealth Bank of Australia now owns 70,745 shares of the sporting goods retailer’s stock valued at $2,491,000 after purchasing an additional 1,900 shares during the period. Institutional investors and hedge funds own 78.56% of the company’s stock.

Dicks Sporting Goods Company Profile

Dick's Sporting Goods, Inc operates as a sporting goods retailer primarily in the eastern United States. It provides hardlines, including sporting goods equipment, fitness equipment, golf equipment, and hunting and fishing gear products; apparel; and footwear and accessories. The company also owns and operates Golf Galaxy, Field & Stream, and other specialty concept stores; and e-commerce Websites, as well as Dick's Team Sports HQ, a youth sports digital platform that offers free league management services, mobile apps for scheduling, communications and live scorekeeping, custom uniforms and fan wear, and access to donations and sponsorships.

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Analyst Recommendations for Dicks Sporting Goods (NYSE:DKS)

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