DICK’S Sporting Goods (NYSE:DKS) Announces Quarterly Earnings Results, Beats Estimates By $1.22 EPS

DICK’S Sporting Goods (NYSE:DKS) issued its quarterly earnings data on Tuesday. The sporting goods retailer reported $3.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.97 by $1.22, MarketWatch Earnings reports. The firm had revenue of $2.75 billion during the quarter, compared to analysts’ expectations of $2.49 billion. DICK’S Sporting Goods had a return on equity of 50.69% and a net margin of 10.69%. DICK’S Sporting Goods’s revenue was up 13.9% on a year-over-year basis. During the same period in the previous year, the firm posted $2.01 earnings per share. DICK’S Sporting Goods updated its FY22 guidance to $14.60-$14.80 EPS and its FY 2021 guidance to $14.600-$14.800 EPS.

Shares of NYSE DKS opened at $127.30 on Thursday. DICK’S Sporting Goods has a 1-year low of $51.51 and a 1-year high of $147.39. The business has a 50-day moving average of $127.15 and a 200-day moving average of $113.09. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.72 and a quick ratio of 0.94. The company has a market capitalization of $11.28 billion, a price-to-earnings ratio of 10.62, a PEG ratio of 0.84 and a beta of 1.72.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 29th. Stockholders of record on Friday, December 10th will be given a $0.4375 dividend. This represents a $1.75 annualized dividend and a dividend yield of 1.37%. The ex-dividend date is Thursday, December 9th. DICK’S Sporting Goods’s payout ratio is 14.60%.

A number of equities analysts have recently weighed in on the company. Stifel Nicolaus boosted their price target on DICK’S Sporting Goods from $126.00 to $130.00 and gave the stock a “hold” rating in a report on Tuesday. Robert W. Baird boosted their price target on DICK’S Sporting Goods from $135.00 to $140.00 and gave the stock a “neutral” rating in a report on Tuesday. Credit Suisse Group boosted their price target on DICK’S Sporting Goods from $88.00 to $123.00 and gave the stock a “neutral” rating in a report on Thursday, August 26th. Citigroup boosted their price target on DICK’S Sporting Goods from $160.00 to $170.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Stephens boosted their price target on DICK’S Sporting Goods from $95.00 to $129.00 and gave the stock an “equal weight” rating in a report on Friday, August 27th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $126.55.

In related news, EVP Vladimir Rak sold 10,011 shares of the business’s stock in a transaction dated Wednesday, September 1st. The stock was sold at an average price of $145.08, for a total value of $1,452,395.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP John Edward Hayes III sold 733 shares of the business’s stock in a transaction dated Monday, August 30th. The stock was sold at an average price of $139.39, for a total value of $102,172.87. The disclosure for this sale can be found here. Insiders sold 65,744 shares of company stock valued at $9,157,069 in the last ninety days. Company insiders own 30.09% of the company’s stock.

A hedge fund recently raised its stake in DICK’S Sporting Goods stock. Morgan Stanley raised its position in shares of DICK’S Sporting Goods, Inc. (NYSE:DKS) by 27.7% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 433,401 shares of the sporting goods retailer’s stock after buying an additional 93,962 shares during the quarter. Morgan Stanley owned about 0.49% of DICK’S Sporting Goods worth $43,423,000 at the end of the most recent quarter. 89.50% of the stock is currently owned by institutional investors and hedge funds.

About DICK’S Sporting Goods

Dick’s Sporting Goods, Inc engages in the retail of extensive assortment of authentic sports equipment, apparel, footwear, and accessories through a blend of associates, in-store services, and unique specialty shop-in-shops. The company was founded by Richard T. Stack in 1948 and is headquartered in Coraopolis, PA.

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Earnings History for DICK'S Sporting Goods (NYSE:DKS)

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