DICK’S Sporting Goods (NYSE:DKS) Releases Quarterly Earnings Results, Beats Expectations By $0.18 EPS

DICK’S Sporting Goods (NYSE:DKS – Get Rating) released its quarterly earnings data on Tuesday. The sporting goods retailer reported $3.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.22 by $0.18, Briefing.com reports. DICK’S Sporting Goods had a net margin of 8.69% and a return on equity of 45.52%. The business had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.80 billion. During the same quarter in the previous year, the business earned $2.85 EPS. DICK’S Sporting Goods’s quarterly revenue was up 5.3% compared to the same quarter last year. DICK’S Sporting Goods updated its FY24 guidance to $12.90-13.80 EPS.

DICK’S Sporting Goods Price Performance

Shares of DICK’S Sporting Goods stock opened at $123.85 on Thursday. The company has a current ratio of 1.96, a quick ratio of 0.81 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $10.60 billion, a price-to-earnings ratio of 10.59, a P/E/G ratio of 1.71 and a beta of 1.44. DICK’S Sporting Goods has a 1-year low of $63.45 and a 1-year high of $152.61. The firm’s 50-day moving average price is $139.88 and its two-hundred day moving average price is $129.22.

DICK’S Sporting Goods Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Friday, June 16th will be paid a $1.00 dividend. The ex-dividend date of this dividend is Thursday, June 15th. This represents a $4.00 dividend on an annualized basis and a yield of 3.23%. DICK’S Sporting Goods’s payout ratio is currently 34.19%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Citigroup reduced their price objective on shares of DICK’S Sporting Goods from $144.00 to $135.00 in a research note on Wednesday. JPMorgan Chase & Co. boosted their target price on shares of DICK’S Sporting Goods from $125.00 to $148.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 8th. Loop Capital cut their target price on shares of DICK’S Sporting Goods from $150.00 to $135.00 in a research report on Wednesday. Evercore ISI boosted their target price on shares of DICK’S Sporting Goods from $160.00 to $200.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 8th. Finally, Cowen boosted their target price on shares of DICK’S Sporting Goods from $155.00 to $166.00 in a research report on Monday, February 6th. Ten research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, DICK’S Sporting Goods currently has a consensus rating of “Moderate Buy” and a consensus price target of $156.43.

Insiders Place Their Bets

In other DICK’S Sporting Goods news, Director Anne Fink sold 3,174 shares of the company’s stock in a transaction dated Thursday, April 6th. The shares were sold at an average price of $139.08, for a total transaction of $441,439.92. Following the sale, the director now directly owns 14,481 shares of the company’s stock, valued at $2,014,017.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Anne Fink sold 3,174 shares of the stock in a transaction that occurred on Thursday, April 6th. The shares were sold at an average price of $139.08, for a total transaction of $441,439.92. Following the sale, the director now directly owns 14,481 shares of the company’s stock, valued at $2,014,017.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Lauren R. Hobart sold 83,392 shares of the stock in a transaction that occurred on Monday, March 13th. The shares were sold at an average price of $145.21, for a total transaction of $12,109,352.32. Following the completion of the transaction, the chief executive officer now owns 233,269 shares in the company, valued at $33,872,991.49. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 285,382 shares of company stock valued at $41,042,070. 30.79% of the stock is currently owned by insiders.

Hedge Funds Weigh In On DICK’S Sporting Goods

Several large investors have recently bought and sold shares of DKS. Panagora Asset Management Inc. acquired a new stake in DICK’S Sporting Goods in the first quarter worth $219,000. Atria Wealth Solutions Inc. bought a new position in shares of DICK’S Sporting Goods in the 4th quarter valued at about $217,000. Cerity Partners LLC acquired a new stake in shares of DICK’S Sporting Goods during the 1st quarter worth about $205,000. Canada Pension Plan Investment Board lifted its stake in shares of DICK’S Sporting Goods by 34.4% during the 1st quarter. Canada Pension Plan Investment Board now owns 2,047 shares of the sporting goods retailer’s stock worth $204,000 after buying an additional 524 shares during the last quarter. Finally, Lazard Asset Management LLC lifted its stake in shares of DICK’S Sporting Goods by 24.1% during the 4th quarter. Lazard Asset Management LLC now owns 1,266 shares of the sporting goods retailer’s stock worth $152,000 after buying an additional 246 shares during the last quarter. 75.08% of the stock is currently owned by institutional investors and hedge funds.

About DICK’S Sporting Goods

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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.