Dicks Sporting Goods Inc (DKS) Expected to Post Quarterly Sales of $2.23 Billion

Brokerages forecast that Dicks Sporting Goods Inc (NYSE:DKS) will post sales of $2.23 billion for the current fiscal quarter, according to Zacks. Seven analysts have provided estimates for Dicks Sporting Goods’ earnings, with estimates ranging from $2.19 billion to $2.29 billion. Dicks Sporting Goods posted sales of $2.16 billion during the same quarter last year, which suggests a positive year over year growth rate of 3.2%. The business is scheduled to issue its next earnings report before the market opens on Wednesday, August 29th.

According to Zacks, analysts expect that Dicks Sporting Goods will report full year sales of $8.67 billion for the current year, with estimates ranging from $8.54 billion to $8.79 billion. For the next year, analysts expect that the company will post sales of $8.82 billion per share, with estimates ranging from $8.71 billion to $9.01 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Dicks Sporting Goods.

Dicks Sporting Goods (NYSE:DKS) last posted its quarterly earnings data on Wednesday, May 30th. The sporting goods retailer reported $0.59 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.14. Dicks Sporting Goods had a net margin of 3.75% and a return on equity of 16.98%. The firm had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.88 billion. During the same quarter in the prior year, the company posted $0.54 earnings per share. The company’s revenue for the quarter was up 4.6% compared to the same quarter last year.

Several equities analysts have recently issued reports on DKS shares. ValuEngine downgraded shares of Dicks Sporting Goods from a “sell” rating to a “strong sell” rating in a report on Wednesday, May 2nd. JPMorgan Chase & Co. upped their price objective on shares of Dicks Sporting Goods from $43.00 to $46.00 and gave the company an “overweight” rating in a report on Thursday, May 31st. Credit Suisse Group set a $35.00 price objective on shares of Dicks Sporting Goods and gave the company a “hold” rating in a report on Wednesday, May 30th. Wolfe Research upgraded shares of Dicks Sporting Goods from an “underperform” rating to a “peer perform” rating in a report on Thursday, May 31st. Finally, Robert W. Baird upped their target price on Dicks Sporting Goods from $38.70 to $39.00 and gave the company a “neutral” rating in a research report on Wednesday, May 30th. Three research analysts have rated the stock with a sell rating, fourteen have given a hold rating and thirteen have issued a buy rating to the stock. Dicks Sporting Goods presently has a consensus rating of “Hold” and a consensus target price of $35.44.

A number of institutional investors have recently added to or reduced their stakes in DKS. JPMorgan Chase & Co. boosted its position in Dicks Sporting Goods by 268.7% in the 1st quarter. JPMorgan Chase & Co. now owns 2,603,116 shares of the sporting goods retailer’s stock worth $91,238,000 after purchasing an additional 1,897,076 shares in the last quarter. Contrarius Investment Management Ltd purchased a new stake in Dicks Sporting Goods in the 1st quarter worth approximately $43,255,000. The Manufacturers Life Insurance Company boosted its position in Dicks Sporting Goods by 299.2% in the 1st quarter. The Manufacturers Life Insurance Company now owns 549,597 shares of the sporting goods retailer’s stock worth $19,264,000 after purchasing an additional 411,938 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Dicks Sporting Goods by 14.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,273,962 shares of the sporting goods retailer’s stock worth $114,752,000 after purchasing an additional 401,849 shares in the last quarter. Finally, Letko Brosseau & Associates Inc. boosted its position in Dicks Sporting Goods by 22.1% in the 1st quarter. Letko Brosseau & Associates Inc. now owns 2,027,583 shares of the sporting goods retailer’s stock worth $71,067,000 after purchasing an additional 366,805 shares in the last quarter. Institutional investors and hedge funds own 71.05% of the company’s stock.

Shares of Dicks Sporting Goods traded up $0.07, hitting $33.57, during mid-day trading on Friday, according to MarketBeat.com. 1,709,200 shares of the company traded hands, compared to its average volume of 3,120,419. Dicks Sporting Goods has a 1-year low of $23.88 and a 1-year high of $38.99. The company has a quick ratio of 0.24, a current ratio of 1.65 and a debt-to-equity ratio of 0.18. The company has a market cap of $3.50 billion, a P/E ratio of 11.21, a price-to-earnings-growth ratio of 1.11 and a beta of 0.47.

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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Earnings History and Estimates for Dicks Sporting Goods (NYSE:DKS)

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