DICK’S Sporting Goods (NYSE:DKS) Posts Earnings Results, Beats Expectations By $1.31 EPS

DICK’S Sporting Goods (NYSE:DKS) posted its earnings results on Tuesday. The sporting goods retailer reported $3.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.88 by $1.31, MarketWatch Earnings reports. DICK’S Sporting Goods had a net margin of 10.69% and a return on equity of 50.69%. The firm had revenue of $2.75 billion for the quarter, compared to the consensus estimate of $2.49 billion. During the same period in the previous year, the firm posted $2.01 EPS. The business’s quarterly revenue was up 13.9% on a year-over-year basis. 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 DKS opened at $134.55 on Wednesday. The firm’s fifty day moving average is $127.27 and its two-hundred day moving average is $112.99. The company has a quick ratio of 0.94, a current ratio of 1.72 and a debt-to-equity ratio of 0.14. The stock has a market cap of $11.92 billion, a PE ratio of 11.22, a price-to-earnings-growth ratio of 0.84 and a beta of 1.72. DICK’S Sporting Goods has a 52-week low of $51.51 and a 52-week high of $147.39.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 24th. Shareholders of record on Friday, September 10th were paid a dividend of $0.4375 per share. This represents a $1.75 annualized dividend and a yield of 1.30%. The ex-dividend date was Thursday, September 9th. This is a boost from DICK’S Sporting Goods’s previous quarterly dividend of $0.36. DICK’S Sporting Goods’s payout ratio is 14.60%.

In related news, SVP John Edward Hayes III sold 2,379 shares of the business’s stock in a transaction dated Thursday, August 26th. The shares were sold at an average price of $131.00, for a total value of $311,649.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Vladimir Rak sold 10,011 shares of the business’s stock in a transaction dated Wednesday, September 1st. The shares were sold at an average price of $145.08, for a total transaction of $1,452,395.88. The disclosure for this sale can be found here. In the last three months, insiders have sold 68,123 shares of company stock worth $9,468,718. Corporate insiders own 30.09% of the company’s stock.

An institutional investor recently raised its position in DICK’S Sporting Goods stock. Morgan Stanley boosted its holdings in DICK’S Sporting Goods, Inc. (NYSE:DKS) by 27.7% in the second 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 purchasing an additional 93,962 shares during the quarter. Morgan Stanley owned about 0.49% of DICK’S Sporting Goods worth $43,423,000 as of its most recent SEC filing. 89.50% of the stock is currently owned by hedge funds and other institutional investors.

A number of analysts have recently weighed in on DKS shares. Zacks Investment Research upgraded shares of DICK’S Sporting Goods from a “hold” rating to a “strong-buy” rating and set a $136.00 target price on the stock in a report on Wednesday, October 6th. Wells Fargo & Company began coverage on shares of DICK’S Sporting Goods in a research note on Wednesday, August 11th. They issued an “equal weight” rating on the stock. Credit Suisse Group lifted their price target on shares of DICK’S Sporting Goods from $88.00 to $123.00 and gave the company a “neutral” rating in a research note on Thursday, August 26th. Barclays increased their price objective on DICK’S Sporting Goods from $150.00 to $173.00 and gave the stock an “overweight” rating in a research note on Thursday, August 26th. Finally, Raymond James raised DICK’S Sporting Goods from an “underperform” rating to a “market perform” rating in a research report on Thursday, August 26th. Nine equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $126.30.

DICK’S Sporting Goods Company Profile

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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