DICK’S Sporting Goods (NYSE:DKS) Releases Quarterly Earnings Results, Beats Estimates By $0.43 EPS

DICK’S Sporting Goods (NYSE:DKSGet Rating) released its quarterly earnings data on Wednesday. The sporting goods retailer reported $2.85 earnings per share for the quarter, beating the consensus estimate of $2.42 by $0.43, MarketWatch Earnings reports. The business had revenue of $2.70 billion for the quarter, compared to analyst estimates of $2.63 billion. DICK’S Sporting Goods had a return on equity of 60.28% and a net margin of 12.36%. The company’s revenue was down 7.5% compared to the same quarter last year. During the same period in the previous year, the company posted $3.79 EPS. DICK’S Sporting Goods updated its FY23 guidance to $9.15-11.70 EPS and its FY 2022 guidance to $9.15-$11.70 EPS.

Shares of NYSE DKS traded down $0.12 during trading on Friday, reaching $84.46. The stock had a trading volume of 162,058 shares, compared to its average volume of 2,271,225. DICK’S Sporting Goods has a one year low of $63.45 and a one year high of $147.39. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.04 and a current ratio of 1.88. The stock has a market cap of $6.74 billion, a PE ratio of 6.09, a P/E/G ratio of 1.26 and a beta of 1.60. The firm’s 50 day moving average price is $97.89 and its two-hundred day moving average price is $108.20.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 24th. Stockholders of record on Friday, June 10th will be issued a $0.488 dividend. The ex-dividend date of this dividend is Thursday, June 9th. This represents a $1.95 dividend on an annualized basis and a dividend yield of 2.31%. DICK’S Sporting Goods’s dividend payout ratio (DPR) is 14.05%.

In related news, EVP Donald J. Germano sold 54,210 shares of the company’s stock in a transaction on Tuesday, April 5th. The stock was sold at an average price of $99.68, for a total transaction of $5,403,652.80. Following the completion of the transaction, the executive vice president now directly owns 91,269 shares in the company, valued at approximately $9,097,693.92. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Donald J. Germano sold 23,961 shares of the company’s stock in a transaction on Tuesday, March 29th. The stock was sold at an average price of $110.33, for a total value of $2,643,617.13. The disclosure for this sale can be found here. Insiders sold a total of 190,886 shares of company stock valued at $20,211,002 over the last quarter. Company insiders own 32.83% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. The Manufacturers Life Insurance Company grew its stake in shares of DICK’S Sporting Goods by 17.5% in the fourth quarter. The Manufacturers Life Insurance Company now owns 478,752 shares of the sporting goods retailer’s stock worth $55,051,000 after purchasing an additional 71,421 shares in the last quarter. Morgan Stanley grew its stake in shares of DICK’S Sporting Goods by 27.7% in the second quarter. Morgan Stanley now owns 433,401 shares of the sporting goods retailer’s stock worth $43,423,000 after purchasing an additional 93,962 shares in the last quarter. First Trust Advisors LP grew its stake in shares of DICK’S Sporting Goods by 6.4% in the first quarter. First Trust Advisors LP now owns 355,871 shares of the sporting goods retailer’s stock worth $35,594,000 after purchasing an additional 21,417 shares in the last quarter. Eaton Vance Management grew its stake in shares of DICK’S Sporting Goods by 25.0% in the first quarter. Eaton Vance Management now owns 98,302 shares of the sporting goods retailer’s stock worth $9,831,000 after purchasing an additional 19,663 shares in the last quarter. Finally, Federated Hermes Inc. lifted its holdings in shares of DICK’S Sporting Goods by 3.5% in the first quarter. Federated Hermes Inc. now owns 74,378 shares of the sporting goods retailer’s stock valued at $7,440,000 after buying an additional 2,526 shares during the period. Hedge funds and other institutional investors own 78.92% of the company’s stock.

Several research firms have recently weighed in on DKS. Stephens reduced their price objective on DICK’S Sporting Goods from $138.00 to $122.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 9th. Truist Financial boosted their price target on DICK’S Sporting Goods from $168.00 to $180.00 and gave the stock a “buy” rating in a research report on Wednesday, March 9th. Wells Fargo & Company reduced their price target on DICK’S Sporting Goods from $132.00 to $122.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 24th. StockNews.com assumed coverage on DICK’S Sporting Goods in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Finally, Barclays reduced their price target on DICK’S Sporting Goods from $134.00 to $106.00 and set an “overweight” rating on the stock in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $117.58.

DICK’S Sporting Goods Company Profile (Get Rating)

DICK'S Sporting Goods, Inc, together with its subsidiaries, operates as a sporting goods retailer primarily in the eastern United States. The company provides hardlines, including sporting goods equipment, fitness equipment, golf equipment, and hunting and fishing gear products; apparel; and footwear and accessories.

See Also

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

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