DICK’S Sporting Items (NYSE:DKS) Posts Quarterly Earnings Outcomes, Beats Expectations By $zero.43 EPS

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DICK’S Sporting Goods (NYSE:DKS – Get Rating) released its earnings results on Wednesday. The sporting goods retailer reported earnings per share (EPS) of $2.85 for the quarter, beating the consensus estimate of $2.42 by $0.43, reports MarketWatch Earnings. DICK’S Sporting Goods had a return on equity of 60.28% and a net margin of 12.36%. The company had revenue of $2.70 billion in the quarter, compared to analyst estimates of $2.63 billion. In the same period last year, the company posted $3.79 per share. The company’s revenue fell 7.5% compared to the prior-year quarter. DICK’S Sporting Goods updated its FY23 guidance to range from $9.15 to $11.70 per share and its FY2022 guidance to range from $9.15 to $11.70 per share.

NYSE: DKS rose $7.33 on Wednesday to hit $78.57. The company’s shares had a trading volume of 607,013 shares compared to an average volume of 1,874,205. The company has a current ratio of 1.88, a quick ratio of 1.04 and a debt-to-equity ratio of 0.92. The stock has a fifty-day moving average of $99.15 and a two-hundred-day moving average of $108.57. The company has a market cap of $6.27 billion, a P/E of 5.52, a price-to-earnings-to-growth ratio of 1.26 and a beta of 1.60. DICK’S Sporting Goods has a yearly low of $69.65 and a yearly high of $147.39.

The company also recently announced a quarterly dividend, which was paid on Friday, March 25th. A dividend of $0.488 per share was paid to investors of record on Friday, March 18th. That equates to an annualized dividend of $1.95 and a yield of 2.48%. The ex-dividend date was Thursday March 17th. This is a positive change from DICK’S Sporting Goods’ previous quarterly dividend of $0.44. The payout ratio of DICK’S Sporting Goods is currently 14.05%.

In addition, EVP Donald J. Germano sold 54,210 shares of the company’s stock in a transaction that took place on Tuesday, April 5th. The stock sold at an average price of $99.68 for a total value of $5,403,652.80. Following the transaction, the Executive Vice President now owns 91,269 shares of the Company, valued at $9,097,693.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC’s website. In addition, SVP Julie Lodge-Jarrett sold 9,139 shares of the company’s stock in a transaction that took place on Tuesday, March 15th. The shares sold at an average price of $109.02 for a total value of $996,333.78. The disclosure for this sale can be found here. Insiders have sold 190,886 shares of the company’s stock valued at $20,211,002 in the past 90 days. Company insiders own 32.83% of the company’s shares.

Several hedge funds recently changed their holdings in the company. Point72 Hong Kong Ltd increased its stake in DICK’S Sporting Goods by 188.8% in the first quarter. Point72 Hong Kong Ltd now owns 797 shares of the sporting goods retailer, valued at $80,000, after acquiring a further 521 shares last quarter. covestor ltd increased its stake in DICK’S Sporting Goods by 118.7% in the first quarter. Covestor Ltd now owns 912 shares of the sporting goods retailer, valued at $91,000, after purchasing an additional 495 shares last quarter. The Canada Pension Plan Investment Board increased its stake in DICK’S Sporting Goods by 104.7% during the fourth quarter. The Canada Pension Plan Investment Board now owns 1,523 shares of the sporting goods retailer, valued at $175,000, after purchasing an additional 779 shares last quarter. Forum Financial Management LP acquired a new position in DICK’S Sporting Goods stock valued at $221,000 during the fourth quarter. Finally, Edgestream Partners LP bought a new position in DICK’S Sporting Goods stock valued at $261,000 during the first quarter. 78.92% of the shares are currently owned by hedge funds and other institutional investors.

Several research analysts have recently issued reports on DKS stocks. Cowen raised his target price on DICK’S Sporting Goods to $165.00 from $161.00 and gave the stock an outperform rating in a research note on Wednesday, March 9th. DA Davidson lowered its target price on DICK’S Sporting Goods from $165.00 to $147.00 in a research note on Wednesday, March 9th. Truist Financial increased its target price on DICK’S Sporting Goods to $180.00 from $168.00 and gave the company a buy rating in a report on Wednesday, March 9th. Barclays lowered its target price on DICK’S Sporting Goods from $147.00 to $134.00 in a report on Friday, April 1. Finally, in a report Wednesday, March 9, Stephens lowered his target price on DICK’S Sporting Goods to $122.00 from $138.00 and gave the stock an “equal weight” rating. One analyst has rated the stock with a sell rating, ten have given it a hold rating and nine have given it a buy rating. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $138.82.

DICK’S Sporting Goods Company Profile (received rating)

DICK’S Sporting Goods, Inc, along with its subsidiaries, operates as a sporting goods retailer primarily in the eastern United States. The Company offers hardlines including sporting goods equipment, fitness equipment, golf equipment, and hunting and fishing equipment products; Clothing; and shoes and accessories.

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