Zacks: Analysts Anticipate DICK’S Sporting Items, Inc. (NYSE:DKS) Will Put up Quarterly Gross sales of $2.63 Billion

0
42

Brokerage firms are forecasting that DICK’s Sporting Goods, Inc. (NYSE:DKS – Get Rating) will post sales of $2.63 billion in the current quarter, Zacks reports. Eight analysts have provided estimates for DICK’S Sporting Goods revenue, with the lowest estimate of the revenue being $2.48 billion and the highest estimate of $2.86 billion. DICK’S Sporting Goods posted sales of $2.92 billion for the same quarter last year, indicating a negative growth rate of 9.9% year over year. The company is expected to report its next quarterly results on Monday, January 1st.

According to Zacks, analysts expect DICK’s Sporting Goods to report full-year sales of $12.15 billion for the current fiscal year, with estimates ranging from $11.82 billion to $12.34 billion. For the next fiscal year, analysts expect the company to report revenue of $12.62 billion, with estimates ranging from $12.12 billion to $12.93 billion. Zacks Investment Research sales averages are averages based on a survey of sales-side research firms covering DICK’S Sporting Goods.

DICK’S Sporting Goods (NYSE:DKS – Get Rating) last issued its quarterly earnings data on Tuesday, March 8th. The sporting goods retailer reported earnings per share (EPS) of $3.64 for the quarter, beating the consensus estimate of $3.54 by $0.10. DICK’S Sporting Goods had a net margin of 12.36% and a return on equity of 60.28%. The company had revenue of $3.35 billion in the quarter, compared to analyst estimates of $3.31 billion. In the same quarter last year, the company generated earnings per share of $2.43. The company’s quarterly revenue increased 7.2% compared to the same quarter last year.

DKS has been the subject of a number of new analyst reports. DA Davidson lowered its target price on shares of DICK’S Sporting Goods from $165.00 to $147.00 in a report on Wednesday, March 9th. Citigroup raised its target price on shares of DICK’S Sporting Goods to $170.00 from $161.00 in a report on Wednesday, March 9. Cowen raised his target price on DICK’S Sporting Goods shares to $165.00 from $161.00 and gave the company an outperform rating in a report on Wednesday, March 9th. Zacks Investment Research lowered shares of DICK’S Sporting Goods from a “strong buy” rating to a “hold” rating and set a price target of $116.00 for the company. in a report on Monday, March 7th. Finally, in a report on Thursday, March 24, Wells Fargo & Company lowered its target price on shares of DICK’S Sporting Goods to $122.00 from $132.00 and gave the company an “equal weight” rating. One investment analyst has assigned a sell rating to the stock, eleven have given a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of Hold and a consensus price target of $135.11.

DICK’s Sporting Goods stock opened at $105.16 on Friday. DICK’S Sporting Goods has a 52-week low of $80.42 and a 52-week high of $147.39. The company has a 50-day moving average of $106.88 and a 200-day moving average of $114.18. The company has a market cap of $9.11 billion, a P/E of 7.58, a PEG ratio of 1.69, and a beta of 1.68. The company has a quick ratio of 1.04, a current ratio of 1.88 and a debt to equity ratio of 0.92.

The company also recently announced a quarterly dividend, which was paid on Friday, March 25th. Stockholders of record on Friday, March 18 received a dividend of $0.488 per share. That equates to a dividend of $1.95 on an annualized basis and a dividend yield of 1.86%. This is an increase from DICK’S Sporting Goods’ prior quarterly dividend of $0.44. The ex-dividend date of this dividend was Thursday March 17th. The DICK’S Sporting Goods payout percentage is 14.05%.

In other news from DICK’S Sporting Goods, Director Mark J. Barrenechea sold 10,000 shares of the company’s stock in a transaction on Monday, April 11th. The shares were sold at an average price of $105.48 for a total transaction of $1,054,800.00. Following the sale, the Director now directly owns 10,159 shares of the Company, valued at approximately $1,071,571.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed at this link. Also, CFO Navdeep Gupta sold 9,614 shares of the company’s shares in a transaction on Friday, April 8th. The stock sold at an average price of $104.13 for a total transaction of $1,001,105.82. Following the sale, the Chief Financial Officer now owns 95,272 shares of the company, valued at $9,920,673.36. The disclosure for this sale can be found here. Insiders have sold a total of 190,886 shares of the company’s stock valued at $20,211,002 over the past 90 days. 30.09% of the shares are owned by insiders.

A number of large investors have recently changed their stock holdings. Spire Wealth Management bought a new position in DICK’S Sporting Goods stock valued at $26,000 during the third quarter. Pinnacle Holdings LLC acquired a new interest in DICK’S Sporting Goods stock valued at $31,000 during the third quarter. Missouri Trust & Investment Co acquired a new interest in DICK’S Sporting Goods stock valued at $34,000 during the fourth quarter. Banque Cantonale Vaudoise acquired a new stake in DICK’S Sporting Goods worth $43,000 during the third quarter. Finally, Trustcore Financial Services LLC acquired a new interest in shares of DICK’S Sporting Goods valued at $44,000 during the third quarter. Hedge funds and other institutional investors own 92.06% of the company’s shares.

DICK’S Sporting Goods Company Profile (received rating)

Dick’s Sporting Goods, Inc retails an extensive line of authentic athletic equipment, apparel, footwear and accessories through a blend of associates, in-store services and unique shop-in-shops. The company was founded in 1948 by Richard T. Stack and is headquartered in Coraopolis, PA.

See also

Get a Free Copy of Zacks Research Report on DICK’S Sporting Goods (DKS)

For more information on Zacks Investment Research’s research offerings, visit Zacks.com

Get News & Reviews for DICK’S Sporting Goods Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for DICK’S Sporting Goods and related companies with MarketBeat.com’s FREE daily email newsletter.