DICK’S Sporting Goods (NYSE:DKS) Releases FY 2024 Earnings Guidance

DICK’S Sporting Goods (NYSE:DKSGet Free Report) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 13.350-13.750 for the period, compared to the consensus estimate of 13.240. The company issued revenue guidance of $13.1 billion-$13.2 billion, compared to the consensus revenue estimate of $13.2 billion.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on DKS shares. UBS Group increased their target price on DICK’S Sporting Goods from $142.00 to $215.00 and gave the stock a neutral rating in a report on Tuesday, March 19th. Evercore ISI raised their target price on DICK’S Sporting Goods from $200.00 to $240.00 and gave the company an outperform rating in a research report on Friday, March 15th. Morgan Stanley raised their target price on DICK’S Sporting Goods from $160.00 to $235.00 and gave the company an overweight rating in a research report on Friday, March 15th. Jefferies Financial Group initiated coverage on DICK’S Sporting Goods in a research report on Friday, April 12th. They set a hold rating and a $211.00 target price for the company. Finally, Stifel Nicolaus raised their target price on DICK’S Sporting Goods from $126.00 to $215.00 and gave the company a hold rating in a research report on Friday, March 15th. Twelve research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of Hold and a consensus target price of $210.45.

Read Our Latest Stock Analysis on DICK’S Sporting Goods

DICK’S Sporting Goods Stock Performance

NYSE:DKS opened at $194.94 on Wednesday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.78 and a quick ratio of 0.74. DICK’S Sporting Goods has a 1-year low of $100.98 and a 1-year high of $225.79. The business has a 50 day moving average of $204.02 and a 200 day moving average of $170.48. The company has a market capitalization of $16.07 billion, a price-to-earnings ratio of 16.00, a PEG ratio of 2.32 and a beta of 1.61.

DICK’S Sporting Goods (NYSE:DKSGet Free Report) last posted its earnings results on Thursday, March 14th. The sporting goods retailer reported $3.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.35 by $0.50. DICK’S Sporting Goods had a return on equity of 42.99% and a net margin of 8.06%. The firm had revenue of $3.88 billion for the quarter, compared to analysts’ expectations of $3.79 billion. During the same period in the previous year, the firm earned $2.93 earnings per share. The business’s revenue was up 7.8% compared to the same quarter last year. On average, sell-side analysts predict that DICK’S Sporting Goods will post 13.26 earnings per share for the current fiscal year.

DICK’S Sporting Goods Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Friday, March 29th were issued a dividend of $1.10 per share. This is an increase from DICK’S Sporting Goods’s previous quarterly dividend of $1.00. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date of this dividend was Wednesday, March 27th. DICK’S Sporting Goods’s dividend payout ratio is presently 36.12%.

Insider Activity

In related news, major shareholder William Colombo Trustee U/A Dt purchased 40,000 shares of DICK’S Sporting Goods stock in a transaction on Friday, March 15th. The stock was acquired at an average price of $213.93 per share, for a total transaction of $8,557,200.00. Following the completion of the transaction, the insider now directly owns 8,818,615 shares in the company, valued at approximately $1,886,566,306.95. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CFO Navdeep Gupta sold 16,211 shares of the stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $222.00, for a total transaction of $3,598,842.00. Following the completion of the sale, the chief financial officer now owns 87,628 shares in the company, valued at $19,453,416. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder William Colombo Trustee U/A Dt purchased 40,000 shares of the business’s stock in a transaction on Friday, March 15th. The shares were purchased at an average price of $213.93 per share, with a total value of $8,557,200.00. Following the acquisition, the insider now directly owns 8,818,615 shares in the company, valued at $1,886,566,306.95. The disclosure for this purchase can be found here. Insiders have sold a total of 209,763 shares of company stock valued at $46,483,438 over the last ninety days. 32.03% of the stock is currently owned by corporate insiders.

DICK’S Sporting Goods Company Profile

(Get Free Report)

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

Further Reading

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

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