Wedbush Lowers Dick’s Sporting Goods Inc (DKS) Price Target to $51.00

Dick’s Sporting Goods Inc (NYSE:DKS) had its price objective lowered by Wedbush from $54.00 to $51.00 in a research note released on Wednesday morning, Marketbeat Ratings reports. The firm currently has an outperform rating on the sporting goods retailer’s stock. Wedbush also issued estimates for Dick’s Sporting Goods’ Q2 2018 earnings at $1.02 EPS, Q3 2018 earnings at $0.52 EPS, Q4 2018 earnings at $1.47 EPS, FY2018 earnings at $3.55 EPS, Q1 2019 earnings at $0.63 EPS, Q2 2019 earnings at $1.14 EPS, Q3 2019 earnings at $0.58 EPS, Q4 2019 earnings at $1.58 EPS and FY2019 earnings at $3.92 EPS.

Several other equities analysts have also commented on the company. Bank of America Corporation reiterated a buy rating and issued a $55.00 target price (down from $65.00) on shares of Dick’s Sporting Goods in a research note on Wednesday, May 17th. Stifel Nicolaus reiterated an outperform rating and issued a $65.00 target price on shares of Dick’s Sporting Goods in a research note on Sunday, April 23rd. Morgan Stanley reiterated an equal weight rating and issued a $46.00 target price (down from $55.00) on shares of Dick’s Sporting Goods in a research note on Wednesday, May 17th. Canaccord Genuity reiterated a buy rating and issued a $67.00 target price on shares of Dick’s Sporting Goods in a research note on Monday, May 8th. Finally, Citigroup Inc. reiterated a buy rating and issued a $55.00 target price (down from $65.00) on shares of Dick’s Sporting Goods in a research note on Wednesday, May 17th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twenty have assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and an average price target of $55.92.

Dick’s Sporting Goods (DKS) traded down 0.14% during trading on Wednesday, hitting $36.67. The stock had a trading volume of 1,380,309 shares. Dick’s Sporting Goods has a one year low of $34.55 and a one year high of $62.88. The stock’s 50-day moving average is $38.56 and its 200 day moving average is $46.21. The firm has a market cap of $4.12 billion, a price-to-earnings ratio of 14.20 and a beta of 0.48.

Dick’s Sporting Goods (NYSE:DKS) last released its earnings results on Tuesday, May 16th. The sporting goods retailer reported $0.54 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.54. The firm had revenue of $1.83 billion during the quarter, compared to analyst estimates of $1.83 billion. Dick’s Sporting Goods had a return on equity of 18.61% and a net margin of 3.57%. The business’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.50 earnings per share. Equities analysts anticipate that Dick’s Sporting Goods will post $3.66 earnings per share for the current year.

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The company also recently disclosed a quarterly dividend, which was paid on Friday, June 30th. Shareholders of record on Friday, June 9th were paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.85%. The ex-dividend date was Wednesday, June 7th. Dick’s Sporting Goods’s payout ratio is currently 26.25%.

A number of hedge funds have recently made changes to their positions in the stock. Creative Planning boosted its stake in shares of Dick’s Sporting Goods by 72.2% in the second quarter. Creative Planning now owns 2,667 shares of the sporting goods retailer’s stock valued at $106,000 after buying an additional 1,118 shares during the last quarter. Point72 Asia Hong Kong Ltd purchased a new stake in shares of Dick’s Sporting Goods during the first quarter valued at about $114,000. James Investment Research Inc. boosted its stake in shares of Dick’s Sporting Goods by 7.3% in the first quarter. James Investment Research Inc. now owns 2,933 shares of the sporting goods retailer’s stock valued at $143,000 after buying an additional 200 shares during the last quarter. Integrated Investment Consultants LLC boosted its stake in shares of Dick’s Sporting Goods by 232.1% in the first quarter. Integrated Investment Consultants LLC now owns 3,487 shares of the sporting goods retailer’s stock valued at $170,000 after buying an additional 2,437 shares during the last quarter. Finally, Verity Asset Management Inc. purchased a new stake in shares of Dick’s Sporting Goods during the first quarter valued at about $206,000. Hedge funds and other institutional investors own 78.91% of the company’s stock.

About Dick’s Sporting Goods

Dick’s Sporting Goods, Inc is an omni-channel sporting goods retailer offering an assortment of sports equipment, apparel, footwear and accessories in its specialty retail stores primarily in the eastern United States. The Company also owns and operates Golf Galaxy, Field & Stream and other specialty concept stores, and Dick’s Team Sports HQ, an all-in-one youth sports digital platform offering free league management services, mobile applications for scheduling, communications and live scorekeeping, custom uniforms and FanWear and access to donations and sponsorships.