Dicks Sporting Goods Inc (NYSE:DKS) – Wedbush issued their Q1 2019 earnings estimates for shares of Dicks Sporting Goods in a note issued to investors on Wednesday. Wedbush analyst C. Svezia anticipates that the sporting goods retailer will post earnings per share of $0.42 for the quarter. Wedbush has a “Neutral” rating and a $32.00 price objective on the stock. Wedbush also issued estimates for Dicks Sporting Goods’ Q2 2019 earnings at $1.01 EPS, Q3 2019 earnings at $0.21 EPS and Q4 2019 earnings at $1.24 EPS.
Other equities analysts have also issued reports about the company. Deutsche Bank raised Dicks Sporting Goods from a “hold” rating to a “buy” rating and boosted their price target for the company from $33.00 to $39.00 in a research note on Friday, January 12th. BMO Capital Markets set a $40.00 price target on Dicks Sporting Goods and gave the company a “buy” rating in a research note on Thursday, January 11th. Citigroup raised Dicks Sporting Goods from a “neutral” rating to a “buy” rating and boosted their price target for the company from $28.00 to $35.00 in a research note on Tuesday, December 19th. Buckingham Research raised Dicks Sporting Goods from a “neutral” rating to a “buy” rating in a research note on Wednesday, January 17th. Finally, Zacks Investment Research raised Dicks Sporting Goods from a “hold” rating to a “buy” rating and set a $36.00 price target on the stock in a research note on Wednesday, January 31st. Three research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $34.85.
Dicks Sporting Goods (NYSE:DKS) last issued its quarterly earnings results on Tuesday, March 13th. The sporting goods retailer reported $1.22 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.20 by $0.02. Dicks Sporting Goods had a return on equity of 16.86% and a net margin of 3.77%. The firm had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.73 billion. During the same period in the previous year, the firm earned $1.32 earnings per share. The company’s revenue was up 6.5% compared to the same quarter last year.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 30th. Investors of record on Friday, March 9th will be given a $0.225 dividend. This is a positive change from Dicks Sporting Goods’s previous quarterly dividend of $0.17. This represents a $0.90 dividend on an annualized basis and a yield of 2.58%. The ex-dividend date is Thursday, March 8th. Dicks Sporting Goods’s dividend payout ratio is presently 29.90%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Arrowstreet Capital Limited Partnership raised its position in Dicks Sporting Goods by 812.5% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,469,346 shares of the sporting goods retailer’s stock valued at $70,969,000 after buying an additional 2,198,746 shares during the last quarter. Renaissance Technologies LLC raised its position in Dicks Sporting Goods by 29.6% in the 4th quarter. Renaissance Technologies LLC now owns 2,041,800 shares of the sporting goods retailer’s stock valued at $58,681,000 after buying an additional 466,700 shares during the last quarter. Okumus Fund Management Ltd. purchased a new stake in Dicks Sporting Goods in the 3rd quarter valued at $46,406,000. Dimensional Fund Advisors LP raised its position in Dicks Sporting Goods by 58.9% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,717,065 shares of the sporting goods retailer’s stock valued at $46,379,000 after buying an additional 636,186 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in Dicks Sporting Goods by 0.3% in the 4th quarter. Bank of New York Mellon Corp now owns 1,669,928 shares of the sporting goods retailer’s stock valued at $47,995,000 after buying an additional 4,794 shares during the last quarter. 71.27% of the stock is owned by institutional investors and hedge funds.
About Dicks 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.
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