DICK’S Sporting Goods (NYSE:DKS) Shares Gap Up on Strong Earnings

DICK’S Sporting Goods, Inc. (NYSE:DKS) gapped up prior to trading on Tuesday after the company announced better than expected quarterly earnings. The stock had previously closed at $215.23, but opened at $226.79. DICK’S Sporting Goods shares last traded at $215.54, with a volume of 916,133 shares traded.

The sporting goods retailer reported $2.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.68 by $0.07. The business had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.03 billion. DICK’S Sporting Goods had a net margin of 8.46% and a return on equity of 45.14%. The firm’s revenue was up .5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.85 earnings per share.

DICK’S Sporting Goods Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be issued a $1.10 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.06%. DICK’S Sporting Goods’s dividend payout ratio is 32.28%.

Analyst Upgrades and Downgrades

DKS has been the topic of a number of recent research reports. UBS Group upgraded DICK’S Sporting Goods from a “neutral” rating to a “buy” rating and boosted their target price for the company from $225.00 to $260.00 in a research note on Wednesday. Telsey Advisory Group restated an “outperform” rating and set a $260.00 target price on shares of DICK’S Sporting Goods in a report on Tuesday. Wedbush reaffirmed a “neutral” rating and issued a $215.00 price target (down previously from $250.00) on shares of DICK’S Sporting Goods in a research report on Wednesday. Loop Capital increased their price objective on DICK’S Sporting Goods from $220.00 to $225.00 and gave the company a “hold” rating in a report on Wednesday. Finally, Barclays boosted their target price on DICK’S Sporting Goods from $247.00 to $254.00 and gave the stock an “overweight” rating in a report on Thursday, September 5th. Eight analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $244.95.

Hedge Funds Weigh In On DICK’S Sporting Goods

A number of large investors have recently modified their holdings of the stock. Brooklyn Investment Group bought a new stake in shares of DICK’S Sporting Goods during the third quarter worth $27,000. ICA Group Wealth Management LLC bought a new stake in DICK’S Sporting Goods during the 2nd quarter worth about $28,000. ORG Partners LLC acquired a new position in DICK’S Sporting Goods during the 2nd quarter valued at about $30,000. ORG Wealth Partners LLC bought a new position in shares of DICK’S Sporting Goods in the 3rd quarter valued at about $30,000. Finally, Innealta Capital LLC bought a new position in shares of DICK’S Sporting Goods in the 2nd quarter valued at about $31,000. 89.83% of the stock is currently owned by institutional investors and hedge funds.

DICK’S Sporting Goods Stock Performance

The firm’s 50-day moving average price is $205.76 and its 200 day moving average price is $210.64. The company has a market cap of $17.40 billion, a price-to-earnings ratio of 15.68, a PEG ratio of 2.45 and a beta of 1.64. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.69 and a current ratio of 1.77.

DICK’S Sporting Goods Company Profile

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.