DA Davidson Weighs in on DICK’S Sporting Goods, Inc.’s FY2022 Earnings (NYSE:DKS)

DICK’S Sporting Goods, Inc. (NYSE:DKS) – Stock analysts at DA Davidson lifted their FY2022 earnings estimates for DICK’S Sporting Goods in a note issued to investors on Wednesday, November 24th. DA Davidson analyst M. Baker now expects that the sporting goods retailer will post earnings of $14.69 per share for the year, up from their prior forecast of $12.70. DA Davidson also issued estimates for DICK’S Sporting Goods’ FY2023 earnings at $13.12 EPS.

DICK’S Sporting Goods (NYSE:DKS) last issued its quarterly earnings data on Tuesday, November 23rd. The sporting goods retailer reported $3.19 EPS for the quarter, topping analysts’ consensus estimates of $1.97 by $1.22. The business had revenue of $2.75 billion for the quarter, compared to analysts’ expectations of $2.49 billion. DICK’S Sporting Goods had a net margin of 11.55% and a return on equity of 54.06%. The business’s revenue was up 13.9% on a year-over-year basis. During the same quarter last year, the company earned $2.01 EPS.

A number of other brokerages have also recently commented on DKS. Raymond James raised shares of DICK’S Sporting Goods from an “underperform” rating to a “market perform” rating in a research note on Thursday, August 26th. Zacks Investment Research raised shares of DICK’S Sporting Goods from a “hold” rating to a “strong-buy” rating and set a $136.00 price objective on the stock in a research note on Wednesday, October 6th. Wedbush raised their price objective on shares of DICK’S Sporting Goods from $150.00 to $155.00 and gave the stock a “sell” rating in a research note on Wednesday, November 24th. Stifel Nicolaus increased their target price on DICK’S Sporting Goods from $126.00 to $130.00 and gave the company a “hold” rating in a research report on Tuesday, November 23rd. Finally, UBS Group increased their target price on DICK’S Sporting Goods from $115.00 to $142.00 and gave the company a “neutral” rating in a research report on Thursday, August 26th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $127.00.

Shares of NYSE DKS opened at $122.90 on Monday. The stock has a market capitalization of $10.89 billion, a price-to-earnings ratio of 9.51, a PEG ratio of 0.76 and a beta of 1.72. DICK’S Sporting Goods has a 12 month low of $51.51 and a 12 month high of $147.39. The firm’s 50 day simple moving average is $126.93 and its 200-day simple moving average is $113.86. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.52 and a quick ratio of 0.94.

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of DICK’S Sporting Goods by 1.4% during the 2nd quarter. Vanguard Group Inc. now owns 5,499,904 shares of the sporting goods retailer’s stock worth $551,036,000 after purchasing an additional 75,099 shares during the last quarter. Atreides Management LP grew its position in DICK’S Sporting Goods by 15.6% in the 2nd quarter. Atreides Management LP now owns 2,892,421 shares of the sporting goods retailer’s stock valued at $289,792,000 after acquiring an additional 389,939 shares in the last quarter. Goldman Sachs Group Inc. grew its position in DICK’S Sporting Goods by 18.4% in the 3rd quarter. Goldman Sachs Group Inc. now owns 2,318,344 shares of the sporting goods retailer’s stock valued at $277,668,000 after acquiring an additional 360,476 shares in the last quarter. Dimensional Fund Advisors LP grew its position in DICK’S Sporting Goods by 0.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,171,797 shares of the sporting goods retailer’s stock valued at $260,155,000 after acquiring an additional 17,713 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its position in DICK’S Sporting Goods by 13.6% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,554,136 shares of the sporting goods retailer’s stock valued at $186,139,000 after acquiring an additional 186,174 shares in the last quarter. 89.50% of the stock is owned by hedge funds and other institutional investors.

In other news, EVP Vladimir Rak sold 10,011 shares of DICK’S Sporting Goods stock in a transaction on Wednesday, September 1st. The stock was sold at an average price of $145.08, for a total transaction of $1,452,395.88. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Lee J. Belitsky sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, September 1st. The stock was sold at an average price of $144.12, for a total value of $2,882,400.00. Following the sale, the chief financial officer now directly owns 269,943 shares of the company’s stock, valued at $38,904,185.16. The disclosure for this sale can be found here. Company insiders own 30.09% of the company’s stock.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 29th. Shareholders of record on Friday, December 10th will be issued a $0.4375 dividend. The ex-dividend date is Thursday, December 9th. This represents a $1.75 dividend on an annualized basis and a yield of 1.42%. DICK’S Sporting Goods’s payout ratio is currently 13.53%.

About DICK’S Sporting Goods

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

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