Brokers Issue Forecasts for DICK’S Sporting Goods, Inc.’s FY2023 Earnings (NYSE:DKS)

DICK’S Sporting Goods, Inc. (NYSE:DKSGet Rating) – Oppenheimer increased their FY2023 earnings estimates for shares of DICK’S Sporting Goods in a note issued to investors on Wednesday, November 23rd. Oppenheimer analyst B. Nagel now forecasts that the sporting goods retailer will earn $11.65 per share for the year, up from their prior forecast of $11.11. Oppenheimer currently has a “Outperform” rating and a $138.00 target price on the stock. The consensus estimate for DICK’S Sporting Goods’ current full-year earnings is $11.89 per share.

DICK’S Sporting Goods (NYSE:DKSGet Rating) last released its quarterly earnings data on Tuesday, August 23rd. The sporting goods retailer reported $3.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.53 by $0.15. The company had revenue of $3.11 billion for the quarter, compared to analysts’ expectations of $3.07 billion. DICK’S Sporting Goods had a net margin of 9.52% and a return on equity of 52.43%. The business’s revenue was down 5.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $5.08 EPS.

Several other brokerages have also recently weighed in on DKS. Bank of America raised their price target on shares of DICK’S Sporting Goods from $105.00 to $125.00 and gave the company a “buy” rating in a research report on Friday, August 19th. The Goldman Sachs Group raised their price target on shares of DICK’S Sporting Goods from $105.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, August 24th. StockNews.com started coverage on shares of DICK’S Sporting Goods in a research report on Wednesday, October 12th. They issued a “hold” rating on the stock. Evercore ISI lifted their target price on shares of DICK’S Sporting Goods from $120.00 to $160.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 24th. Finally, Robert W. Baird boosted their target price on DICK’S Sporting Goods from $115.00 to $120.00 in a research note on Tuesday. Five investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, DICK’S Sporting Goods has a consensus rating of “Moderate Buy” and a consensus target price of $135.16.

DICK’S Sporting Goods Price Performance

DKS stock opened at $118.98 on Thursday. The stock has a market capitalization of $9.42 billion, a PE ratio of 10.50, a price-to-earnings-growth ratio of 1.98 and a beta of 1.46. The company’s 50-day moving average is $110.13 and its 200-day moving average is $98.03. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.81 and a quick ratio of 0.75. DICK’S Sporting Goods has a 1 year low of $63.45 and a 1 year high of $132.75.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Huntington National Bank raised its stake in shares of DICK’S Sporting Goods by 36,600.0% during the 1st quarter. Huntington National Bank now owns 367 shares of the sporting goods retailer’s stock valued at $37,000 after purchasing an additional 366 shares during the period. Byrne Asset Management LLC bought a new stake in shares of DICK’S Sporting Goods during the 2nd quarter valued at $38,000. CoreCap Advisors LLC bought a new stake in shares of DICK’S Sporting Goods during the 2nd quarter valued at $40,000. Northern Oak Wealth Management Inc. bought a new stake in shares of DICK’S Sporting Goods during the 2nd quarter valued at $51,000. Finally, Banque Cantonale Vaudoise raised its stake in shares of DICK’S Sporting Goods by 108.1% during the 2nd quarter. Banque Cantonale Vaudoise now owns 747 shares of the sporting goods retailer’s stock valued at $56,000 after purchasing an additional 388 shares during the period. Hedge funds and other institutional investors own 78.85% of the company’s stock.

DICK’S Sporting Goods Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 30th. Stockholders of record on Friday, December 9th will be given a dividend of $0.488 per share. The ex-dividend date of this dividend is Thursday, December 8th. This represents a $1.95 dividend on an annualized basis and a dividend yield of 1.64%. DICK’S Sporting Goods’s dividend payout ratio is presently 17.21%.

About DICK’S Sporting Goods

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DICK'S Sporting Goods, Inc, together with its subsidiaries, operates as a sporting goods retailer primarily in the eastern United States. The company provides hardlines, including sporting goods equipment, fitness equipment, golf equipment, and hunting 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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