Zacks Research Comments on DICK’S Sporting Goods, Inc.’s Q3 2024 Earnings (NYSE:DKS)

Posted by Defense World Staff on Sep 8th, 2023

DICK’S Sporting Goods, Inc. (NYSE:DKS – Free Report) – Equities research analysts at Zacks Research lowered their Q3 2024 earnings estimates for DICK’S Sporting Goods in a report issued on Tuesday, September 5th. Zacks Research analyst R. Lohia now expects that the sporting goods retailer will post earnings per share of $2.43 for the quarter, down from their previous estimate of $2.58. The consensus estimate for DICK’S Sporting Goods’ current full-year earnings is $11.86 per share. Zacks Research also issued estimates for DICK’S Sporting Goods’ Q1 2025 earnings at $2.93 EPS, Q3 2025 earnings at $2.71 EPS, Q4 2025 earnings at $3.45 EPS, Q1 2026 earnings at $3.01 EPS and FY2026 earnings at $12.84 EPS.

Several other analysts have also weighed in on DKS. Wells Fargo & Company dropped their price objective on shares of DICK’S Sporting Goods from $140.00 to $115.00 and set an “equal weight” rating for the company in a report on Wednesday, August 23rd. UBS Group decreased their price target on shares of DICK’S Sporting Goods from $160.00 to $130.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 23rd. JPMorgan Chase & Co. decreased their price target on shares of DICK’S Sporting Goods from $144.00 to $128.00 and set a “neutral” rating on the stock in a research note on Thursday, August 24th. Bank of America cut shares of DICK’S Sporting Goods from a “buy” rating to a “neutral” rating and decreased their price target for the company from $180.00 to $125.00 in a research note on Wednesday, August 23rd. Finally, Oppenheimer decreased their price target on shares of DICK’S Sporting Goods from $175.00 to $145.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 23rd. Thirteen research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, DICK’S Sporting Goods has a consensus rating of “Hold” and a consensus price target of $143.17.

View Our Latest Research Report on DICK’S Sporting Goods

DICK’S Sporting Goods Stock Performance

NYSE DKS opened at $111.05 on Thursday. The firm has a market cap of $9.44 billion, a price-to-earnings ratio of 9.85, a PEG ratio of 1.88 and a beta of 1.46. The company has a 50 day moving average of $131.81 and a 200-day moving average of $135.36. The company has a current ratio of 1.81, a quick ratio of 0.78 and a debt-to-equity ratio of 0.56. DICK’S Sporting Goods has a 1-year low of $98.01 and a 1-year high of $152.61.

DICK’S Sporting Goods (NYSE:DKS – Get Free Report) last posted its quarterly earnings data on Tuesday, August 22nd. The sporting goods retailer reported $2.82 earnings per share for the quarter, missing the consensus estimate of $3.76 by ($0.94). The firm had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.24 billion. DICK’S Sporting Goods had a return on equity of 40.52% and a net margin of 8.03%. The business’s quarterly revenue was up 3.6% on a year-over-year basis. During the same period in the previous year, the business posted $3.68 EPS.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of DKS. BlackRock Inc. grew its position in shares of DICK’S Sporting Goods by 12.1% in the 1st quarter. BlackRock Inc. now owns 5,983,808 shares of the sporting goods retailer’s stock valued at $849,043,000 after acquiring an additional 644,609 shares during the period. CIBC Private Wealth Group LLC boosted its holdings in shares of DICK’S Sporting Goods by 116.7% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,174,456 shares of the sporting goods retailer’s stock worth $141,275,000 after buying an additional 632,420 shares during the period. Barclays PLC boosted its holdings in shares of DICK’S Sporting Goods by 169.4% during the 2nd quarter. Barclays PLC now owns 238,774 shares of the sporting goods retailer’s stock worth $31,564,000 after buying an additional 583,069 shares during the period. Envestnet Asset Management Inc. boosted its holdings in shares of DICK’S Sporting Goods by 1,168.3% during the 1st quarter. Envestnet Asset Management Inc. now owns 465,279 shares of the sporting goods retailer’s stock worth $7,918,000 after buying an additional 428,593 shares during the period. Finally, Holocene Advisors LP boosted its holdings in shares of DICK’S Sporting Goods by 29.4% during the 2nd quarter. Holocene Advisors LP now owns 1,300,990 shares of the sporting goods retailer’s stock worth $171,978,000 after buying an additional 295,239 shares during the period. Institutional investors own 68.21% of the company’s stock.

Insider Buying and Selling at DICK’S Sporting Goods

In other DICK’S Sporting Goods news, Director Sandeep Mathrani purchased 1,300 shares of the stock in a transaction on Thursday, August 24th. The shares were purchased at an average cost of $113.54 per share, for a total transaction of $147,602.00. Following the purchase, the director now owns 6,647 shares of the company’s stock, valued at $754,700.38. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 30.79% of the company’s stock.

DICK’S Sporting Goods Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be paid a $1.00 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $4.00 annualized dividend and a yield of 3.60%. DICK’S Sporting Goods’s payout ratio is currently 35.49%.

DICK’S Sporting Goods Company Profile

(Get Free Report)

DICK'S Sporting Goods, Inc, together with its subsidiaries, operates as a sporting goods retailer primarily in the United States. The company provides hardlines, includes sporting goods equipment, fitness equipment, golf equipment, and hunting and fishing gear products; apparel; and footwear and accessories.