Dicks Sporting Goods Inc (NYSE:DKS) shot up 5.1% on Wednesday following a stronger than expected earnings report. The company traded as high as $34.82 and last traded at $34.57. 11,692,180 shares traded hands during trading, an increase of 223% from the average session volume of 3,616,343 shares. The stock had previously closed at $32.88.
The sporting goods retailer reported $1.22 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.20 by $0.02. Dicks Sporting Goods had a return on equity of 17.95% and a net margin of 3.54%. The company had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.73 billion. During the same quarter last year, the business posted $1.32 earnings per share. The firm’s revenue was up 6.5% compared to the same quarter last year.
The firm also recently disclosed 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 represents a $0.90 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date of this dividend is Thursday, March 8th. This is an increase from Dicks Sporting Goods’s previous quarterly dividend of $0.17. Dicks Sporting Goods’s dividend payout ratio (DPR) is 33.21%.
A number of brokerages recently issued reports on DKS. Oppenheimer reiterated a “hold” rating on shares of Dicks Sporting Goods in a research report on Tuesday, November 14th. Forward View upgraded Dicks Sporting Goods from a “sell” rating to a “buy” rating and set a $30.00 price objective on the stock in a research report on Thursday, November 16th. Telsey Advisory Group upgraded Dicks Sporting Goods from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $25.00 to $42.00 in a research report on Thursday, January 25th. Citigroup lowered their price target on Dicks Sporting Goods from $30.00 to $28.00 and set a “neutral” rating on the stock in a research report on Thursday, November 16th. Finally, Wedbush restated a “neutral” rating and set a $32.00 price target (up previously from $28.00) on shares of Dicks Sporting Goods in a research report on Wednesday, March 7th. Three equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $33.96.
Several institutional investors and hedge funds have recently added to or reduced their stakes in DKS. Okumus Fund Management Ltd. bought a new stake in shares of Dicks Sporting Goods in the third quarter worth about $46,406,000. Crossmark Global Holdings Inc. bought a new stake in shares of Dicks Sporting Goods in the third quarter worth about $327,000. Schroder Investment Management Group grew its stake in shares of Dicks Sporting Goods by 256.7% in the third quarter. Schroder Investment Management Group now owns 543,300 shares of the sporting goods retailer’s stock worth $14,903,000 after purchasing an additional 391,000 shares during the last quarter. Tredje AP fonden grew its stake in shares of Dicks Sporting Goods by 68.6% in the third quarter. Tredje AP fonden now owns 28,751 shares of the sporting goods retailer’s stock worth $777,000 after purchasing an additional 11,700 shares during the last quarter. Finally, Asset Management One Co. Ltd. grew its stake in shares of Dicks Sporting Goods by 37.2% in the third quarter. Asset Management One Co. Ltd. now owns 185,890 shares of the sporting goods retailer’s stock worth $5,029,000 after purchasing an additional 50,383 shares during the last quarter. Hedge funds and other institutional investors own 71.27% of the company’s stock.
The company has a debt-to-equity ratio of 0.28, a current ratio of 1.61 and a quick ratio of 0.25. The company has a market cap of $3,710.00, a P/E ratio of 12.76, a PEG ratio of 1.90 and a beta of 0.56.
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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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