Dicks Sporting Goods Inc (NYSE:DKS) had its target price reduced by Royal Bank of Canada from $61.00 to $50.00 in a report released on Wednesday. The brokerage currently has an “outperform” rating on the sporting goods retailer’s stock. Royal Bank of Canada’s price objective points to a potential upside of 20.80% from the stock’s current price.
A number of other brokerages have also recently issued reports on DKS. B. Riley reiterated a “buy” rating and set a $64.00 target price on shares of Dicks Sporting Goods in a report on Saturday, March 11th. Monness Crespi & Hardt decreased their price target on Dicks Sporting Goods from $66.00 to $60.00 and set a “buy” rating for the company in a report on Wednesday, March 8th. Zacks Investment Research cut Dicks Sporting Goods from a “buy” rating to a “hold” rating in a report on Tuesday, January 17th. Susquehanna Bancshares Inc restated a “positive” rating and issued a $65.00 price target (down previously from $70.00) on shares of Dicks Sporting Goods in a report on Friday, March 10th. Finally, Canaccord Genuity restated a “buy” rating and issued a $67.00 price target on shares of Dicks Sporting Goods in a report on Monday, May 8th. One analyst has rated the stock with a sell rating, nine have given a hold rating and twenty-two have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $58.30.
Dicks Sporting Goods (NYSE:DKS) opened at 41.39 on Wednesday. The stock has a 50 day moving average of $49.45 and a 200 day moving average of $52.61. Dicks Sporting Goods has a 1-year low of $39.54 and a 1-year high of $62.88. The stock has a market cap of $4.57 billion, a price-to-earnings ratio of 16.03 and a beta of 0.65.
Dicks Sporting Goods (NYSE:DKS) last issued its earnings results on Tuesday, May 16th. The sporting goods retailer reported $0.54 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.54. Dicks Sporting Goods had a return on equity of 18.15% and a net margin of 4.25%. The business had revenue of $1.83 billion during the quarter, compared to analysts’ expectations of $1.83 billion. During the same quarter in the previous year, the business earned $0.50 EPS. The company’s revenue for the quarter was up 9.9% on a year-over-year basis. Equities analysts expect that Dicks Sporting Goods will post $3.69 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Friday, June 9th will be given a $0.17 dividend. The ex-dividend date of this dividend is Wednesday, June 7th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.64%. Dicks Sporting Goods’s dividend payout ratio (DPR) is 21.11%.
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In related news, Director Emanuel Chirico sold 20,000 shares of the stock in a transaction on Friday, March 10th. The stock was sold at an average price of $48.73, for a total value of $974,600.00. Following the completion of the transaction, the director now owns 119,171 shares in the company, valued at approximately $5,807,202.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Edward W. Stack sold 333,344 shares of the stock in a transaction on Tuesday, March 14th. The shares were sold at an average price of $47.47, for a total value of $15,823,839.68. The disclosure for this sale can be found here. Company insiders own 22.96% of the company’s stock.
Large investors have recently made changes to their positions in the company. Two Sigma Securities LLC acquired a new stake in shares of Dicks Sporting Goods during the third quarter valued at about $253,000. Two Sigma Advisers LP increased its stake in shares of Dicks Sporting Goods by 667.0% in the third quarter. Two Sigma Advisers LP now owns 473,267 shares of the sporting goods retailer’s stock valued at $26,844,000 after buying an additional 411,562 shares in the last quarter. OMERS ADMINISTRATION Corp acquired a new stake in shares of Dicks Sporting Goods during the third quarter valued at about $647,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Dicks Sporting Goods by 1,233.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 89,063 shares of the sporting goods retailer’s stock valued at $5,052,000 after buying an additional 82,386 shares in the last quarter. Finally, Commonwealth Bank of Australia increased its stake in shares of Dicks Sporting Goods by 1.5% in the third quarter. Commonwealth Bank of Australia now owns 13,300 shares of the sporting goods retailer’s stock valued at $756,000 after buying an additional 200 shares in the last quarter. 71.76% of the stock is owned by hedge funds and other institutional investors.
Dicks Sporting Goods Company Profile
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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