DICK’S Sporting Goods, Inc. (DKS) to Issue Quarterly Dividend of $1.21 on June 27th

DICK’S Sporting Goods, Inc. (NYSE:DKS) announced a quarterly dividend on Thursday, May 29th, Wall Street Journal reports. Stockholders of record on Friday, June 13th will be paid a dividend of 1.2125 per share by the sporting goods retailer on Friday, June 27th. This represents a $4.85 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date is Friday, June 13th.

DICK’S Sporting Goods has a payout ratio of 32.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect DICK’S Sporting Goods to earn $14.79 per share next year, which means the company should continue to be able to cover its $4.85 annual dividend with an expected future payout ratio of 32.8%.

DICK’S Sporting Goods Price Performance

DICK’S Sporting Goods stock opened at $182.74 on Wednesday. The stock has a market capitalization of $14.59 billion, a P/E ratio of 13.06, a P/E/G ratio of 2.47 and a beta of 1.07. The company’s fifty day moving average price is $184.53 and its 200 day moving average price is $208.87. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.56 and a current ratio of 1.72. DICK’S Sporting Goods has a 1 year low of $166.37 and a 1 year high of $254.60.

DICK’S Sporting Goods (NYSE:DKS) last announced its quarterly earnings data on Wednesday, May 28th. The sporting goods retailer reported $3.37 earnings per share for the quarter, meeting analysts’ consensus estimates of $3.37. DICK’S Sporting Goods had a return on equity of 42.00% and a net margin of 8.65%. The company had revenue of $3.16 billion for the quarter, compared to analyst estimates of $3.12 billion. As a group, equities research analysts anticipate that DICK’S Sporting Goods will post 13.89 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Barclays upped their price target on DICK’S Sporting Goods from $217.00 to $232.00 and gave the stock an “overweight” rating in a research note on Thursday, May 29th. UBS Group cut their price target on DICK’S Sporting Goods from $260.00 to $225.00 and set a “buy” rating on the stock in a report on Thursday, May 29th. DA Davidson decreased their price objective on DICK’S Sporting Goods from $273.00 to $230.00 and set a “buy” rating for the company in a research note on Thursday, May 29th. Telsey Advisory Group restated an “outperform” rating and set a $220.00 target price on shares of DICK’S Sporting Goods in a research note on Wednesday, May 28th. Finally, Wedbush reiterated a “neutral” rating and issued a $215.00 price target on shares of DICK’S Sporting Goods in a research note on Wednesday, March 12th. One analyst has rated the stock with a sell rating, ten have given a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $220.11.

DICK’S Sporting Goods announced that its Board of Directors has authorized a share repurchase plan on Tuesday, March 11th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the sporting goods retailer to repurchase up to 18.5% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.

About DICK’S Sporting Goods

Dick’s Sporting Goods, Inc engages in the retailing of an extensive assortment of authentic sports equipment, apparel, footwear, and accessories. It also offers its products both online and through mobile applications. The company was founded by Richard T. Stack in 1948 and is headquartered in Coraopolis, PA.