DICK’S Sporting Goods (NYSE:DKS) Shares Gap Up Following Strong Earnings

DICK’S Sporting Goods, Inc. (NYSE:DKS)’s share price gapped up prior to trading on Tuesday following a better than expected earnings announcement. The stock had previously closed at $215.23, but opened at $226.79. DICK’S Sporting Goods shares last traded at $215.54, with a volume of 916,133 shares traded.

The sporting goods retailer reported $2.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.68 by $0.07. The company had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.03 billion. DICK’S Sporting Goods had a return on equity of 45.14% and a net margin of 8.46%. DICK’S Sporting Goods’s quarterly revenue was up .5% on a year-over-year basis. During the same period in the prior year, the firm posted $2.85 EPS.

DICK’S Sporting Goods Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 4th. Stockholders of record on Friday, September 20th were given a $1.10 dividend. This represents a $4.40 annualized dividend and a dividend yield of 2.07%. The ex-dividend date was Friday, September 20th. DICK’S Sporting Goods’s payout ratio is presently 32.28%.

Analyst Ratings Changes

DKS has been the topic of a number of recent analyst reports. Bank of America lifted their price objective on shares of DICK’S Sporting Goods from $240.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, September 5th. DA Davidson reiterated a “buy” rating and issued a $265.00 price target on shares of DICK’S Sporting Goods in a research note on Thursday, September 5th. Citigroup lowered their price target on DICK’S Sporting Goods from $243.00 to $230.00 and set a “neutral” rating for the company in a report on Thursday, September 5th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $260.00 price objective on shares of DICK’S Sporting Goods in a research note on Tuesday. Finally, Evercore ISI reiterated an “outperform” rating and issued a $280.00 target price on shares of DICK’S Sporting Goods in a research report on Thursday, September 5th. Nine investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $244.62.

Institutional Trading of DICK’S Sporting Goods

Institutional investors and hedge funds have recently bought and sold shares of the stock. Principal Financial Group Inc. boosted its stake in shares of DICK’S Sporting Goods by 5.5% in the 2nd quarter. Principal Financial Group Inc. now owns 239,451 shares of the sporting goods retailer’s stock valued at $51,446,000 after purchasing an additional 12,396 shares during the last quarter. Swedbank AB acquired a new position in DICK’S Sporting Goods in the first quarter valued at approximately $1,670,000. Kerusso Capital Management LLC bought a new position in shares of DICK’S Sporting Goods during the 3rd quarter worth approximately $1,554,000. &PARTNERS bought a new position in shares of DICK’S Sporting Goods during the 2nd quarter worth approximately $309,000. Finally, National Pension Service acquired a new stake in shares of DICK’S Sporting Goods during the 3rd quarter worth approximately $4,195,000. 89.83% of the stock is currently owned by institutional investors and hedge funds.

DICK’S Sporting Goods Stock Down 1.4 %

The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.69 and a current ratio of 1.77. The firm’s 50 day moving average price is $205.78 and its two-hundred day moving average price is $210.53. The company has a market cap of $17.28 billion, a P/E ratio of 15.57, a price-to-earnings-growth ratio of 2.39 and a beta of 1.64.

About DICK’S Sporting Goods

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