DICK’S Sporting Goods, Inc. (NYSE:DKS) has received a consensus recommendation of “Hold” from twenty-four research firms that cover the stock, according to MarketBeat.com. The breakdown of recommendations includes two analysts advising a sell, eleven suggesting a hold, and eleven rating the stock as a buy. The average twelve-month price target among brokers reporting on the stock is currently set at $235.10.
Recent updates from various research firms highlight changes in their outlook on DICK’S stock. Notably, JPMorgan Chase & Co. raised its target price from $195.00 to $235.00, maintaining a “neutral” rating as of August 29, 2023. Conversely, Weiss Ratings downgraded the stock from a “buy (b-)” rating to a “hold (c+)” in a report released on the same day.
In another significant move, Truist Financial increased their target price on DICK’S Sporting Goods from $248.00 to $275.00, assigning a “buy” rating as of October 17, 2023. Meanwhile, BNP Paribas Exane initiated coverage with an “underperform” rating and set a target price of $177.00 on September 26, 2023. Lastly, Barclays adjusted its target price from $246.00 to $242.00, maintaining an “overweight” rating as of November 28, 2023.
Investors have also been active in adjusting their positions in DICK’S Sporting Goods. Guggenheim Capital LLC increased its holdings by 0.4% during the second quarter, now owning 11,829 shares worth approximately $2.34 million. Clearstead Advisors LLC raised its stake by 46.9% in the third quarter, acquiring an additional 46 shares and bringing their total to 144 shares valued at roughly $32,000.
Other institutional investors have similarly made adjustments. Oder Investment Management LLC grew its stake by 1.0% to a total of 5,258 shares valued at $1.06 million, while Lido Advisors LLC increased its holdings by 3.9%, now owning 1,358 shares worth $302,000. Overall, hedge funds and institutional investors currently hold approximately 89.83% of DICK’S Sporting Goods stock.
Analysts indicate that DICK’S Sporting Goods shares opened at $218.07 on November 25, 2023, reflecting a slight decrease of 0.8%. The company has a market capitalization of $17.47 billion, a debt-to-equity ratio of 0.35, and a current ratio of 1.57. The stock has fluctuated, with a one-year low of $166.37 and a high of $254.60. The price-to-earnings (P/E) ratio stands at 17.54, and the company has a beta of 1.17.
On November 25, 2023, DICK’S Sporting Goods announced its quarterly earnings, reporting $2.78 earnings per share (EPS), surpassing analysts’ expectations of $2.62 by $0.16. The company generated $4.17 billion in revenue for the quarter, falling short of the consensus estimate of $4.45 billion. DICK’S posted a return on equity of 30.55% and a net margin of 6.86%, with quarterly revenue increasing by 36.3% compared to the same quarter the previous year.
Looking ahead, DICK’S Sporting Goods has set guidance for FY 2025, projecting EPS between $14.25 and $14.55. Analysts anticipate the company will report an EPS of $13.89 for the current fiscal year.
In another development, DICK’S Sporting Goods declared a quarterly dividend, scheduled for payment on December 26, 2023. Stockholders of record on December 12, 2023, will receive a dividend of $1.2125, translating to an annualized dividend of $4.85 and a yield of 2.2%. The company’s payout ratio currently stands at 39.02%.
Founded in 1948 by Richard T. Stack, DICK’S Sporting Goods, Inc. has its headquarters in Coraopolis, Pennsylvania. The company specializes in retailing a wide range of sports equipment, apparel, footwear, and accessories, offering products both online and through mobile applications.
