DICK’S Sporting Goods (NYSE:DKS) Releases FY 2024 Earnings Guidance

DICK’S Sporting Goods (NYSE:DKS) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 13.550-13.900 for the period, compared to the consensus estimate of 13.790. The company issued revenue guidance of $13.1 billion-$13.2 billion, compared to the consensus revenue estimate of $13.2 billion. DICK’S Sporting Goods also updated its FY25 guidance to $13.55-$13.90 EPS.

DICK’S Sporting Goods Stock Down 3.2 %

Shares of NYSE:DKS opened at $208.04 on Friday. DICK’S Sporting Goods has a 52-week low of $100.98 and a 52-week high of $239.30. The stock has a market cap of $16.95 billion, a P/E ratio of 17.22, a price-to-earnings-growth ratio of 2.59 and a beta of 1.65. The business’s 50 day moving average is $214.27 and its 200 day moving average is $207.70. The company has a quick ratio of 0.65, a current ratio of 1.71 and a debt-to-equity ratio of 0.55.

DICK’S Sporting Goods (NYSE:DKS) last announced its earnings results on Wednesday, September 4th. The sporting goods retailer reported $4.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.77 by $0.60. The business had revenue of $3.47 billion for the quarter, compared to analysts’ expectations of $3.44 billion. DICK’S Sporting Goods had a return on equity of 41.80% and a net margin of 7.73%. The business’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter last year, the firm earned $2.82 EPS. Sell-side analysts predict that DICK’S Sporting Goods will post 13.8 EPS for the current year.

DICK’S Sporting Goods Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 4th. Stockholders of record on Friday, September 20th will be given a $1.10 dividend. The ex-dividend date of this dividend is Thursday, September 19th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.11%. DICK’S Sporting Goods’s payout ratio is 36.42%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on DKS. JPMorgan Chase & Co. raised their price objective on DICK’S Sporting Goods from $197.00 to $211.00 and gave the stock a neutral rating in a research report on Thursday, May 30th. Wells Fargo & Company lowered their price objective on DICK’S Sporting Goods from $230.00 to $227.00 and set an equal weight rating for the company in a research report on Monday, August 12th. Wedbush restated a neutral rating and issued a $250.00 target price on shares of DICK’S Sporting Goods in a research note on Thursday. Barclays raised their target price on DICK’S Sporting Goods from $247.00 to $254.00 and gave the stock an overweight rating in a research note on Thursday. Finally, UBS Group raised their target price on DICK’S Sporting Goods from $220.00 to $225.00 and gave the stock a neutral rating in a research note on Monday, August 26th. Ten investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and an average target price of $244.43.

Insider Activity at DICK’S Sporting Goods

In related news, Director Desiree Ralls-Morrison sold 3,489 shares of DICK’S Sporting Goods stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $206.65, for a total value of $721,001.85. Following the completion of the transaction, the director now owns 5,609 shares in the company, valued at approximately $1,159,099.85. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 32.03% of the stock is owned by company insiders.

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.