Latest Stocks: Dicks Sporting Goods Inc Forecasted to Post FY2018 Earnings of $3.73 Per Share (DKS)

Latest Stocks: Dicks Sporting Goods Inc Forecasted to Post FY2018 Earnings of $3.73 Per Share (DKS)

Several other research firms have also commented on DKS. Oppenheimer Holdings Inc. reissued a “hold” rating on shares of Dicks Sporting Goods in a research report on Saturday. Monness Crespi & Hardt reduced their price target on Dicks Sporting Goods from $60.00 to $52.00 and set a “buy” rating on the stock in a research report on Wednesday. B. Riley reissued a “buy” rating and set a $58.00 price target on shares of Dicks Sporting Goods in a research report on Wednesday. Telsey Advisory Group reduced their price target on Dicks Sporting Goods from $67.00 to $52.00 and set an “outperform” rating on the stock in a research report on Wednesday. Finally, Cowen and Company reissued an “outperform” rating and set a $55.00 price target on shares of Dicks Sporting Goods in a research report on Wednesday. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twenty-one have assigned a buy rating to the company. Dicks Sporting Goods currently has a consensus rating of “Buy” and a consensus price target of $60.61.

Dicks Sporting Goods Inc (NYSE:DKS) – Equities research analysts at Wedbush increased their FY2018 earnings per share (EPS) estimates for Dicks Sporting Goods in a research note issued on Friday. Wedbush analyst C. Svezia now forecasts that the sporting goods retailer will post earnings of $3.73 per share for the year, up from their previous estimate of $3.70. Wedbush has a “Outperform” rating and a $68.00 price objective on the stock. Wedbush also issued estimates for Dicks Sporting Goods’ Q4 2018 earnings at $1.59 EPS and FY2019 earnings at $4.18 EPS.

Shares of Dicks Sporting Goods (NYSE:DKS) traded up 2.132% during mid-day trading on Monday, hitting $41.915. 5,385,230 shares of the stock traded hands. Dicks Sporting Goods has a one year low of $37.96 and a one year high of $62.88. The company has a market cap of $4.73 billion, a P/E ratio of 16.373 and a beta of 0.65. The stock has a 50 day moving average price of $49.80 and a 200-day moving average price of $52.77. A number of large investors have recently made changes to their positions in DKS. BlackRock Inc. increased its stake in shares of Dicks Sporting Goods by 2,879.3% in the first quarter. BlackRock Inc. now owns 8,515,919 shares of the sporting goods retailer’s stock valued at $414,382,000 after buying an additional 8,230,087 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Dicks Sporting Goods by 4.4% in the first quarter. Vanguard Group Inc. now owns 6,666,349 shares of the sporting goods retailer’s stock valued at $324,384,000 after buying an additional 280,056 shares in the last quarter. State Street Corp increased its stake in shares of Dicks Sporting Goods by 2.2% in the first quarter. State Street Corp now owns 3,244,995 shares of the sporting goods retailer’s stock valued at $157,904,000 after buying an additional 69,237 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of Dicks Sporting Goods by 424.3% in the first quarter. Renaissance Technologies LLC now owns 2,054,600 shares of the sporting goods retailer’s stock valued at $99,977,000 after buying an additional 1,662,700 shares in the last quarter. Finally, OZ Management LP acquired a new stake in shares of Dicks Sporting Goods during the first quarter valued at about $86,412,000. 71.76% of the stock is owned by hedge funds and other institutional investors.

In other news, Chairman Edward W. Stack sold 333,344 shares of the company’s stock in a transaction on Tuesday, March 14th. The stock was sold at an average price of $47.47, for a total transaction of $15,823,839.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Emanuel Chirico sold 20,000 shares of the company’s stock in a transaction on Friday, March 10th. The shares were sold at an average price of $48.73, for a total value of $974,600.00. Following the sale, the director now directly owns 119,171 shares of the company’s stock, valued at $5,807,202.83. The disclosure for this sale can be found here. Corporate insiders own 22.96% of the company’s stock. The business also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Friday, June 9th will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.66%. Dicks Sporting Goods’s dividend payout ratio is 21.11%.

About Dicks Sporting Goods 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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