Dick’s Sporting Goods (NYSE:DKS)‘s stock had its “buy” rating reiterated by investment analysts at Citigroup Inc. in a note issued to investors on Wednesday, StockRatingsNetwork reports. They currently have a $66.00 price target on the stock, up from their previous price target of $63.00. Citigroup Inc.’s price target suggests a potential upside of 17.56% from the company’s current price.
The analysts wrote, “DKS posted a solid Q3 beat today on strong execution through near-term headwinds, while also continuing to focus on long-term growth initiatives and cash returns to shareholders. Management’s proactive strategy of increased marketing, beefed up staffing in key service-oriented departments, and more opening price points/select competitive action paid off this quarter, as traffic rebounded to +1.9% following 1H declines. While merchandise margins are now expected to be down slightly in 2H (down from previous guidance of 2H expansion), management believes its assortment in the core Dick’s concept remains well positioned for holiday (including inventories in seasonal outerwear), while more strategic DTC marketing should further benefit traffic.”
A number of other firms have also recently commented on DKS. Analysts at Monness Crespi & Hardt raised their price target on shares of Dick’s Sporting Goods from $57.00 to $65.00 in a research note to investors on Wednesday. They now have a “buy” rating on the stock. Separately, analysts at Imperial Capital raised their price target on shares of Dick’s Sporting Goods from $52.00 to $57.00 in a research note to investors on Wednesday. They now have an “in-line” rating on the stock. Finally, analysts at BMO Capital Markets downgraded shares of Dick’s Sporting Goods from a “market perform” rating to an “underperform” rating in a research note to investors on Wednesday. Two research analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $57.73.
Dick’s Sporting Goods (NYSE:DKS) traded down 2.12% during mid-day trading on Wednesday, hitting $54.95. The stock had a trading volume of 726,970 shares. Dick’s Sporting Goods has a 52-week low of $44.24 and a 52-week high of $58.40. The stock has a 50-day moving average of $53.33 and a 200-day moving average of $51.51. The company has a market cap of $6.897 billion and a P/E ratio of 21.52. Dick’s Sporting Goods also was the recipient of some unusual options trading on Monday. Stock traders acquired 6,309 put options on the stock. This is an increase of 661% compared to the average daily volume of 829 put options.
Dick’s Sporting Goods (NYSE:DKS) last announced its earnings results on Tuesday, November 12th. The company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.01. The company had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.37 billion. During the same quarter in the previous year, the company posted $0.40 earnings per share. The company’s revenue for the quarter was up 6.7% on a year-over-year basis. On average, analysts predict that Dick’s Sporting Goods will post $2.64 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, December 27th. Stockholders of record on Friday, December 6th will be paid a dividend of $0.13 per share. This represents a $0.50 annualized dividend and a dividend yield of 0.89%.
DICK’S Sporting Goods, Inc is a sports and fitness specialty omni-channel retailer offering a range of brand name sporting goods equipment, apparel and footwear in a specialty store environment.
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