Royal Bank Of Canada Lowers Dick’s Sporting Goods Inc (DKS) Price Target to $24.00
Dick’s Sporting Goods Inc (NYSE:DKS) had its price target reduced by Royal Bank Of Canada from $26.00 to $24.00 in a report published on Wednesday, Marketbeat Ratings reports. They currently have a sector perform rating on the sporting goods retailer’s stock.
DKS has been the topic of a number of other research reports. BidaskClub lowered Dick’s Sporting Goods from a sell rating to a strong sell rating in a report on Tuesday, July 25th. Wells Fargo & Company set a $29.00 target price on Dick’s Sporting Goods and gave the company a hold rating in a report on Wednesday, October 11th. BMO Capital Markets reissued a buy rating and issued a $37.00 target price on shares of Dick’s Sporting Goods in a report on Thursday, November 2nd. Cowen and Company reissued a hold rating and issued a $28.00 target price on shares of Dick’s Sporting Goods in a report on Thursday, September 28th. Finally, Credit Suisse Group set a $44.00 target price on Dick’s Sporting Goods and gave the company a hold rating in a report on Monday, August 7th. Two analysts have rated the stock with a sell rating, twenty-six have assigned a hold rating and seven have assigned a buy rating to the company. The company presently has an average rating of Hold and an average target price of $33.12.
Dick’s Sporting Goods (DKS) opened at $28.80 on Wednesday. The stock has a market capitalization of $3,149.71, a P/E ratio of 9.23, a PEG ratio of 1.49 and a beta of 0.48. The company has a quick ratio of 0.24, a current ratio of 1.61 and a debt-to-equity ratio of 0.28. Dick’s Sporting Goods has a twelve month low of $23.88 and a twelve month high of $62.80.
Dick’s Sporting Goods (NYSE:DKS) last released its earnings results on Tuesday, November 14th. The sporting goods retailer reported $0.30 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.04. The business had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.90 billion. Dick’s Sporting Goods had a return on equity of 17.95% and a net margin of 3.54%. The company’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.48 earnings per share. sell-side analysts forecast that Dick’s Sporting Goods will post 2.97 EPS for the current year.
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The firm also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 8th will be given a dividend of $0.17 per share. The ex-dividend date is Thursday, December 7th. This represents a $0.68 annualized dividend and a yield of 2.36%. Dick’s Sporting Goods’s dividend payout ratio (DPR) is presently 25.09%.
In other Dick’s Sporting Goods news, Director William J. Colombo bought 20,000 shares of Dick’s Sporting Goods stock in a transaction that occurred on Tuesday, August 22nd. The shares were purchased at an average cost of $26.25 per share, for a total transaction of $525,000.00. Following the completion of the transaction, the director now owns 323,224 shares of the company’s stock, valued at approximately $8,484,630. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 23.09% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in Dick’s Sporting Goods by 2.0% during the second quarter. Vanguard Group Inc. now owns 6,802,340 shares of the sporting goods retailer’s stock worth $270,937,000 after buying an additional 135,991 shares during the period. TIAA CREF Investment Management LLC increased its stake in Dick’s Sporting Goods by 263.8% during the second quarter. TIAA CREF Investment Management LLC now owns 5,634,221 shares of the sporting goods retailer’s stock worth $224,411,000 after acquiring an additional 4,085,414 shares during the last quarter. Northern Trust Corp increased its stake in Dick’s Sporting Goods by 54.6% during the second quarter. Northern Trust Corp now owns 3,791,180 shares of the sporting goods retailer’s stock worth $151,003,000 after acquiring an additional 1,339,379 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Dick’s Sporting Goods by 10.7% during the second quarter. Bank of New York Mellon Corp now owns 1,828,157 shares of the sporting goods retailer’s stock worth $72,815,000 after acquiring an additional 176,439 shares during the last quarter. Finally, Okumus Fund Management Ltd. acquired a new stake in Dick’s Sporting Goods during the third quarter worth about $46,406,000. Hedge funds and other institutional investors own 75.92% of the company’s stock.
About Dick’s 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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