Dicks Sporting Goods Inc (DKS) Declares $0.23 Quarterly Dividend
Dicks Sporting Goods Inc (NYSE:DKS) announced a quarterly dividend on Friday, August 24th, NASDAQ reports. Investors of record on Friday, September 14th will be given a dividend of 0.225 per share by the sporting goods retailer on Friday, September 28th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 2.36%. The ex-dividend date is Thursday, September 13th.
Dicks Sporting Goods has raised its dividend payment by an average of 10.8% annually over the last three years and has increased its dividend every year for the last 3 years. Dicks Sporting Goods has a payout ratio of 28.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Dicks Sporting Goods to earn $3.30 per share next year, which means the company should continue to be able to cover its $0.90 annual dividend with an expected future payout ratio of 27.3%.
Shares of NYSE:DKS traded down $0.26 during mid-day trading on Friday, reaching $38.08. The company had a trading volume of 1,868,675 shares, compared to its average volume of 4,225,997. The company has a current ratio of 1.53, a quick ratio of 0.24 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $3.93 billion, a PE ratio of 12.65, a price-to-earnings-growth ratio of 1.74 and a beta of 0.44. Dicks Sporting Goods has a one year low of $23.88 and a one year high of $39.71.
DKS has been the topic of several research analyst reports. Wedbush reaffirmed a “neutral” rating and issued a $37.00 price target (up previously from $32.00) on shares of Dicks Sporting Goods in a report on Thursday, May 31st. Zacks Investment Research raised shares of Dicks Sporting Goods from a “hold” rating to a “buy” rating and set a $39.00 price target on the stock in a report on Monday, July 16th. Citigroup upped their price target on shares of Dicks Sporting Goods from $38.00 to $41.00 and gave the stock a “buy” rating in a report on Thursday, May 31st. ValuEngine cut shares of Dicks Sporting Goods from a “sell” rating to a “strong sell” rating in a report on Monday, July 2nd. Finally, Deutsche Bank upped their price target on shares of Dicks Sporting Goods to $45.00 and gave the stock a “buy” rating in a report on Thursday, May 31st. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and thirteen have issued a buy rating to the company. Dicks Sporting Goods presently has an average rating of “Hold” and an average target price of $36.38.
About Dicks Sporting Goods
Dick's Sporting Goods, Inc operates as a sporting goods retailer primarily in the eastern United States. It provides hardlines, including sporting goods equipment, fitness equipment, golf equipment, and hunting and fishing gear products; apparel; and footwear and accessories. The company also owns and operates Golf Galaxy, Field & Stream, and other specialty concept stores; and e-commerce Websites, as well as Dick's Team Sports HQ, a youth sports digital platform that offers free league management services, mobile apps for scheduling, communications and live scorekeeping, custom uniforms and fan wear, and access to donations and sponsorships.
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