Dick’s Sporting Goods Inc (DKS) Hits New 12-Month Low at $35.59

Dick’s Sporting Goods Inc (NYSE:DKS)’s share price hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $35.59 and last traded at $35.51, with a volume of 3,237,288 shares changing hands. The stock had previously closed at $37.16.

Several equities analysts have recently issued reports on DKS shares. Bank of America Corporation reiterated a “buy” rating and set a $55.00 price target (down from $65.00) on shares of Dick’s Sporting Goods in a research report on Wednesday, May 17th. Wedbush reiterated an “outperform” rating and set a $68.00 price target on shares of Dick’s Sporting Goods in a research report on Sunday, May 14th. Canaccord Genuity reiterated a “buy” rating and set a $52.00 price target on shares of Dick’s Sporting Goods in a research report on Friday, July 21st. Telsey Advisory Group cut Dick’s Sporting Goods from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $52.00 to $40.00 in a research report on Monday, July 24th. Finally, Cleveland Research cut Dick’s Sporting Goods from a “buy” rating to a “hold” rating in a research report on Monday, July 10th. Four equities research analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and seven have given a buy rating to the company’s stock. Dick’s Sporting Goods presently has a consensus rating of “Hold” and a consensus price target of $43.74.

The firm’s 50-day moving average is $36.05 and its 200-day moving average is $44.26. The company has a market cap of $2.92 billion, a P/E ratio of 9.68 and a beta of 0.47.

Dick’s Sporting Goods (NYSE:DKS) last posted its quarterly earnings data on Tuesday, August 15th. The sporting goods retailer reported $0.96 EPS for the quarter, missing the Zacks’ consensus estimate of $1.00 by $0.04. Dick’s Sporting Goods had a return on equity of 19.09% and a net margin of 3.74%. The business had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same quarter in the prior year, the company earned $0.82 earnings per share. The company’s quarterly revenue was up 9.6% on a year-over-year basis. Equities research analysts anticipate that Dick’s Sporting Goods Inc will post $2.98 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 8th will be paid a $0.17 dividend. The ex-dividend date is Thursday, September 7th. This represents a $0.68 annualized dividend and a yield of 2.52%. Dick’s Sporting Goods’s dividend payout ratio (DPR) is currently 24.29%.

A number of large investors have recently modified their holdings of DKS. BlackRock Inc. increased its stake in shares of Dick’s 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 during the period. TIAA CREF Investment Management LLC increased its stake in shares of Dick’s Sporting Goods by 263.8% in the second quarter. TIAA CREF Investment Management LLC now owns 5,634,221 shares of the sporting goods retailer’s stock valued at $224,411,000 after buying an additional 4,085,414 shares during the period. OZ Management LP purchased a new stake in shares of Dick’s Sporting Goods during the first quarter valued at about $86,412,000. Renaissance Technologies LLC increased its stake in shares of Dick’s 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 during the period. Finally, SRS Investment Management LLC bought a new position in Dick’s Sporting Goods during the first quarter valued at $72,194,000. Institutional investors and hedge funds own 76.35% of the company’s stock.

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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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