OTR Global Downgrades Dick’s Sporting Goods Inc (NYSE:DKS) to Positive

OTR Global lowered shares of Dick’s Sporting Goods Inc (NYSE:DKS) to a positive rating in a research note published on Wednesday, August 9th.

Several other equities analysts have also issued reports on DKS. UBS AG lowered Dick’s Sporting Goods from a buy rating to a neutral rating in a report on Tuesday, May 16th. Oppenheimer Holdings, Inc. reaffirmed a hold rating on shares of Dick’s Sporting Goods in a report on Saturday, May 13th. B. Riley reaffirmed a buy rating and set a $58.00 price objective on shares of Dick’s Sporting Goods in a report on Wednesday, May 17th. Canaccord Genuity set a $54.00 price objective on Dick’s Sporting Goods and gave the stock a buy rating in a report on Saturday, July 1st. Finally, Credit Suisse Group set a $44.00 price objective on Dick’s Sporting Goods and gave the stock a hold rating in a report on Monday, August 7th. Four research analysts have rated the stock with a sell rating, twenty-four have given a hold rating and seven have assigned a buy rating to the company. The stock has an average rating of Hold and an average target price of $43.74.

Shares of Dick’s Sporting Goods (DKS) opened at 26.99 on Wednesday. The stock has a market cap of $2.92 billion, a price-to-earnings ratio of 9.68 and a beta of 0.47. The company has a 50-day moving average price of $36.05 and a 200 day moving average price of $44.26. Dick’s Sporting Goods has a one year low of $26.32 and a one year high of $62.88.

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

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

Hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. boosted its stake in 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 last quarter. Vanguard Group Inc. boosted its stake in Dick’s Sporting Goods by 2.0% in the second quarter. Vanguard Group Inc. now owns 6,802,340 shares of the sporting goods retailer’s stock valued at $270,937,000 after buying an additional 135,991 shares during the last quarter. TIAA CREF Investment Management LLC boosted its stake in 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 last quarter. Northern Trust Corp boosted its stake in Dick’s Sporting Goods by 54.6% in the second quarter. Northern Trust Corp now owns 3,791,180 shares of the sporting goods retailer’s stock valued at $151,003,000 after buying an additional 1,339,379 shares during the last quarter. Finally, State Street Corp boosted its stake in Dick’s 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 during the last quarter. 76.35% of the stock is owned by institutional investors and hedge funds.

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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