Dick’s Sporting Goods Inc (DKS) Downgraded by MKM Partners to “Neutral”

MKM Partners cut shares of Dick’s Sporting Goods Inc (NYSE:DKS) from a buy rating to a neutral rating in a research report sent to investors on Tuesday, Marketbeat Ratings reports. MKM Partners currently has $30.00 price target on the sporting goods retailer’s stock, down from their previous price target of $47.00.

A number of other equities analysts have also recently commented on DKS. UBS AG cut Dick’s Sporting Goods from a buy rating to a neutral rating in a report on Tuesday, May 16th. Oppenheimer Holdings, Inc. reissued a hold rating on shares of Dick’s Sporting Goods in a report on Saturday, May 13th. B. Riley reissued a buy rating and set a $58.00 target price on shares of Dick’s Sporting Goods in a report on Wednesday, May 17th. Canaccord Genuity set a $54.00 target price on Dick’s Sporting Goods and gave the company a buy rating in a report on Saturday, July 1st. Finally, Wedbush cut Dick’s Sporting Goods from an outperform rating to a neutral rating and set a $29.00 target price for the company. in a report on Tuesday. Four research analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and seven have issued a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus target price of $43.74.

Shares of Dick’s Sporting Goods (DKS) opened at 26.99 on Tuesday. Dick’s Sporting Goods has a 52 week low of $26.32 and a 52 week high of $62.88. The company has a market cap of $2.92 billion, a P/E ratio of 9.68 and a beta of 0.47. The company’s 50-day moving average price is $36.05 and its 200 day moving average price is $44.26.

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

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

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its position 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 worth $414,382,000 after buying an additional 8,230,087 shares during the period. Vanguard Group Inc. raised its position 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 worth $270,937,000 after buying an additional 135,991 shares during the period. TIAA CREF Investment Management LLC raised its position 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 worth $224,411,000 after buying an additional 4,085,414 shares during the period. Northern Trust Corp raised its position 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 worth $151,003,000 after buying an additional 1,339,379 shares during the period. Finally, State Street Corp raised its position 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 worth $157,904,000 after buying an additional 69,237 shares during the period. Hedge funds and other institutional investors own 76.35% 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.

Analyst Recommendations for Dick`s Sporting Goods (NYSE:DKS)

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