DICK’S Sporting Goods, Inc. Declares Quarterly Dividend of $1.10 (NYSE:DKS)

DICK’S Sporting Goods, Inc. (NYSE:DKS) announced a quarterly dividend on Wednesday, November 27th,Wall Street Journal reports. Investors of record on Friday, December 13th will be given a dividend of 1.10 per share by the sporting goods retailer on Friday, December 27th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date of this dividend is Friday, December 13th.

DICK’S Sporting Goods has increased its dividend by an average of 47.4% annually over the last three years. DICK’S Sporting Goods has a dividend payout ratio of 29.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect DICK’S Sporting Goods to earn $14.78 per share next year, which means the company should continue to be able to cover its $4.40 annual dividend with an expected future payout ratio of 29.8%.

DICK’S Sporting Goods Trading Up 0.7 %

NYSE:DKS traded up $1.48 during trading hours on Wednesday, hitting $213.70. The stock had a trading volume of 1,939,434 shares, compared to its average volume of 1,091,869. DICK’S Sporting Goods has a one year low of $120.39 and a one year high of $239.30. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.69 and a current ratio of 1.77. The company has a market cap of $17.40 billion, a price-to-earnings ratio of 15.68, a P/E/G ratio of 2.45 and a beta of 1.64. The business’s 50 day moving average is $205.76 and its 200-day moving average is $210.64.

DICK’S Sporting Goods (NYSE:DKS) last issued its earnings results on Tuesday, November 26th. The sporting goods retailer reported $2.75 EPS for the quarter, beating the consensus estimate of $2.68 by $0.07. DICK’S Sporting Goods had a net margin of 8.46% and a return on equity of 45.14%. The firm had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $3.03 billion. During the same quarter in the prior year, the firm earned $2.85 earnings per share. The business’s quarterly revenue was up .5% on a year-over-year basis. Sell-side analysts anticipate that DICK’S Sporting Goods will post 13.88 EPS for the current fiscal year.

Wall Street Analyst Weigh In

DKS has been the subject of several research analyst reports. Truist Financial upped their price target on shares of DICK’S Sporting Goods from $256.00 to $258.00 and gave the company a “buy” rating in a report on Wednesday. JPMorgan Chase & Co. upped their price target on shares of DICK’S Sporting Goods from $211.00 to $215.00 and gave the company a “neutral” rating in a report on Monday, September 9th. Barclays upped their price target on shares of DICK’S Sporting Goods from $247.00 to $254.00 and gave the company an “overweight” rating in a report on Thursday, September 5th. Wells Fargo & Company reduced their price target on shares of DICK’S Sporting Goods from $230.00 to $227.00 and set an “equal weight” rating for the company in a report on Monday, August 12th. Finally, Loop Capital upped their price target on shares of DICK’S Sporting Goods from $220.00 to $225.00 and gave the company a “hold” rating in a report on Wednesday. Eight investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $244.95.

DICK’S Sporting Goods Company Profile

DICK'S Sporting Goods, Inc, together with its subsidiaries, operates as an omni-channel sporting goods retailer primarily in the United States. The company provides hardlines, includes sporting goods equipment, fitness equipment, golf equipment, and fishing gear products; apparel; and footwear and accessories.