DICK’S Sporting Goods, Inc. (DKS) to Issue Quarterly Dividend of $1.10 on December 27th

DICK’S Sporting Goods, Inc. (NYSE:DKS) declared a quarterly dividend on Monday, November 25th,Wall Street Journal reports. Stockholders of record on Friday, December 13th will be paid a dividend of 1.10 per share by the sporting goods retailer on Friday, December 27th. This represents a $4.40 annualized dividend and a dividend yield of 2.06%. The ex-dividend date is Friday, December 13th.

DICK’S Sporting Goods has increased its dividend payment by an average of 47.4% per year 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. Equities research analysts expect DICK’S Sporting Goods to earn $14.75 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 Price Performance

DKS stock opened at $213.88 on Wednesday. DICK’S Sporting Goods has a 52-week low of $136.92 and a 52-week high of $239.30. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.56 and a current ratio of 1.72. The company has a market capitalization of $17.42 billion, a P/E ratio of 15.29, a price-to-earnings-growth ratio of 2.47 and a beta of 1.61. The business has a 50-day simple moving average of $205.70 and a two-hundred day simple moving average of $212.02.

DICK’S Sporting Goods (NYSE:DKS) last released its quarterly earnings data on Tuesday, November 26th. The sporting goods retailer reported $2.75 earnings per share for the quarter, beating analysts’ consensus estimates of $2.68 by $0.07. The business had revenue of $3.06 billion during the quarter, compared to analyst estimates of $3.03 billion. DICK’S Sporting Goods had a net margin of 8.65% and a return on equity of 42.00%. DICK’S Sporting Goods’s revenue was up .5% compared to the same quarter last year. During the same period in the previous year, the business earned $2.85 EPS. Research analysts expect that DICK’S Sporting Goods will post 13.88 EPS for the current fiscal year.

Analysts Set New Price Targets

DKS has been the topic of several recent analyst reports. UBS Group upgraded shares of DICK’S Sporting Goods from a “neutral” rating to a “buy” rating and raised their target price for the stock from $225.00 to $260.00 in a report on Wednesday, November 27th. Robert W. Baird reiterated a “neutral” rating and set a $235.00 price target on shares of DICK’S Sporting Goods in a report on Wednesday, August 28th. TD Cowen raised their price target on shares of DICK’S Sporting Goods from $266.00 to $270.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. JPMorgan Chase & Co. upped their price objective on DICK’S Sporting Goods from $211.00 to $215.00 and gave the stock a “neutral” rating in a research note on Monday, September 9th. Finally, Truist Financial raised their target price on shares of DICK’S Sporting Goods from $256.00 to $258.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. Eight research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, DICK’S Sporting Goods presently has a consensus rating of “Moderate Buy” and an average price target of $244.95.

About DICK’S Sporting Goods

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.