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

DICK’S Sporting Goods, Inc. (NYSE:DKS) announced a quarterly dividend on Monday, November 25th,Wall Street Journal reports. Shareholders 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 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date of this dividend 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% indicating that 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 Price Performance

Shares of DKS stock traded up $1.48 on Wednesday, hitting $213.70. 1,939,441 shares of the stock traded hands, compared to its average volume of 1,091,873. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.77 and a quick ratio of 0.69. The firm has a 50 day simple moving average of $205.76 and a two-hundred day simple moving average of $210.64. The firm has a market cap of $17.40 billion, a price-to-earnings ratio of 15.68, a PEG ratio of 2.45 and a beta of 1.64. DICK’S Sporting Goods has a 52 week low of $120.39 and a 52 week high of $239.30.

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

Analysts Set New Price Targets

Several analysts have commented on the stock. Robert W. Baird reiterated a “neutral” rating and issued a $235.00 price target on shares of DICK’S Sporting Goods in a research note on Wednesday, August 28th. Loop Capital lifted their price objective on DICK’S Sporting Goods from $220.00 to $225.00 and gave the stock a “hold” rating in a research note on Wednesday. Wells Fargo & Company lowered their target price on DICK’S Sporting Goods from $230.00 to $227.00 and set an “equal weight” rating for the company in a research report on Monday, August 12th. Evercore ISI reaffirmed an “outperform” rating and set a $280.00 price target on shares of DICK’S Sporting Goods in a research note on Thursday, September 5th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of 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. Eight investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price 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.