DKS Shines in Q4: Stock Surges on Strong Earnings

DKS Stock

Following the release of its Q4 earnings, Dick’s Sporting Goods (DKS:NYE) saw an increase in its share price during pre-market trading on Tuesday. The athletic goods store reported an increase in comparable sales of 5.3%, which was more than double the 2.5% increase predicted by experts. Their good performance contributed to a 7.3% increase in sales year-over-year to $3.6 billion, exceeding analyst projections of $3.45 billion.

Despite fourth-quarter adjusted earnings of $2.93 per share, reflecting a 20% year-over-year fall, the results above analysts’ consensus forecast of $2.88 per share. Also, the company’s management has announced that the quarterly dividend will be doubled to $1 per share, payable in cash on March 31 to stockholders of record as of the close of business on March 17, 2023.

The management of Dick’s Sporting Goods is confident about FY23, predicting flat to 2% comparable sales growth. Profits per share are anticipated to range between $12.90 and $13.80, indicating that the company will continue to rise in the following year. Overall, these figures imply a great performance by Dick’s Sporting Goods, and shareholders are likely to embrace the company’s optimistic forecast.

 

DKS Stock Price Analysis:

Based on DKS stock forecast from 18 analysts, the average analyst target price for Dick’s Sporting Goods Inc is USD 136.50 over the next 12 months. Dick’s Sporting Goods Inc’s average analyst rating is Strong Buy.

Stock Target Advisor’s own stock analysis of DKS stock is Bullish, which is based on 5 positive signals and 1 negative signal. At the last closing, DKS stock price was USD 132.14. Dick’s Sporting Goods Inc’s stock price has changed by +1.83% over the past week, -2.00% over the past month, and +20.44% over the last year.

 

Company Profile:

DICK’S Sporting Goods, Inc., together with its subsidiaries, operates as a sporting goods retailer primarily in the eastern United States. The company provides hardlines, including sporting goods equipment, fitness equipment, golf equipment, hunting and fishing gear products; apparel; and footwear and accessories.

It also owns and operates Sporting Goods, Golf Galaxy, Field & Stream, Public Lands, Going Going Gone!, and other specialty concept stores; and DICK’S House of Sports and Golf Galaxy Performance Center, as well as GameChanger, a youth sports mobile application for video streaming, scorekeeping, scheduling, and communications.

The company sells its product through e-commerce websites and mobile applications. The company was formerly known as Dick’S Clothing and Sporting Goods, Inc. and changed its name to DICK’S Sporting Goods, Inc. in April 1999. DICK’S Sporting Goods, Inc. was incorporated in 1948 and is headquartered in Coraopolis, Pennsylvania.

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