Susquehanna Bancshares Lowers Target Price On Dick's Sporting Goods Inc (DKS)

Mae Love
November 14, 2017

The firm owned 70,711 shares of the sporting goods retailer's stock after selling 9,191 shares during the period.

Other institutional investors have also recently bought and sold shares of the company. During fiscal 2017, the company repurchased approximately 6.8 million shares of its common stock at an average cost of $35.70 per share, for a total cost of $242 million, and has approximately $0.8 billion remaining under its authorization that extends through 2021. It last reported revenues of $2.16 billion and EPS of $0.96 for the July 2017, representing 10% top-line growth and 0.82 EPS growth. Capstone Asset Management Co. now owns 11,462 shares of the sporting goods retailer's stock worth $457,000 after purchasing an additional 300 shares during the period. Nordea Investment Management AB raised its stake in Dick's Sporting Goods by 0.5% during the second quarter. Manning & Napier Advisors LLC boosted its stake in Dick's Sporting Goods by 1,173.1% in the 2nd quarter. Wellington Management Group Llp claims 119,628 shares worth $3,231,000. Following the completion of the purchase, the director now directly owns 323,224 shares of the company's stock, valued at $8,484,630. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

The outlook for next year from Dick's Sporting Goods overshadowed a strong quarter and pushed shares down sharply in early trading Tuesday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.24 and a current ratio of 1.51. With short interest at 12,533,861 and short average daily volume at 2,613,136, days to cover is 5.0 and the percentage of shorted shares is 0.15% as of October 31. The firm has a market cap of $2,936.45, a PE ratio of 8.14, a PEG ratio of 1.18 and a beta of 0.48. These openings include former TSA and Golfsmith stores that the company converted to Dick's Sporting Goods and Golf Galaxy stores, respectively.

Based on an estimated 107 to 108 million diluted shares outstanding, the company now anticipates reporting earnings per diluted share in the range of $2.95 to 3.07, which includes approximately $0.05 per diluted share for the 53rd week. Dick's Sporting Goods had a return on equity of 19.09% and a net margin of 3.74%.

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The sporting retailer reported $1.94 billion in revenue, increasing 7.4 percent year over year, and beating analysts' estimates by $60 million. During the same period in the previous year, the business earned $0.48 EPS.

Looking ahead, DKS forecast Q4 EPS of $1.12 to $1.24, which would beat the $1.11 per share that analysts are looking for. The dividend is payable in cash on December 29, 2017 to stockholders of record at the close of business on December 8, 2017. Dick's Sporting Goods's dividend payout ratio (DPR) is now 24.29%.

Several other brokerages have also recently issued reports on DKS. Zacks Investment Research upgraded shares of Dick's Sporting Goods from a "sell" rating to a "hold" rating in a research report on Tuesday, July 18th. On November 1 the company was downgraded from "Peer Perform" to "Underperform" and a price target of $20.00 was set by analysts at Wolfe Research. Dick's Sporting Goods has a fifty-two week low of $23.88 and a fifty-two week high of $62.88. Finally, Buckingham Research assumed coverage on shares of Dick's Sporting Goods in a research report on Monday, July 17th.

November 3 investment analysts at Cowen and Company made no change to the company rating of "Hold" with a current price target of $28.00.

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