Dicks Sporting Goods Inc Takes a Hit Despite Earnings Beat

Dick's shares fall on weak 2018 outlook

Dick's Sporting Goods Inc (DKS) Position Reduced by Oregon Public Employees Retirement Fund

Northwestern Mutual Investment Management Company LLC now owns 15,395 shares of the sporting goods retailer's stock worth $694,000 after purchasing an additional 241 shares during the period.

Dicks Sporting Goods Inc also updated its outlook for the full year in its most recent earnings report.

The following firms have recently changed their position in DKS. Revenue during the quarter was $32.64 billion, representing 2% growth from $32.04 billion in year-ago quarter. As of quarter end American International Group Inc had disposed of 6,443 shares trimming its stake by 3.6%.

Net income rose almost 17% to $641.44 million, or $1 per share, on higher margins, compared to $550 million, or 83 cents per share, in the year-ago period. Schwab Charles Investment Management Inc. now owns 292,898 shares of the sporting goods retailer's stock worth $14,253,000 after purchasing an additional 18,198 shares during the period. Finally, Capstone Asset Management Co. grew its position in Dick's Sporting Goods by 2.7% in the second quarter. Manning & Napier Advisors LLC added to its stake by buying 45,745 shares an increase of 34.4% as of 09/30/2017. After releasing earnings, the stock was up 2%, then fell 3% and is now trading up 0.75%.

DKS stock was down 5% as of noon Tuesday and is down 53% year-to-date.

During the third quarter of 2017, the company repurchased approximately 2.9 million shares of its common stock at an average cost of $26.57 per share, for a total cost of $76 million. Following the transaction, the director now owns 323,224 shares in the company, valued at $8,484,630. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Oppenheimer & Co Inc downsized its holdings by selling 40,228 shares a decrease of 20.5%. The company has a current ratio of 1.51, a quick ratio of 0.24 and a debt-to-equity ratio of 0.10. The stock has declined 56 percent in the last 12 months.

Dick's Sporting Goods (NYSE:DKS) last issued its earnings results on Tuesday, August 15th. Earnings, adjusted for pretax gains, were 30 cents per share, which topped Wall Street expectations by four cents, according to a survey by Zacks Investment Research. The business had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.90 billion. During the same quarter in the previous year, the company posted $0.48 EPS.

During the third quarter of the year, Dicks Sporting Goods Inc reported earnings per share of 30 cents.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Dick's Sporting Goods's dividend payout ratio (DPR) is presently 24.29%.

A number of equities research analysts have issued reports on the stock. Dick's Sporting Goods has a consensus rating of "Hold" and a consensus target price of $36.12. Finally, Creative Planning lifted its stake in Dick's Sporting Goods by 72.2% in the second quarter. Dick's Sporting Goods has a fifty-two week low of $23.88 and a fifty-two week high of $62.88. Buckingham Research assumed coverage on shares of Dick's Sporting Goods in a report on Monday, July 17th. Dick's Sporting Goods now has an average rating of "Hold" and a consensus target price of $36.12.

November 3 investment analysts at Cowen and Company maintained a company rating of "Hold" with a current price target of $28.00. Oppenheimer Holdings now has a "Hold" rating on the stock. If you are viewing this story on another website, it was illegally copied and reposted in violation of United States & global trademark & copyright legislation.

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