Several other brokerages have also weighed in on DKS. On November 2 BMO Capital Markets kept the stock rating at "Buy" with a current price target of $37.00. Wells Fargo & Company set a $29.00 price objective on Dick's Sporting Goods and gave the stock a hold rating in a report on Wednesday, October 11th. 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. Finally, Guggenheim reissued a "neutral" rating on shares of Dick's Sporting Goods in a research report on Wednesday, August 16th. The stock now has an average rating of Hold and an average price target of $36.12. The days to cover decreased to 5.0 and the short interest percentage is 0.15% as of October 31. (NYSE:DKS) touched its 1-Year High price of $62.88 on 12/08/16 and its 1-Year Low price of $23.88 on 11/01/17. As of October 28, 2017, the company operated 719 Dick's Sporting Goods stores in 47 states, with approximately 38.2 million square feet, 98 Golf Galaxy stores in 32 states, with approximately 2.1 million square feet, and 35 Field & Stream stores in 16 states, with approximately 1.6 million square feet.
Based on an estimated 105 million diluted shares outstanding, the company now anticipates reporting earnings per diluted share in the range of $1.05 to 1.17, which includes approximately $0.05 per diluted share for the 53rd week. A short-lived rally off this bottom was quickly rejected by Dick's Sporting Goods' 50-day moving average, which helped support the shares before a mid-May earnings-induced bear gap. The sporting goods retailer reported $0.96 earnings per share (EPS) for the quarter, missing the Thomson Reuters' consensus estimate of $1.00 by ($0.04). Dick's Sporting Goods had a return on equity of 19.09% and a net margin of 3.74%. And while the shares haven't traded south of $23 since February 2010, they hit a seven-year low of $23.88 on November 1. The company's revenue for the quarter was up 9.6% on a year-over-year basis. analysts forecast that Dick's Sporting Goods will post 2.88 EPS for the current year.
ILLEGAL ACTIVITY NOTICE: This article was published by BBNS and is the property of of BBNS. If you are accessing this report on another website, it was copied illegally and reposted in violation of USA and global copyright & trademark legislation. The original version of this story can be accessed at https://stocknewstimes.com/2017/11/14/oppenheimer-holdings-weighs-in-on-dicks-sporting-goods-incs-q3-2018-earnings-dks.html. We plan to make significant investments in our business, which will have a short-term negative impact on our earnings; however, we expect these investments will pay meaningful dividends in the future. This represents a $0.68 annualized dividend and a dividend yield of 2.58%. Dick's Sporting Goods's dividend payout ratio (DPR) is presently 24.29%.
In related news, Director William J. Colombo acquired 20,000 shares of the stock in a transaction on Tuesday, August 22nd. The total value of its holdings decreased 11.4%. Following the transaction, the director now owns 323,224 shares in the company, valued at $8,484,630. Investment Counselors of Maryland LLC raised its stake in Dick's Sporting Goods by 1.1% during the second quarter. Trading volume for Dick's Sporting Goods Inc. was 5.38 Million in its previous trading session. Nordea Investment Management AB now owns 5,106 shares of the sporting goods retailer's stock worth $203,000 after acquiring an additional 26 shares in the last quarter. Finally, Capstone Asset Management Co. grew its position in Dick's Sporting Goods by 2.7% in the second quarter. Dimensional Fund Advisors Lp now owns 1,717,065 shares worth $46,379,000. Bank of New York Mellon Corp now owns 1,828,157 shares of the sporting goods retailer's stock valued at $72,815,000 after purchasing an additional 176,439 shares during the last quarter. Its stake was worth $46,379,000 an increase of $3,329,000 according to the filing.
The company now anticipates reporting non-GAAP earnings per diluted share in the range of $1.12 to 1.24.