We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Here's Why You Should Invest in DICK'S Sporting (DKS) Stock
Read MoreHide Full Article
DICK'S Sporting Goods, Inc. (DKS - Free Report) is well-poised to tap the positive trends in the sporting industry, thanks to its robust strategies including merchandising initiatives and store-related efforts. The company is gaining from brand strength and demand for its products that resonate well with customers. Undoubtedly, management is focused on creating a trend-right merchandise assortment, deepening relations with customers via marketing and efficiently controlling expenses.
Buoyed by such strengths, shares of this sporting goods dealer have increased 61% compared with the industry’s 21.4% growth in the six-month time frame. A Value Score of A further adds strength to this current Zacks Rank #2 (Buy) company.
Let’s Delve Deeper
On the storefront, DICK’S Sporting’s earlier launched DICK'S House of Sport, Golf Galaxy Performance Center, Public Lands and Going, Going, Gone! have been performing well. Earlier, it opened two types of concept stores namely OVERTIME by DICK’S Sporting Goods and DICK’S Sporting Goods Warehouse.
The company opened seven Golf Galaxy Performance Centers, thereby expanding its Golf Galaxy chain to 104 locations, including 13 performance centers. The total store count was 725, including 104 Golf Galaxy stores, seven Public Lands stores and 17 Going, Going, Gone! Stores.
Image Source: Zacks Investment Research
DKS plans to open other 10 House of Sport locations throughout 2024. By 2027, it expects 75 to 100 House of Sport stores nationwide. The company is anticipated to open seven Golf Galaxy performance centers this year. Dick’s Sporting also expects to grow its golf Galaxy footprint with 10 new locations.
DICK’S Sporting’s fiscal fourth-quarter fiscal 2023 results benefited from the solid growth efforts and continued market share gains. This led to a robust top-line performance. Net sales improved 7.8% year over year. Also, strong comparable store sales (comps) and healthy transaction growth acted as tailwinds. Consolidated comps grew 2.8% year over year, driven by higher transactions and average tickets. For fiscal 2024, the company expects comps growth in the range of 1-2%.
The company boasts a robust history of returning value to shareholders. It repurchased 5.4 million shares of its common stock for $648.6 million under its share repurchase program in fiscal 2023. As of Feb 3, 2024, it had $780 million remaining under its authorization. During the 53-week period that ended Feb 3, the company paid dividends of $351 million. Management hiked the annualized dividend to $4.40 per share, indicating an increase of 10% from the prior dividend. On Mar 13, the company’s board authorized and declared a quarterly dividend of $1.10 per share on the company's common stock and Class B common stock.
Analysts seem quite optimistic about the company. The Zacks Consensus Estimate for fiscal 2024 sales and earnings per share (EPS) is currently pegged at $13.2 billion and $13.27, respectively. These estimates show corresponding growth of 1.3% and 2.8% year over year. The consensus mark for next fiscal year’s sales and EPS is $13.7 billion and $14.33, respectively, reflecting a year-over-year increase of 4.1% and 8%.
Given all the positives, DICK’S Sporting stock seems to deserve a place in your investment portfolio.
Other Key Picks
We have highlighted other better-ranked stocks, namely Gap , American Eagle (AEO - Free Report) and Deckers (DECK - Free Report) .
Gap, a leading apparel retailer, currently sports a Zacks Rank #1 (Strong Buy). GPS delivered an earnings surprise of 180.9% in the trailing four quarters. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Gap’s financial-year sales suggests growth of 1.7% from the year-ago reported figure.
American Eagle, a leading casual apparel retailer, currently carries a Zacks Rank #2. AEO delivered an earnings surprise of 22% in the last reported quarter.
The consensus estimate for American Eagle’s current financial-year sales suggests growth of 3.4% from the year-ago reported figure.
Deckers, a footwear and accessories dealer, currently carries a Zacks Rank of 2. DECK delivered an earnings surprise of 32.1% in the trailing four quarters.
The Zacks Consensus Estimate for Deckers’ current financial-year sales suggests growth of 15.8% from the year-ago reported figure.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Here's Why You Should Invest in DICK'S Sporting (DKS) Stock
DICK'S Sporting Goods, Inc. (DKS - Free Report) is well-poised to tap the positive trends in the sporting industry, thanks to its robust strategies including merchandising initiatives and store-related efforts. The company is gaining from brand strength and demand for its products that resonate well with customers. Undoubtedly, management is focused on creating a trend-right merchandise assortment, deepening relations with customers via marketing and efficiently controlling expenses.
Buoyed by such strengths, shares of this sporting goods dealer have increased 61% compared with the industry’s 21.4% growth in the six-month time frame. A Value Score of A further adds strength to this current Zacks Rank #2 (Buy) company.
Let’s Delve Deeper
On the storefront, DICK’S Sporting’s earlier launched DICK'S House of Sport, Golf Galaxy Performance Center, Public Lands and Going, Going, Gone! have been performing well. Earlier, it opened two types of concept stores namely OVERTIME by DICK’S Sporting Goods and DICK’S Sporting Goods Warehouse.
The company opened seven Golf Galaxy Performance Centers, thereby expanding its Golf Galaxy chain to 104 locations, including 13 performance centers. The total store count was 725, including 104 Golf Galaxy stores, seven Public Lands stores and 17 Going, Going, Gone! Stores.
Image Source: Zacks Investment Research
DKS plans to open other 10 House of Sport locations throughout 2024. By 2027, it expects 75 to 100 House of Sport stores nationwide. The company is anticipated to open seven Golf Galaxy performance centers this year. Dick’s Sporting also expects to grow its golf Galaxy footprint with 10 new locations.
DICK’S Sporting’s fiscal fourth-quarter fiscal 2023 results benefited from the solid growth efforts and continued market share gains. This led to a robust top-line performance. Net sales improved 7.8% year over year. Also, strong comparable store sales (comps) and healthy transaction growth acted as tailwinds. Consolidated comps grew 2.8% year over year, driven by higher transactions and average tickets. For fiscal 2024, the company expects comps growth in the range of 1-2%.
The company boasts a robust history of returning value to shareholders. It repurchased 5.4 million shares of its common stock for $648.6 million under its share repurchase program in fiscal 2023. As of Feb 3, 2024, it had $780 million remaining under its authorization. During the 53-week period that ended Feb 3, the company paid dividends of $351 million. Management hiked the annualized dividend to $4.40 per share, indicating an increase of 10% from the prior dividend. On Mar 13, the company’s board authorized and declared a quarterly dividend of $1.10 per share on the company's common stock and Class B common stock.
Analysts seem quite optimistic about the company. The Zacks Consensus Estimate for fiscal 2024 sales and earnings per share (EPS) is currently pegged at $13.2 billion and $13.27, respectively. These estimates show corresponding growth of 1.3% and 2.8% year over year. The consensus mark for next fiscal year’s sales and EPS is $13.7 billion and $14.33, respectively, reflecting a year-over-year increase of 4.1% and 8%.
Given all the positives, DICK’S Sporting stock seems to deserve a place in your investment portfolio.
Other Key Picks
We have highlighted other better-ranked stocks, namely Gap , American Eagle (AEO - Free Report) and Deckers (DECK - Free Report) .
Gap, a leading apparel retailer, currently sports a Zacks Rank #1 (Strong Buy). GPS delivered an earnings surprise of 180.9% in the trailing four quarters. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Gap’s financial-year sales suggests growth of 1.7% from the year-ago reported figure.
American Eagle, a leading casual apparel retailer, currently carries a Zacks Rank #2. AEO delivered an earnings surprise of 22% in the last reported quarter.
The consensus estimate for American Eagle’s current financial-year sales suggests growth of 3.4% from the year-ago reported figure.
Deckers, a footwear and accessories dealer, currently carries a Zacks Rank of 2. DECK delivered an earnings surprise of 32.1% in the trailing four quarters.
The Zacks Consensus Estimate for Deckers’ current financial-year sales suggests growth of 15.8% from the year-ago reported figure.