JPMorgan Cuts Estimates on Dick's Sporting Goods (DKS)

JPMorgan Cuts Estimates on Dick’s Sporting Goods (DKS)

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On Friday, JP Morgan cut estimates for Dick’s Sporting Goods (DKS) ahead of the company’s earnings report on August 20th.

JP Morgan has cut its estimates as the ratings firm foresees same store sales coming in lower than what Dick’s has forecasted. JP Morgan cut Dick’s estimates and gave the sporting goods company a price target of $60 and an “Overweight” rating. Despite the estimate cut, JP Morgan’s price target still suggests a nearly 17% increase from the stock’s current price of $51.41.

Dick’s Sporting Goods’ shares were inactive in pre-market trading. The company’s stock is up more than 12% YTD.

The Bottom Line
Shares of Dick’s Sporting Goods (DKS) have a yield of 0.97% based on Thursday’s closing price of $51.41 and the company’s annualized dividend payout of 50 cents.

Dick’s Sporting Goods (DKS) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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