$1.70 billion in sales expected for Hanesbrands Inc. (NYSE: HBI) this quarter
Wall Street analysts predict that Hanesbrands Inc. (NYSE: HBI – Get a rating) will post sales of $1.70 billion for the current fiscal quarter, according to Zacks Investment Research. Four analysts have released earnings estimates for Hanesbrands, with the highest sales estimate at $1.71 billion and the lowest estimate at $1.67 billion. Hanesbrands reported sales of $1.75 billion in the same quarter last year, indicating a negative growth rate of 2.9% year-over-year. The company is expected to release its next quarterly earnings report on Monday, January 1.
According to Zacks, analysts expect Hanesbrands to report annual revenue of $7.03 billion for the current fiscal year, with estimates ranging from $7.00 billion to $7.04 billion. For the next fiscal year, analysts expect the company to report sales of $7.29 billion, with estimates ranging from $7.22 billion to $7.35 billion. Zacks sales averages are an average average based on a survey of research companies that track Hanesbrands.
Hanesbrand (NYSE: HBI – Get a rating) last reported results on Thursday, May 5. The textile maker reported EPS of $0.34 for the quarter, beating consensus analyst estimates of $0.28 by $0.06. The company posted revenue of $1.58 billion for the quarter, versus $1.54 billion for analysts. Hanesbrands had a net margin of 6.68% and a return on equity of 93.47%. The company’s revenue increased by 4.5% compared to the same quarter last year. In the same quarter last year, the company achieved EPS of $0.39.
A number of stock analysts have published reports on HBI shares. Zacks Investment Research upgraded Hanesbrands shares from a “sell” to a “hold” rating and set a price target of $16.00 on the stock in a Thursday, March 17 research report. Barclays cut its price target on Hanesbrands shares from $20.00 to $18.00 in a Tuesday May 10 research report. Stifel Nicolaus cut his price target on Hanesbrands shares from $13.00 to $11.00 in a Wednesday, May 18 research report. Wells Fargo & Company lowered its price target on Hanesbrands stock from $20.00 to $18.00 and set an “overweight” rating on the stock in a Tuesday, April 5 research report. Finally, Credit Suisse Group lowered its price target on Hanesbrands from $26.00 to $23.00 and set an “outperform” rating for the company in a Friday, Feb. 4 research note. Five equity research analysts gave the stock a hold rating and four gave the company a buy rating. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $18.00.
HBI Stock opened at $11.63 on Tuesday. The company’s 50-day moving average price is $13.95 and its two-hundred-day moving average price is $15.49. Hanesbrands has a 12-month low of $11.35 and a 12-month high of $20.74. The stock has a market capitalization of $4.06 billion, a price-earnings ratio of 8.88 and a beta of 1.47. The company has a current ratio of 1.60, a quick ratio of 0.72 and a debt ratio of 4.27.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 31. Investors of record on Tuesday, May 10 will receive a dividend of $0.15. This represents an annualized dividend of $0.60 and a dividend yield of 5.16%. The ex-dividend date is Monday, May 9. Hanesbrands’ payout ratio is currently 45.80%.
Hanesbrands announced that its board of directors approved a stock repurchase program on Thursday, February 3 that allows the company to repurchase $600.00 million in stock. This repurchase authorization allows the textile manufacturer to repurchase up to 10.8% of its shares through purchases on the open market. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.
In related news, CEO Stephen B. Bratspies bought 34,292 shares in a trade that took place on Thursday, February 24. The shares were purchased at an average cost of $14.63 per share, for a total transaction of $501,691.96. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, accessible via this link. 0.29% of the shares are currently held by insiders.
Several hedge funds have recently bought and sold shares of HBI. Toroso Investments LLC increased its stake in Hanesbrands shares by 38.4% during the first quarter. Toroso Investments LLC now owns 51,925 shares of the textile maker valued at $773,000 after purchasing an additional 14,394 shares during the period. Keeley Teton Advisors LLC bought a new stake in Hanesbrands stock in the first quarter worth about $280,000. Wall Street Access Asset Management LLC increased its holdings of Hanesbrands shares by 7.1% in the first quarter. Wall Street Access Asset Management LLC now owns 44,352 shares of the textile maker valued at $659,000 after acquiring 2,945 additional shares last quarter. Continuum Advisory LLC purchased a new stake in Hanesbrands stock in the first quarter worth approximately $325,000. Finally, KB Financial Partners LLC increased its stake in Hanesbrands shares by 14.1% in the first quarter. KB Financial Partners LLC now owns 19,534 shares of the textile maker valued at $291,000 after acquiring 2,407 additional shares last quarter. 87.58% of the shares are held by hedge funds and other institutional investors.
Hanesbrands Inc, a consumer goods company, designs, manufactures, sources and sells a line of basic clothing for men, women and children. The Company operates through three segments: Homewear, Activewear and International. It sells men’s underwear, women’s panties, children’s underwear, sportswear and socks, as well as intimate apparel, such as bras and shapewear; household items; and T-shirts, fleeces, performance wear, athletic shirts, performance T-shirts and shorts, sports bras, team wear and thermals, and licensed logo apparel at college bookstores, mass retailers and other channels.
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