Forward View Weighs in on Hibbett Sports, Inc.’s FY2018 Earnings (HIBB)
Hibbett Sports, Inc. (NASDAQ:HIBB) – Investment analysts at Forward View raised their FY2018 earnings per share (EPS) estimates for shares of Hibbett Sports in a research note issued on Monday. Forward View analyst N. Yates now forecasts that the company will earn $2.38 per share for the year, up from their prior forecast of $2.36. Forward View has a “Hold” rating on the stock. Forward View also issued estimates for Hibbett Sports’ Q4 2018 earnings at $0.60 EPS.
Hibbett Sports (NASDAQ:HIBB) last announced its quarterly earnings results on Thursday, May 18th. The company reported $0.97 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.96 by $0.01. Hibbett Sports had a return on equity of 20.53% and a net margin of 6.84%. The business had revenue of $275.70 million during the quarter, compared to the consensus estimate of $275.49 million. During the same quarter in the prior year, the company posted $1.22 earnings per share. Hibbett Sports’s revenue was down 2.3% compared to the same quarter last year. ILLEGAL ACTIVITY NOTICE: “Forward View Weighs in on Hibbett Sports, Inc.’s FY2018 Earnings (HIBB)” was first posted by American Banking News and is the sole property of of American Banking News. If you are reading this story on another site, it was illegally stolen and reposted in violation of U.S. & international trademark and copyright laws. The legal version of this story can be read at https://www.americanbankingnews.com/2017/05/24/forward-view-weighs-in-on-hibbett-sports-inc-s-fy2018-earnings-hibb.html.
A number of other research analysts have also recently issued reports on HIBB. B. Riley reiterated a “neutral” rating and set a $29.00 price objective on shares of Hibbett Sports in a research note on Tuesday, May 2nd. MKM Partners reiterated a “neutral” rating and set a $24.00 price objective (down previously from $27.00) on shares of Hibbett Sports in a research note on Monday. Canaccord Genuity set a $32.00 price objective on Hibbett Sports and gave the company a “hold” rating in a research note on Sunday, March 12th. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $25.00 price objective (down previously from $27.00) on shares of Hibbett Sports in a research note on Friday, May 19th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $33.40.
Shares of Hibbett Sports (NASDAQ:HIBB) traded down 0.63% during midday trading on Wednesday, reaching $23.65. The company had a trading volume of 141,847 shares. Hibbett Sports has a one year low of $22.80 and a one year high of $45.85. The company has a market capitalization of $504.10 million, a P/E ratio of 9.69 and a beta of 0.84. The company has a 50-day moving average price of $26.32 and a 200 day moving average price of $32.70.
In related news, SVP Jared S. Briskin sold 3,040 shares of Hibbett Sports stock in a transaction on Wednesday, March 22nd. The stock was sold at an average price of $28.47, for a total value of $86,548.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.50% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Thrivent Financial for Lutherans raised its stake in shares of Hibbett Sports by 6.9% in the fourth quarter. Thrivent Financial for Lutherans now owns 12,130 shares of the company’s stock valued at $452,000 after buying an additional 780 shares during the last quarter. Comerica Bank raised its stake in shares of Hibbett Sports by 4.9% in the fourth quarter. Comerica Bank now owns 24,096 shares of the company’s stock valued at $819,000 after buying an additional 1,122 shares during the last quarter. Nordea Investment Management AB purchased a new stake in shares of Hibbett Sports during the third quarter valued at approximately $13,132,000. Municipal Employees Retirement System of Michigan raised its stake in shares of Hibbett Sports by 0.9% in the third quarter. Municipal Employees Retirement System of Michigan now owns 6,700 shares of the company’s stock valued at $267,000 after buying an additional 60 shares during the last quarter. Finally, UBS Asset Management Americas Inc. raised its stake in shares of Hibbett Sports by 17.7% in the third quarter. UBS Asset Management Americas Inc. now owns 11,299 shares of the company’s stock valued at $451,000 after buying an additional 1,700 shares during the last quarter.
About Hibbett Sports
Hibbett Sports, Inc operates athletic specialty stores in small and mid-sized markets in the South, Southwest, Mid-Atlantic and the Midwest regions of the United States. As of January 28, 2017, the Company had operated 1,078 stores consisting of 1,059 Hibbett Sports stores and 19 smaller-format Sports Additions athletic shoe stores in 35 states.
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