$208.6 Million in Sales Expected for Hibbett Sports, Inc. (HIBB) This Quarter
Equities analysts expect Hibbett Sports, Inc. (NASDAQ:HIBB) to post sales of $208.6 million for the current quarter, according to Zacks. Eight analysts have issued estimates for Hibbett Sports’ earnings, with the lowest sales estimate coming in at $205.8 million and the highest estimate coming in at $213.35 million. Hibbett Sports reported sales of $206.93 million during the same quarter last year, which indicates a positive year-over-year growth rate of 0.8%. The company is expected to issue its next quarterly earnings results on Friday, August 18th.
According to Zacks, analysts expect that Hibbett Sports will report full-year sales of $208.6 million for the current year, with estimates ranging from $981.5 million to $1.01 billion. For the next fiscal year, analysts forecast that the firm will post sales of $1.02 billion per share, with estimates ranging from $1.01 billion to $1.05 billion. Zacks’ sales calculations are an average based on a survey of research firms that cover Hibbett Sports.
Hibbett Sports (NASDAQ:HIBB) last released its earnings results on Thursday, May 18th. The company reported $0.97 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.96 by $0.01. The firm had revenue of $275.70 million for the quarter, compared to analysts’ expectations of $275.49 million. Hibbett Sports had a net margin of 6.84% and a return on equity of 20.53%. Hibbett Sports’s quarterly revenue was down 2.3% on a year-over-year basis. During the same quarter last year, the company earned $1.22 EPS.
HIBB has been the subject of several recent research reports. B. Riley reissued a “neutral” rating and set a $34.00 price objective on shares of Hibbett Sports in a report on Tuesday, February 14th. Canaccord Genuity set a $32.00 price objective on Hibbett Sports and gave the stock a “hold” rating in a report on Sunday, March 12th. Zacks Investment Research raised Hibbett Sports from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 18th. Finally, Forward View raised Hibbett Sports from a “sell” rating to a “hold” rating in a report on Monday, May 22nd. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $33.40.
In other news, SVP Jared S. Briskin sold 3,040 shares of the company’s stock in a transaction dated 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.50% of the company’s stock.
Several hedge funds have recently made changes to their positions in HIBB. JPMorgan Chase & Co. raised its position in shares of Hibbett Sports by 7.5% in the first quarter. JPMorgan Chase & Co. now owns 4,190 shares of the company’s stock valued at $123,000 after buying an additional 291 shares in the last quarter. Mason Street Advisors LLC raised its position in shares of Hibbett Sports by 5.0% in the first quarter. Mason Street Advisors LLC now owns 5,135 shares of the company’s stock valued at $151,000 after buying an additional 245 shares in the last quarter. Schroder Investment Management Group raised its position in shares of Hibbett Sports by 215.0% in the first quarter. Schroder Investment Management Group now owns 6,300 shares of the company’s stock valued at $188,000 after buying an additional 4,300 shares in the last quarter. UBS Group AG raised its position in shares of Hibbett Sports by 135.8% in the first quarter. UBS Group AG now owns 6,379 shares of the company’s stock valued at $188,000 after buying an additional 3,674 shares in the last quarter. Finally, Tudor Investment Corp Et Al acquired a new position in shares of Hibbett Sports during the fourth quarter valued at about $216,000.
Hibbett Sports (NASDAQ:HIBB) opened at 23.80 on Friday. The firm has a market cap of $507.30 million, a PE ratio of 9.75 and a beta of 0.84. The stock has a 50 day moving average of $25.93 and a 200 day moving average of $32.46. Hibbett Sports has a 52 week low of $22.80 and a 52 week high of $45.85.
Hibbett Sports Company Profile
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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