$208.53 Million in Sales Expected for Hibbett Sports, Inc. (HIBB) This Quarter
Brokerages expect Hibbett Sports, Inc. (NASDAQ:HIBB) to post sales of $208.53 million for the current quarter, according to Zacks. Six analysts have issued estimates for Hibbett Sports’ earnings. The lowest sales estimate is $205.80 million and the highest is $213.35 million. Hibbett Sports posted sales of $206.93 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 0.8%. The company is scheduled to issue its next earnings report on Friday, August 18th.
According to Zacks, analysts expect that Hibbett Sports will report full-year sales of $208.53 million for the current financial year, with estimates ranging from $981.50 million to $1.01 billion. For the next fiscal year, analysts expect that the firm will post sales of $1.02 billion per share, with estimates ranging from $1.01 billion to $1.05 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that cover Hibbett Sports.
Hibbett Sports (NASDAQ:HIBB) last announced its earnings results on Thursday, May 18th. The company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.01. The business had revenue of $275.70 million for the quarter, compared to the consensus estimate of $275.49 million. Hibbett Sports had a net margin of 5.59% and a return on equity of 16.39%. Hibbett Sports’s quarterly revenue was down 2.3% on a year-over-year basis. During the same period last year, the firm posted $1.22 earnings per share.
Several research analysts have weighed in on the company. B. Riley restated a “neutral” rating and issued a $29.00 price target on shares of Hibbett Sports in a research note on Wednesday, April 26th. Zacks Investment Research upgraded Hibbett Sports from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 18th. Canaccord Genuity set a $25.00 price target on Hibbett Sports and gave the stock a “hold” rating in a research note on Friday, May 19th. Forward View upgraded Hibbett Sports from a “sell” rating to a “hold” rating in a research note on Monday, May 22nd. Finally, BidaskClub upgraded Hibbett Sports from a “strong sell” rating to a “sell” rating in a research note on Wednesday. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Hibbett Sports currently has an average rating of “Hold” and an average price target of $32.50.
Shares of Hibbett Sports (HIBB) traded up 2.01% during midday trading on Wednesday, reaching $20.35. 286,578 shares of the company were exchanged. The stock has a market capitalization of $422.59 million, a P/E ratio of 8.34 and a beta of 0.76. The company has a 50 day moving average price of $21.43 and a 200-day moving average price of $27.33. Hibbett Sports has a 12-month low of $19.02 and a 12-month high of $45.85.
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A number of hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. raised its stake in 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 during the last quarter. Mason Street Advisors LLC raised its stake in 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 during the last quarter. Tudor Investment Corp Et Al bought a new stake in Hibbett Sports during the fourth quarter valued at $216,000. Schroder Investment Management Group raised its stake in 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 during the last quarter. Finally, UBS Group AG raised its stake in 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 during the last quarter.
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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