Hibbett Sports, Inc. (HIBB) Expected to Post Quarterly Sales of $190.91 Million
Analysts forecast that Hibbett Sports, Inc. (NASDAQ:HIBB) will post sales of $190.91 million for the current quarter, Zacks reports. Six analysts have issued estimates for Hibbett Sports’ earnings. The highest sales estimate is $194.73 million and the lowest is $189.20 million. Hibbett Sports posted sales of $206.93 million during the same quarter last year, which suggests a negative year-over-year growth rate of 7.7%. The business is expected to report its next quarterly earnings report before the market opens on Friday, August 18th.
According to Zacks, analysts expect that Hibbett Sports will report full-year sales of $190.91 million for the current financial year, with estimates ranging from $924.30 million to $977.50 million. For the next financial year, analysts anticipate that the business will post sales of $963.73 million per share, with estimates ranging from $934.80 million to $985.09 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover Hibbett Sports.
Hibbett Sports (NASDAQ:HIBB) last announced its earnings results on Thursday, May 18th. The company reported $0.97 EPS for the quarter, topping the Zacks’ consensus estimate of $0.96 by $0.01. The firm had revenue of $275.70 million during the quarter, compared to analysts’ expectations of $275.49 million. Hibbett Sports had a return on equity of 16.39% and a net margin of 5.59%. The company’s quarterly revenue was down 2.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.22 EPS.
A number of brokerages have commented on HIBB. Canaccord Genuity set a $25.00 target price on Hibbett Sports and gave the company a “hold” rating in a report on Friday, May 19th. B. Riley restated a “neutral” rating and issued a $29.00 price target on shares of Hibbett Sports in a research report on Wednesday, May 17th. Zacks Investment Research upgraded Hibbett Sports from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 18th. Forward View upgraded Hibbett Sports from a “sell” rating to a “hold” rating in a research report on Monday, May 22nd. Finally, Stifel Nicolaus restated a “hold” rating and issued a $25.00 price target (down from $27.00) on shares of Hibbett Sports in a research report on Friday, May 19th. Four investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $26.61.
Hibbett Sports (NASDAQ:HIBB) opened at 14.70 on Tuesday. The stock has a 50 day moving average price of $19.56 and a 200-day moving average price of $26.02. The stock has a market cap of $305.26 million, a PE ratio of 6.02 and a beta of 0.71. Hibbett Sports has a one year low of $12.90 and a one year high of $45.85.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Guggenheim Capital LLC acquired a new position in shares of Hibbett Sports during the fourth quarter valued at $388,000. Norges Bank acquired a new position in shares of Hibbett Sports during the fourth quarter valued at $7,390,000. Teachers Advisors LLC raised its position in shares of Hibbett Sports by 6.0% in the fourth quarter. Teachers Advisors LLC now owns 38,028 shares of the company’s stock valued at $1,418,000 after buying an additional 2,153 shares during the last quarter. Fox Run Management L.L.C. acquired a new position in shares of Hibbett Sports during the first quarter valued at $260,000. Finally, Legato Capital Management LLC raised its position in shares of Hibbett Sports by 2,850.0% in the first quarter. Legato Capital Management LLC now owns 58,882 shares of the company’s stock valued at $1,996,000 after buying an additional 56,886 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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