Zacks: Brokerages Anticipate Hanesbrands Inc. (HBI) Will Announce Earnings of $0.60 Per Share
Equities research analysts expect Hanesbrands Inc. (NYSE:HBI) to report earnings of $0.60 per share for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Hanesbrands’ earnings, with estimates ranging from $0.59 to $0.62. Hanesbrands posted earnings of $0.56 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 7.1%. The firm is expected to issue its next quarterly earnings report on Thursday, October 26th.
On average, analysts expect that Hanesbrands will report full year earnings of $1.98 per share for the current fiscal year, with EPS estimates ranging from $1.96 to $1.99. For the next financial year, analysts anticipate that the company will post earnings of $2.14 per share, with EPS estimates ranging from $2.08 to $2.22. Zacks’ EPS averages are a mean average based on a survey of sell-side research analysts that follow Hanesbrands.
Hanesbrands (NYSE:HBI) last issued its earnings results on Tuesday, August 1st. The textile maker reported $0.53 earnings per share for the quarter, hitting the consensus estimate of $0.53. The company had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.65 billion. Hanesbrands had a net margin of 9.02% and a return on equity of 64.80%. Hanesbrands’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.51 EPS.
HBI has been the topic of several analyst reports. Credit Suisse Group set a $28.00 price target on shares of Hanesbrands and gave the company a “buy” rating in a research report on Thursday, July 27th. BidaskClub upgraded shares of Hanesbrands from a “sell” rating to a “hold” rating in a research report on Wednesday, August 9th. UBS AG restated a “buy” rating and set a $27.00 price target (up previously from $25.00) on shares of Hanesbrands in a research report on Tuesday, August 8th. Vetr upgraded shares of Hanesbrands from a “buy” rating to a “strong-buy” rating and set a $26.36 price target on the stock in a research report on Monday, August 21st. Finally, ValuEngine lowered shares of Hanesbrands from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. One analyst has rated the stock with a sell rating, six have given a hold rating and nine have given a buy rating to the company. Hanesbrands has a consensus rating of “Buy” and an average price target of $27.18.
Shares of Hanesbrands (NYSE:HBI) remained flat at $25.13 on Friday. The company’s stock had a trading volume of 3,255,105 shares. The company has a market cap of $9.16 billion, a PE ratio of 16.47 and a beta of 0.71. Hanesbrands has a 12 month low of $18.91 and a 12 month high of $27.07. The company’s 50-day moving average is $23.99 and its 200-day moving average is $22.07.
The business also recently announced a quarterly dividend, which was paid on Wednesday, September 6th. Stockholders of record on Tuesday, August 15th were given a $0.15 dividend. The ex-dividend date of this dividend was Friday, August 11th. This represents a $0.60 annualized dividend and a dividend yield of 2.39%. Hanesbrands’s dividend payout ratio (DPR) is 39.47%.
In related news, insider John T. Marsh sold 11,100 shares of the business’s stock in a transaction dated Tuesday, June 13th. The shares were sold at an average price of $22.57, for a total transaction of $250,527.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Gerald Evans sold 43,379 shares of the business’s stock in a transaction dated Wednesday, July 5th. The stock was sold at an average price of $23.18, for a total transaction of $1,005,525.22. Following the transaction, the chief executive officer now owns 1,056,314 shares in the company, valued at $24,485,358.52. The disclosure for this sale can be found here. In the last quarter, insiders sold 140,654 shares of company stock worth $3,267,205. Company insiders own 1.10% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Alps Advisors Inc. boosted its position in Hanesbrands by 0.3% during the second quarter. Alps Advisors Inc. now owns 23,635 shares of the textile maker’s stock worth $547,000 after acquiring an additional 61 shares during the last quarter. CIBC Asset Management Inc boosted its position in Hanesbrands by 0.3% during the second quarter. CIBC Asset Management Inc now owns 36,700 shares of the textile maker’s stock worth $850,000 after acquiring an additional 106 shares during the last quarter. Sentry Investment Management LLC boosted its position in Hanesbrands by 0.4% during the second quarter. Sentry Investment Management LLC now owns 24,878 shares of the textile maker’s stock worth $576,000 after acquiring an additional 109 shares during the last quarter. ARGI Investment Services LLC boosted its position in Hanesbrands by 1.2% during the second quarter. ARGI Investment Services LLC now owns 10,696 shares of the textile maker’s stock worth $248,000 after acquiring an additional 127 shares during the last quarter. Finally, Advantus Capital Management Inc boosted its position in Hanesbrands by 0.3% during the first quarter. Advantus Capital Management Inc now owns 37,884 shares of the textile maker’s stock worth $786,000 after acquiring an additional 131 shares during the last quarter. Hedge funds and other institutional investors own 94.35% of the company’s stock.
Hanesbrands Inc is a marketer of basic innerwear and activewear apparel in the Americas, Europe, Australia and Asia/Pacific under apparel brands, such as Hanes, Champion, Maidenform, DIM, Bali, Playtex, Bonds, JMS/Just My Size, Nur Die/Nur Der, L’eggs, Lovable, Wonderbra, Flexees, Gear for Sports and Berlei.
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