Analysts Expect Hibbett Sports, Inc. (HIBB) Will Announce Quarterly Sales of $217.06 Million
Equities analysts expect that Hibbett Sports, Inc. (NASDAQ:HIBB) will post $217.06 million in sales for the current quarter, Zacks reports. Six analysts have made estimates for Hibbett Sports’ earnings. The highest sales estimate is $220.50 million and the lowest is $214.30 million. Hibbett Sports reported sales of $237.01 million during the same quarter last year, which indicates a negative year-over-year growth rate of 8.4%. The firm is expected to issue its next earnings report on Friday, November 17th.
According to Zacks, analysts expect that Hibbett Sports will report full year sales of $217.06 million for the current year, with estimates ranging from $916.30 million to $934.10 million. For the next fiscal year, analysts expect that the company will post sales of $913.97 million per share, with estimates ranging from $903.00 million to $926.90 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Hibbett Sports.
Hibbett Sports (NASDAQ:HIBB) last announced its earnings results on Friday, August 18th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.20) by $0.05. The company had revenue of $188.00 million during the quarter, compared to analysts’ expectations of $190.31 million. Hibbett Sports had a net margin of 4.68% and a return on equity of 13.38%. Hibbett Sports’s quarterly revenue was down 9.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.29 earnings per share.
A number of research analysts have weighed in on HIBB shares. TheStreet lowered Hibbett Sports from a “c-” rating to a “d+” rating in a report on Wednesday, September 6th. Forward View lowered Hibbett Sports to a “sell” rating and set a $10.00 target price for the company. in a report on Monday, August 28th. ValuEngine lowered Hibbett Sports from a “buy” rating to a “hold” rating in a report on Wednesday, August 23rd. Susquehanna Bancshares Inc reaffirmed a “neutral” rating and set a $11.00 target price (down previously from $15.00) on shares of Hibbett Sports in a report on Monday, August 21st. Finally, Canaccord Genuity set a $11.00 target price on Hibbett Sports and gave the company a “hold” rating in a report on Monday, August 21st. Five investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $21.89.
In other news, CEO Jeffry O. Rosenthal purchased 2,500 shares of Hibbett Sports stock in a transaction that occurred on Wednesday, August 30th. The shares were bought at an average cost of $11.95 per share, with a total value of $29,875.00. Following the completion of the purchase, the chief executive officer now directly owns 82,703 shares in the company, valued at $988,300.85. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael J. Newsome purchased 10,000 shares of Hibbett Sports stock in a transaction that occurred on Friday, August 25th. The stock was purchased at an average cost of $12.13 per share, for a total transaction of $121,300.00. Following the completion of the purchase, the director now owns 44,924 shares of the company’s stock, valued at $544,928.12. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 25,500 shares of company stock worth $312,595. 1.60% of the stock is owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in HIBB. JPMorgan Chase & Co. boosted its holdings in Hibbett Sports by 7.5% in the first quarter. JPMorgan Chase & Co. now owns 4,190 shares of the company’s stock worth $123,000 after acquiring an additional 291 shares in the last quarter. Mason Street Advisors LLC boosted its holdings in Hibbett Sports by 5.0% in the first quarter. Mason Street Advisors LLC now owns 5,135 shares of the company’s stock worth $151,000 after acquiring an additional 245 shares in the last quarter. Municipal Employees Retirement System of Michigan boosted its holdings in Hibbett Sports by 52.0% in the second quarter. Municipal Employees Retirement System of Michigan now owns 7,750 shares of the company’s stock worth $161,000 after acquiring an additional 2,650 shares in the last quarter. Schroder Investment Management Group boosted its holdings in Hibbett Sports by 215.0% in the first quarter. Schroder Investment Management Group now owns 6,300 shares of the company’s stock worth $188,000 after acquiring an additional 4,300 shares in the last quarter. Finally, UBS Group AG boosted its holdings in Hibbett Sports by 135.8% in the first quarter. UBS Group AG now owns 6,379 shares of the company’s stock worth $188,000 after acquiring an additional 3,674 shares in the last quarter.
Shares of Hibbett Sports (HIBB) opened at 14.05 on Thursday. The company has a market cap of $288.57 million, a PE ratio of 6.87 and a beta of 0.76. The company’s 50-day moving average is $13.16 and its 200 day moving average is $21.99. Hibbett Sports has a 52-week low of $9.40 and a 52-week high of $45.85.
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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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