Hanesbrands Inc. (HBI) Declares $0.15 Quarterly Dividend
Hanesbrands Inc. (NYSE:HBI) declared a quarterly dividend on Tuesday, October 24th, RTT News reports. Stockholders of record on Tuesday, November 14th will be given a dividend of 0.15 per share by the textile maker on Tuesday, December 5th. This represents a $0.60 annualized dividend and a dividend yield of 2.60%.
Hanesbrands has raised its dividend payment by an average of 43.1% per year over the last three years and has raised its dividend annually for the last 3 consecutive years. Hanesbrands has a dividend payout ratio of 30.3% meaning its dividend is sufficiently covered by earnings. Analysts expect Hanesbrands to earn $2.16 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 27.8%.
Shares of Hanesbrands (HBI) traded up 1.09% on Tuesday, hitting $23.11. The stock had a trading volume of 5,426,316 shares. Hanesbrands has a 12-month low of $18.91 and a 12-month high of $27.07. The company has a market cap of $8.42 billion, a price-to-earnings ratio of 15.14 and a beta of 0.72. The stock has a 50 day moving average price of $24.32 and a 200-day moving average price of $22.94.
Hanesbrands (NYSE:HBI) last posted its quarterly earnings results on Tuesday, August 1st. The textile maker reported $0.53 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.53. Hanesbrands had a net margin of 9.02% and a return on equity of 64.80%. The company had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same period last year, the company posted $0.51 EPS. The firm’s quarterly revenue was up 11.8% compared to the same quarter last year. On average, equities analysts expect that Hanesbrands will post $1.99 earnings per share for the current year.
In related news, CFO Richard D. Moss sold 20,000 shares of the business’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $24.08, for a total value of $481,600.00. Following the transaction, the chief financial officer now directly owns 254,487 shares of the company’s stock, valued at approximately $6,128,046.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider John T. Marsh sold 10,325 shares of the business’s stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $24.27, for a total transaction of $250,587.75. Following the completion of the transaction, the insider now directly owns 99,997 shares in the company, valued at $2,426,927.19. The disclosure for this sale can be found here. 1.10% of the stock is owned by insiders.
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Several equities research analysts recently commented on HBI shares. BidaskClub lowered shares of Hanesbrands from a “buy” rating to a “hold” rating in a report on Tuesday, June 27th. Zacks Investment Research lowered shares of Hanesbrands from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. ValuEngine upgraded shares of Hanesbrands from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Buckingham Research reiterated a “buy” rating and issued a $30.00 price objective on shares of Hanesbrands in a research note on Monday, July 17th. Finally, Credit Suisse Group set a $28.00 price objective on shares of Hanesbrands and gave the company a “buy” rating in a research note on Thursday, July 27th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the stock. Hanesbrands currently has a consensus rating of “Hold” and a consensus price target of $27.02.
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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