$1.63 Billion in Sales Expected for Hanesbrands Inc. (HBI) This Quarter
Equities research analysts forecast that Hanesbrands Inc. (NYSE:HBI) will announce $1.63 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have made estimates for Hanesbrands’ earnings, with the highest sales estimate coming in at $1.64 billion and the lowest estimate coming in at $1.62 billion. Hanesbrands posted sales of $1.58 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 3.2%. The business is expected to announce its next quarterly earnings results on Thursday, February 1st.
According to Zacks, analysts expect that Hanesbrands will report full year sales of $1.63 billion for the current financial year, with estimates ranging from $6.45 billion to $6.49 billion. For the next financial year, analysts expect that the firm will report sales of $6.62 billion per share, with estimates ranging from $6.49 billion to $6.72 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Hanesbrands.
Hanesbrands (NYSE:HBI) last released its earnings results on Wednesday, November 1st. The textile maker reported $0.60 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.60. The firm had revenue of $1.80 billion during the quarter, compared to analysts’ expectations of $1.80 billion. Hanesbrands had a net margin of 9.43% and a return on equity of 64.73%. Hanesbrands’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.56 EPS.
Several analysts have recently issued reports on the stock. BidaskClub cut shares of Hanesbrands from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. Nomura lowered their price objective on shares of Hanesbrands from $24.00 to $21.00 and set a “neutral” rating for the company in a research note on Thursday, November 2nd. Cowen and Company set a $22.00 price objective on shares of Hanesbrands and gave the company a “hold” rating in a research note on Thursday, August 24th. Oppenheimer Holdings, Inc. reissued a “buy” rating on shares of Hanesbrands in a research note on Wednesday, October 18th. Finally, B. Riley reissued a “buy” rating on shares of Hanesbrands in a research note on Thursday, November 2nd. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and ten have issued a buy rating to the company. Hanesbrands currently has an average rating of “Hold” and a consensus target price of $26.13.
Shares of Hanesbrands (NYSE HBI) opened at $19.34 on Tuesday. The company has a market cap of $7,060.00, a P/E ratio of 9.93, a price-to-earnings-growth ratio of 1.11 and a beta of 0.76. The company has a quick ratio of 0.85, a current ratio of 1.88 and a debt-to-equity ratio of 2.90. Hanesbrands has a 12 month low of $18.91 and a 12 month high of $26.05.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 5th. Stockholders of record on Tuesday, November 14th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Monday, November 13th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.10%. Hanesbrands’s dividend payout ratio (DPR) is presently 37.04%.
In other news, insider John T. Marsh sold 10,325 shares of the company’s stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $24.27, for a total value of $250,587.75. Following the sale, the insider now owns 99,997 shares in the company, valued at approximately $2,426,927.19. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.10% of the company’s stock.
Several large investors have recently made changes to their positions in HBI. Teachers Advisors LLC grew its position in shares of Hanesbrands by 2.7% during the 1st quarter. Teachers Advisors LLC now owns 913,362 shares of the textile maker’s stock valued at $18,961,000 after buying an additional 24,181 shares during the last quarter. Thrivent Financial For Lutherans grew its position in Hanesbrands by 6.9% in the 1st quarter. Thrivent Financial For Lutherans now owns 13,990 shares of the textile maker’s stock worth $290,000 after purchasing an additional 900 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Hanesbrands by 2.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,147,948 shares of the textile maker’s stock worth $23,831,000 after purchasing an additional 23,114 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its position in Hanesbrands by 9.5% in the 1st quarter. Nomura Asset Management Co. Ltd. now owns 49,750 shares of the textile maker’s stock worth $1,033,000 after purchasing an additional 4,300 shares during the last quarter. Finally, Xact Kapitalforvaltning AB grew its position in Hanesbrands by 3.8% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 81,592 shares of the textile maker’s stock worth $1,890,000 after purchasing an additional 3,004 shares during the last quarter. 95.28% of the stock is owned by institutional investors and hedge funds.
Hanesbrands Company Profile
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Hanesbrands Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hanesbrands Inc. and related companies with MarketBeat.com's FREE daily email newsletter.