Hibbett Sports, Inc. (HIBB) Expected to Announce Quarterly Sales of $255.96 Million

Brokerages expect Hibbett Sports, Inc. (NASDAQ:HIBB) to post $255.96 million in sales for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for Hibbett Sports’ earnings. The highest sales estimate is $263.40 million and the lowest is $236.80 million. Hibbett Sports reported sales of $246.93 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 3.7%. The company is expected to report its next earnings results on Friday, March 9th.

According to Zacks, analysts expect that Hibbett Sports will report full-year sales of $255.96 million for the current fiscal year, with estimates ranging from $916.30 million to $964.88 million. For the next financial year, analysts forecast that the firm will post sales of $952.14 million per share, with estimates ranging from $913.20 million to $967.10 million. Zacks’ sales averages are a mean average based on a survey of research firms that follow Hibbett Sports.

Hibbett Sports (NASDAQ:HIBB) last posted its earnings results on Friday, November 17th. The company reported $0.37 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.15. The company had revenue of $237.80 million for the quarter, compared to analyst estimates of $219.38 million. Hibbett Sports had a net margin of 3.94% and a return on equity of 11.38%. The business’s revenue for the quarter was up .3% compared to the same quarter last year. During the same period last year, the business posted $0.66 earnings per share.

Several equities research analysts have weighed in on the stock. Stifel Nicolaus set a $20.00 target price on shares of Hibbett Sports and gave the stock a “hold” rating in a report on Friday. Robert W. Baird reiterated a “hold” rating on shares of Hibbett Sports in a report on Friday. Susquehanna Bancshares reiterated a “buy” rating and issued a $21.00 target price on shares of Hibbett Sports in a report on Monday, November 20th. Buckingham Research lowered shares of Hibbett Sports from a “neutral” rating to an “underperform” rating and set a $13.00 target price on the stock. in a report on Tuesday, November 21st. Finally, Zacks Investment Research lowered shares of Hibbett Sports from a “buy” rating to a “hold” rating in a report on Thursday, November 23rd. Five analysts have rated the stock with a sell rating, thirteen have issued a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $21.59.

Shares of Hibbett Sports (NASDAQ HIBB) opened at $20.90 on Friday. The firm has a market cap of $429.29, a price-to-earnings ratio of 12.08, a price-to-earnings-growth ratio of 6.47 and a beta of 0.96. Hibbett Sports has a twelve month low of $9.40 and a twelve month high of $41.00.

Large investors have recently modified their holdings of the stock. Municipal Employees Retirement System of Michigan raised its holdings in shares of Hibbett Sports by 52.0% during 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 during the period. Hotchkis & Wiley Capital Management LLC bought a new position in Hibbett Sports in the third quarter valued at $143,000. Voya Investment Management LLC grew its position in Hibbett Sports by 11.9% in the second quarter. Voya Investment Management LLC now owns 12,007 shares of the company’s stock valued at $249,000 after purchasing an additional 1,278 shares in the last quarter. Thrivent Financial For Lutherans grew its position in Hibbett Sports by 1.4% in the second quarter. Thrivent Financial For Lutherans now owns 12,520 shares of the company’s stock valued at $260,000 after purchasing an additional 170 shares in the last quarter. Finally, Verition Fund Management LLC bought a new position in Hibbett Sports in the second quarter valued at $280,000.

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Hibbett Sports Company Profile

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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Earnings History and Estimates for Hibbett Sports (NASDAQ:HIBB)

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