Hibbett Sports, Inc. (HIBB) Expected to Announce Quarterly Sales of $257.44 Million

Wall Street analysts predict that Hibbett Sports, Inc. (NASDAQ:HIBB) will post $257.44 million in sales for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for Hibbett Sports’ earnings, with estimates ranging from $236.80 million to $270.81 million. Hibbett Sports posted sales of $246.93 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 4.3%. The business is scheduled to issue its next quarterly earnings results on Friday, March 9th.

On average, analysts expect that Hibbett Sports will report full-year sales of $257.44 million for the current year, with estimates ranging from $916.30 million to $972.29 million. For the next fiscal year, analysts expect that the business will report sales of $954.64 million per share, with estimates ranging from $913.20 million to $974.30 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover Hibbett Sports.

Hibbett Sports (NASDAQ:HIBB) last released its quarterly earnings data on Friday, November 17th. The company reported $0.37 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.15. Hibbett Sports had a return on equity of 11.38% and a net margin of 3.94%. The company had revenue of $237.80 million during the quarter, compared to analysts’ expectations of $219.38 million. During the same period last year, the firm posted $0.66 earnings per share. The business’s revenue was up .3% on a year-over-year basis.

A number of research firms have recently issued reports on HIBB. TheStreet raised Hibbett Sports from a “d+” rating to a “c” rating in a research report on Tuesday, November 21st. BMO Capital Markets raised their price objective on Hibbett Sports from $10.00 to $17.00 and gave the company a “market perform” rating in a research report on Friday, November 17th. Buckingham Research cut Hibbett Sports from a “neutral” rating to an “underperform” rating and set a $13.00 price objective for the company. in a research report on Tuesday, November 21st. Stifel Nicolaus set a $20.00 price objective on Hibbett Sports and gave the company a “hold” rating in a research report on Friday, December 15th. Finally, Robert W. Baird reaffirmed a “hold” rating and issued a $21.00 price objective on shares of Hibbett Sports in a research report on Wednesday, January 3rd. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $21.53.

Shares of Hibbett Sports (HIBB) opened at $24.95 on Friday. Hibbett Sports has a 52-week low of $9.40 and a 52-week high of $34.75. The stock has a market capitalization of $474.36, a P/E ratio of 14.34, a PEG ratio of 7.55 and a beta of 0.96.

A number of large investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP lifted its holdings in Hibbett Sports by 63.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,312,080 shares of the company’s stock worth $27,226,000 after purchasing an additional 511,443 shares during the last quarter. State Street Corp lifted its holdings in Hibbett Sports by 10.4% during the 2nd quarter. State Street Corp now owns 791,812 shares of the company’s stock worth $16,428,000 after purchasing an additional 74,526 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in Hibbett Sports during the 2nd quarter worth approximately $15,077,000. Nordea Investment Management AB lifted its holdings in Hibbett Sports by 74.6% during the 2nd quarter. Nordea Investment Management AB now owns 651,637 shares of the company’s stock worth $13,521,000 after purchasing an additional 278,395 shares during the last quarter. Finally, Atlanta Capital Management Co. L L C lifted its holdings in Hibbett Sports by 0.7% during the 2nd quarter. Atlanta Capital Management Co. L L C now owns 541,421 shares of the company’s stock worth $11,234,000 after purchasing an additional 3,927 shares during the last quarter.

COPYRIGHT VIOLATION WARNING: This article was first posted by American Banking News and is owned by of American Banking News. If you are accessing this article on another publication, it was illegally stolen and reposted in violation of U.S. and international trademark and copyright laws. The correct version of this article can be viewed at https://www.americanbankingnews.com/2018/01/19/hibbett-sports-inc-hibb-expected-to-announce-quarterly-sales-of-257-44-million.html.

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.

Get a free copy of the Zacks research report on Hibbett Sports (HIBB)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Hibbett Sports Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hibbett Sports and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply