Zacks: Analysts Expect Hanesbrands Inc. (HBI) Will Announce Quarterly Sales of $1.63 Billion

Wall Street brokerages forecast that Hanesbrands Inc. (NYSE:HBI) will post sales of $1.63 billion for the current fiscal quarter, according to Zacks. Six analysts have issued estimates for Hanesbrands’ earnings, with the lowest sales estimate coming in at $1.61 billion and the highest estimate coming in at $1.64 billion. Hanesbrands posted sales of $1.58 billion during the same quarter last year, which would indicate a positive year over year growth rate of 3.2%. The business is expected to announce its next earnings report before the market opens on Thursday, February 8th.

On average, analysts expect that Hanesbrands will report full-year sales of $1.63 billion for the current financial year, with estimates ranging from $6.43 billion to $6.47 billion. For the next year, analysts anticipate that the company will report sales of $6.62 billion per share, with estimates ranging from $6.49 billion to $6.67 billion. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Hanesbrands.

Hanesbrands (NYSE:HBI) last issued its quarterly earnings data on Wednesday, November 1st. The textile maker reported $0.60 EPS for the quarter, hitting analysts’ consensus estimates of $0.60. The firm had revenue of $1.80 billion during the quarter, compared to analyst estimates of $1.80 billion. Hanesbrands had a return on equity of 64.73% and a net margin of 9.43%. The company’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 posted $0.56 EPS.

HBI has been the subject of a number of recent research reports. Zacks Investment Research raised Hanesbrands from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a report on Monday, October 9th. TheStreet lowered Hanesbrands from a “b” rating to a “c+” rating in a report on Thursday, October 12th. Oppenheimer reissued a “buy” rating on shares of Hanesbrands in a report on Wednesday, October 18th. FBR & Co reissued a “buy” rating on shares of Hanesbrands in a report on Wednesday, October 18th. Finally, Deutsche Bank initiated coverage on Hanesbrands in a report on Monday, October 23rd. They set a “buy” rating and a $29.00 price objective for the company. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $25.69.

Several hedge funds have recently added to or reduced their stakes in the company. Nationwide Fund Advisors lifted its stake in Hanesbrands by 28.0% in the second quarter. Nationwide Fund Advisors now owns 135,407 shares of the textile maker’s stock valued at $3,136,000 after purchasing an additional 29,600 shares during the last quarter. Profund Advisors LLC purchased a new position in Hanesbrands in the second quarter valued at approximately $250,000. Dimensional Fund Advisors LP lifted its stake in Hanesbrands by 20.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,377,427 shares of the textile maker’s stock valued at $31,900,000 after purchasing an additional 229,479 shares during the last quarter. Numeric Investors LLC lifted its stake in Hanesbrands by 17.1% in the second quarter. Numeric Investors LLC now owns 49,900 shares of the textile maker’s stock valued at $1,156,000 after purchasing an additional 7,300 shares during the last quarter. Finally, QS Investors LLC lifted its stake in Hanesbrands by 2.8% in the second quarter. QS Investors LLC now owns 5,100 shares of the textile maker’s stock valued at $118,000 after purchasing an additional 140 shares during the last quarter. 96.94% of the stock is owned by institutional investors.

Shares of Hanesbrands (NYSE:HBI) opened at $20.99 on Friday. The company has a debt-to-equity ratio of 2.90, a quick ratio of 0.85 and a current ratio of 1.88. The company has a market capitalization of $7,820.33, a P/E ratio of 11.00, a price-to-earnings-growth ratio of 1.19 and a beta of 0.68. Hanesbrands has a twelve month low of $18.90 and a twelve month high of $25.73.

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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.

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