HanesBrands Inc. (HBI) Expected to Earn FY2016 Earnings of $1.90 Per Share
HanesBrands Inc. (NYSE:HBI) – Research analysts at DA Davidson decreased their FY2016 earnings per share (EPS) estimates for shares of HanesBrands in a report issued on Wednesday. DA Davidson analyst A. Burns now expects that the brokerage will post earnings of $1.90 per share for the year, down from their previous estimate of $1.91. DA Davidson also issued estimates for HanesBrands’ FY2017 earnings at $2.21 EPS.
Several other brokerages also recently weighed in on HBI. Cowen and Company downgraded shares of HanesBrands from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $33.00 to $27.00 in a research note on Wednesday. Credit Suisse Group AG reaffirmed a “buy” rating and set a $37.00 target price on shares of HanesBrands in a research note on Wednesday, September 14th. Zacks Investment Research raised shares of HanesBrands from a “sell” rating to a “hold” rating in a research note on Tuesday, August 23rd. Citigroup Inc. cut their target price on shares of HanesBrands from $37.00 to $32.00 and set a “buy” rating on the stock in a research note on Thursday, August 4th. Finally, Oppenheimer Holdings Inc. reaffirmed an “outperform” rating and set a $35.00 target price on shares of HanesBrands in a research note on Tuesday, August 2nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eleven have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $33.79.
HanesBrands (NYSE:HBI) traded down 0.53% on Friday, hitting $24.57. 1,706,413 shares of the company’s stock were exchanged. HanesBrands has a 12-month low of $23.25 and a 12-month high of $33.24. The company has a market cap of $9.28 billion, a PE ratio of 19.72 and a beta of 0.94. The company’s 50-day moving average price is $25.96 and its 200-day moving average price is $26.76.
HanesBrands (NYSE:HBI) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported $0.51 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.52 by $0.01. The company earned $1.47 billion during the quarter, compared to analysts’ expectations of $1.53 billion. HanesBrands had a return on equity of 59.48% and a net margin of 8.60%. The company’s quarterly revenue was down 3.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.50 EPS.
A number of hedge funds have recently modified their holdings of HBI. Washington Trust Bank boosted its stake in shares of HanesBrands by 0.8% in the third quarter. Washington Trust Bank now owns 4,033 shares of the company’s stock worth $102,000 after buying an additional 33 shares in the last quarter. First Personal Financial Services acquired a new stake in shares of HanesBrands during the second quarter worth $104,000. Mizuho Asset Management Co. Ltd. boosted its stake in shares of HanesBrands by 102.0% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 4,937 shares of the company’s stock worth $124,000 after buying an additional 2,493 shares in the last quarter. MSI Financial Services Inc boosted its stake in shares of HanesBrands by 19.0% in the third quarter. MSI Financial Services Inc now owns 5,235 shares of the company’s stock worth $132,000 after buying an additional 836 shares in the last quarter. Finally, Pinkerton Retirement Specialists LLC acquired a new stake in shares of HanesBrands during the second quarter worth $135,000. Hedge funds and other institutional investors own 91.31% of the company’s stock.
In other HanesBrands news, CEO Richard A. Noll purchased 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 9th. The stock was purchased at an average price of $25.74 per share, for a total transaction of $514,800.00. Following the purchase, the chief executive officer now directly owns 870,077 shares in the company, valued at $22,395,781.98. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.00% of the company’s stock.
HanesBrands Company Profile
Hanesbrands Inc is a manufacturer and marketer of apparels. The Company operates through four segments: Innerwear, Activewear, Direct to Consumer and International. The Company’s portfolio of brands includes Hanes, Champion, Maidenform, DIM, Playtex, Bali, JMS/Just My Size, Nur Die/Nur Der, L’eggs, Lovable, Wonderbra, Flexees, Lilyette and Gear for Sports.
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