Equities Analysts Set Expectations for Hibbett Sports Inc.’s Q3 2017 Earnings (HIBB)
Hibbett Sports Inc. (NASDAQ:HIBB) – Equities researchers at B. Riley lowered their Q3 2017 earnings per share (EPS) estimates for shares of Hibbett Sports in a research report issued on Monday. B. Riley analyst M. Kummetz now expects that the brokerage will post earnings of $0.75 per share for the quarter, down from their prior forecast of $0.77. B. Riley has a “Neutral” rating and a $44.00 price target on the stock. B. Riley also issued estimates for Hibbett Sports’ Q4 2017 earnings at $0.76 EPS.
Other research analysts also recently issued reports about the company. Zacks Investment Research raised Hibbett Sports from a “hold” rating to a “buy” rating and set a $41.00 price target on the stock in a report on Monday, July 25th. Forward View raised Hibbett Sports from a “hold” rating to a “buy” rating in a report on Sunday, September 18th. Canaccord Genuity reissued a “hold” rating and issued a $36.00 target price on shares of Hibbett Sports in a report on Wednesday, August 17th. Deutsche Bank AG reissued a “hold” rating and issued a $47.00 target price on shares of Hibbett Sports in a report on Thursday, August 25th. Finally, BMO Capital Markets lowered their target price on Hibbett Sports from $47.00 to $37.00 and set a “market perform” rating on the stock in a report on Thursday, August 25th. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $38.88.
Hibbett Sports (NASDAQ:HIBB) opened at 44.55 on Wednesday. The company’s 50-day moving average is $40.57 and its 200-day moving average is $37.34. Hibbett Sports has a one year low of $27.80 and a one year high of $45.85. The firm has a market capitalization of $979.52 billion, a P/E ratio of 14.56 and a beta of 0.85.
Hibbett Sports (NASDAQ:HIBB) last issued its earnings results on Friday, August 19th. The company reported $0.29 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.02. The business had revenue of $206.90 million for the quarter. Hibbett Sports had a net margin of 7.32% and a return on equity of 22.04%. Hibbett Sports’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.28 earnings per share.
Several institutional investors have recently added to or reduced their stakes in HIBB. Catalyst Capital Advisors LLC acquired a new position in Hibbett Sports during the third quarter valued at approximately $100,000. BlackRock Inc. boosted its stake in Hibbett Sports by 72.8% in the second quarter. BlackRock Inc. now owns 2,980 shares of the company’s stock valued at $104,000 after buying an additional 1,255 shares in the last quarter. Advisory Services Network LLC boosted its stake in Hibbett Sports by 14.5% in the third quarter. Advisory Services Network LLC now owns 2,682 shares of the company’s stock valued at $107,000 after buying an additional 340 shares in the last quarter. Teacher Retirement System of Texas boosted its stake in Hibbett Sports by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 3,328 shares of the company’s stock valued at $116,000 after buying an additional 403 shares in the last quarter. Finally, Acrospire Investment Management LLC boosted its stake in Hibbett Sports by 105.9% in the second quarter. Acrospire Investment Management LLC now owns 3,500 shares of the company’s stock valued at $122,000 after buying an additional 1,800 shares in the last quarter.
In related news, Director Albert C. Johnson sold 1,000 shares of the company’s stock in a transaction dated Wednesday, August 24th. The shares were sold at an average price of $38.81, for a total value of $38,810.00. Following the transaction, the director now directly owns 4,837 shares in the company, valued at $187,723.97. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Cathy E. Pryor sold 2,500 shares of the company’s stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $40.00, for a total transaction of $100,000.00. Following the completion of the transaction, the vice president now owns 17,108 shares in the company, valued at $684,320. The disclosure for this sale can be found here. 2.50% of the stock is currently owned by company insiders.
Hibbett Sports Company Profile
Hibbett Sports, Inc operates sporting goods stores in small to mid-sized markets in the South, Southwest, Mid-Atlantic and Midwest regions of the United States. The Company operates approximately 1,040 stores in over 30 states, which consists of approximately 1,020 Hibbett Sports stores and over 20 Sports Additions athletic shoe stores.
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