Hibbett Sports Inc. (HIBB) Posts Earnings Results, Misses Estimates By $0.08 EPS
Hibbett Sports Inc. (NASDAQ:HIBB) released its earnings results on Friday. The company reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.74 by $0.08. Hibbett Sports had a net margin of 7.32% and a return on equity of 22.04%. The business had revenue of $237 million for the quarter, compared to the consensus estimate of $237.06 million. During the same quarter in the previous year, the firm earned $0.79 EPS. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. Hibbett Sports updated its FY17 guidance to $2.82-2.88 EPS.
Hibbett Sports (NASDAQ:HIBB) opened at 45.30 on Friday. The firm has a market capitalization of $996.01 million, a price-to-earnings ratio of 14.77 and a beta of 0.85. The firm’s 50-day moving average price is $40.72 and its 200 day moving average price is $37.40. Hibbett Sports has a 1-year low of $28.23 and a 1-year high of $45.85.
In other Hibbett Sports news, Director Michael J. Newsome sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, October 13th. The stock was sold at an average price of $39.97, for a total transaction of $399,700.00. Following the transaction, the director now owns 29,882 shares of the company’s stock, valued at approximately $1,194,383.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Albert C. Johnson sold 1,000 shares of Hibbett Sports stock in a transaction that occurred on Wednesday, August 24th. The stock was sold at an average price of $38.81, for a total value of $38,810.00. Following the transaction, the director now owns 4,837 shares of the company’s stock, valued at $187,723.97. The disclosure for this sale can be found here. Company insiders own 2.50% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Commerce Bank increased its stake in Hibbett Sports by 0.5% in the second quarter. Commerce Bank now owns 9,615 shares of the company’s stock worth $334,000 after buying an additional 50 shares during the last quarter. Municipal Employees Retirement System of Michigan boosted its position in Hibbett Sports by 0.9% in the third quarter. Municipal Employees Retirement System of Michigan now owns 6,700 shares of the company’s stock worth $267,000 after buying an additional 60 shares during the period. Capstone Asset Management Co. boosted its position in Hibbett Sports by 1.9% in the second quarter. Capstone Asset Management Co. now owns 7,373 shares of the company’s stock worth $257,000 after buying an additional 140 shares during the period. BlackRock Inc. boosted its position in Hibbett Sports by 8.7% in the third quarter. BlackRock Inc. now owns 3,240 shares of the company’s stock worth $130,000 after buying an additional 260 shares during the period. Finally, Profund Advisors LLC boosted its position in Hibbett Sports by 4.9% in the second quarter. Profund Advisors LLC now owns 7,304 shares of the company’s stock worth $254,000 after buying an additional 338 shares during the period.
Several brokerages have recently issued reports on HIBB. B. Riley reissued a “neutral” rating and set a $44.00 price target on shares of Hibbett Sports in a report on Monday. Canaccord Genuity set a $40.00 price target on shares of Hibbett Sports and gave the company a “hold” rating in a report on Saturday, November 12th. Zacks Investment Research raised shares of Hibbett Sports from a “hold” rating to a “buy” rating and set a $46.00 price target for the company in a report on Monday, October 24th. Brean Capital restated a “sell” rating on shares of Hibbett Sports in a report on Thursday, September 22nd. Finally, Forward View upgraded Hibbett Sports from a “hold” rating to a “buy” rating in a report on Sunday, September 18th. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company’s stock. Hibbett Sports has an average rating of “Hold” and a consensus price target of $38.88.
About Hibbett Sports
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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