Hibbett Sports Inc. (HIBB) Updates FY17 Earnings Guidance
Hibbett Sports Inc. (NASDAQ:HIBB) updated its FY17 earnings guidance on Friday. The company provided earnings per share guidance of $2.82-2.88 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $3.00.
HIBB has been the topic of a number of analyst reports. B. Riley restated a neutral rating and issued a $42.00 price target on shares of Hibbett Sports in a research note on Friday, August 12th. Forward View upgraded Hibbett Sports from a hold rating to a buy rating in a research note on Sunday, September 18th. Canaccord Genuity set a $40.00 price target on Hibbett Sports and gave the company a hold rating in a research note on Saturday, November 12th. Sidoti downgraded Hibbett Sports from a buy rating to a neutral rating in a research note on Friday. Finally, BMO Capital Markets decreased their price target on Hibbett Sports from $47.00 to $37.00 and set a market perform rating on the stock in a research note on Thursday, August 25th. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the stock. Hibbett Sports presently has a consensus rating of Hold and a consensus price target of $38.81.
Hibbett Sports Inc. (NASDAQ:HIBB) opened at 40.40 on Monday. Hibbett Sports Inc. has a 1-year low of $28.23 and a 1-year high of $45.85. The company has a 50-day moving average price of $40.76 and a 200 day moving average price of $37.40. The firm has a market capitalization of $888.27 million, a price-to-earnings ratio of 13.18 and a beta of 0.85.
Hibbett Sports (NASDAQ:HIBB) last issued its quarterly earnings data on Friday, November 18th. The company reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by $0.08. Hibbett Sports had a return on equity of 22.04% and a net margin of 7.32%. The business earned $237 million during the quarter, compared to the consensus estimate of $237.17 million. During the same period last year, the company earned $0.79 earnings per share. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. Equities analysts anticipate that Hibbett Sports Inc. will post $3.00 earnings per share for the current year.
In other Hibbett Sports news, Director Albert C. Johnson sold 1,000 shares of the stock in a transaction on Wednesday, August 24th. The stock was sold at an average price of $38.81, for a total transaction of $38,810.00. Following the completion of the transaction, the director now directly owns 4,837 shares of the company’s stock, valued at approximately $187,723.97. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Michael J. Newsome sold 10,000 shares of the stock in a transaction on Thursday, October 13th. The shares were sold at an average price of $39.97, for a total value of $399,700.00. Following the transaction, the director now directly owns 29,882 shares of the company’s stock, valued at $1,194,383.54. The disclosure for this sale can be found here. 2.50% of the stock is owned by corporate insiders.
Institutional investors have recently modified their holdings of the stock. BlackRock Fund Advisors raised its position in shares of Hibbett Sports by 2.1% in the second quarter. BlackRock Fund Advisors now owns 1,468,239 shares of the company’s stock worth $51,080,000 after buying an additional 29,655 shares during the last quarter. Atlanta Capital Management Co. L L C raised its position in shares of Hibbett Sports by 3.5% in the second quarter. Atlanta Capital Management Co. L L C now owns 602,523 shares of the company’s stock worth $20,962,000 after buying an additional 20,620 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its position in shares of Hibbett Sports by 3.3% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 599,805 shares of the company’s stock worth $20,867,000 after buying an additional 19,415 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Hibbett Sports by 3.9% in the third quarter. Principal Financial Group Inc. now owns 170,453 shares of the company’s stock worth $6,801,000 after buying an additional 6,391 shares during the last quarter. Finally, Parametric Portfolio Associates LLC raised its position in shares of Hibbett Sports by 4.4% in the second quarter. Parametric Portfolio Associates LLC now owns 127,025 shares of the company’s stock worth $4,419,000 after buying an additional 5,347 shares during the last quarter.
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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