Forward View Analysts Raise Earnings Estimates for Hibbett Sports, Inc. (HIBB)
Hibbett Sports, Inc. (NASDAQ:HIBB) – Analysts at Forward View lifted their Q1 2019 earnings per share estimates for shares of Hibbett Sports in a note issued to investors on Monday. Forward View analyst N. Yates now forecasts that the company will post earnings of $0.53 per share for the quarter, up from their previous estimate of $0.51. Forward View has a “Sell” rating and a $10.00 price objective on the stock. Forward View also issued estimates for Hibbett Sports’ Q2 2019 earnings at ($0.17) EPS, Q3 2019 earnings at $0.22 EPS, Q4 2019 earnings at $0.26 EPS and FY2019 earnings at $0.84 EPS.
Hibbett Sports (NASDAQ:HIBB) last announced its quarterly earnings data on Friday, August 18th. The company reported ($0.15) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.20) by $0.05. Hibbett Sports had a return on equity of 13.38% and a net margin of 4.68%. The company had revenue of $188 million for the quarter, compared to analyst estimates of $190.31 million. During the same quarter in the previous year, the company earned $0.29 EPS. The firm’s revenue for the quarter was down 9.1% compared to the same quarter last year. WARNING: “Forward View Analysts Raise Earnings Estimates for Hibbett Sports, Inc. (HIBB)” was originally published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this article on another website, it was illegally copied and republished in violation of US and international trademark and copyright legislation. The original version of this article can be read at https://www.thecerbatgem.com/2017/08/30/forward-view-analysts-raise-earnings-estimates-for-hibbett-sports-inc-hibb.html.
Several other brokerages also recently issued reports on HIBB. B. Riley reissued a “neutral” rating and set a $29.00 price target on shares of Hibbett Sports in a report on Tuesday, May 2nd. Feltl & Co. raised shares of Hibbett Sports from a “hold” rating to a “buy” rating in a report on Monday, May 22nd. MKM Partners reissued a “neutral” rating and set a $24.00 price target (down from $27.00) on shares of Hibbett Sports in a report on Monday, May 22nd. ValuEngine downgraded shares of Hibbett Sports from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $25.00 target price (down from $27.00) on shares of Hibbett Sports in a research note on Friday, May 19th. Five analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $21.89.
Shares of Hibbett Sports (NASDAQ HIBB) traded down 1.26% during midday trading on Wednesday, reaching $11.80. The company’s stock had a trading volume of 322,700 shares. The stock has a 50 day moving average of $15.45 and a 200-day moving average of $23.57. The company has a market capitalization of $245.22 million, a P/E ratio of 5.77 and a beta of 0.71. Hibbett Sports has a 1-year low of $9.40 and a 1-year high of $45.85.
In other news, Director Michael J. Newsome acquired 10,000 shares of the firm’s stock in a transaction that occurred on Friday, August 25th. The stock was purchased at an average price of $12.13 per share, for a total transaction of $121,300.00. Following the completion of the acquisition, the director now owns 44,924 shares in the company, valued at $544,928.12. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.60% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in HIBB. BlackRock Inc. boosted its position in Hibbett Sports by 94,396.9% in the first quarter. BlackRock Inc. now owns 2,945,468 shares of the company’s stock valued at $86,891,000 after buying an additional 2,942,351 shares during the period. FMR LLC boosted its position in Hibbett Sports by 3.9% in the first quarter. FMR LLC now owns 2,660,436 shares of the company’s stock valued at $78,483,000 after buying an additional 100,929 shares during the period. Vanguard Group Inc. boosted its position in Hibbett Sports by 7.5% in the first quarter. Vanguard Group Inc. now owns 2,004,952 shares of the company’s stock valued at $59,147,000 after buying an additional 140,569 shares during the period. Dimensional Fund Advisors LP boosted its position in Hibbett Sports by 63.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,312,080 shares of the company’s stock valued at $27,226,000 after buying an additional 511,443 shares during the period. Finally, State Street Corp boosted its position in Hibbett Sports by 10.4% in the second quarter. State Street Corp now owns 791,812 shares of the company’s stock valued at $16,428,000 after buying an additional 74,526 shares during the period.
About Hibbett Sports
Hibbett Sports, Inc operates athletic specialty stores in small and mid-sized markets in the South, Southwest, Mid-Atlantic and the Midwest regions of the United States. As of January 28, 2017, the Company had operated 1,078 stores consisting of 1,059 Hibbett Sports stores and 19 smaller-format Sports Additions athletic shoe stores in 35 states.
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