Zacks: Analysts Expect Hanesbrands Inc. (HBI) Will Announce Earnings of $0.60 Per Share
Wall Street brokerages predict that Hanesbrands Inc. (NYSE:HBI) will post earnings of $0.60 per share for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for Hanesbrands’ earnings, with the highest EPS estimate coming in at $0.62 and the lowest estimate coming in at $0.59. Hanesbrands posted earnings of $0.56 per share during the same quarter last year, which would suggest a positive year over year growth rate of 7.1%. The firm is scheduled to issue its next earnings results on Thursday, October 26th.
On average, analysts expect that Hanesbrands will report full-year earnings of $1.98 per share for the current financial year, with EPS estimates ranging from $1.96 to $2.01. For the next financial year, analysts expect that the firm will post earnings of $2.14 per share, with EPS estimates ranging from $2.08 to $2.22. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research analysts that cover Hanesbrands.
Hanesbrands (NYSE:HBI) last released its quarterly earnings data on Tuesday, August 1st. The textile maker reported $0.53 EPS for the quarter, hitting analysts’ consensus estimates of $0.53. Hanesbrands had a return on equity of 64.80% and a net margin of 9.02%. The firm had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter in the prior year, the company posted $0.51 earnings per share. The firm’s revenue was up 11.8% on a year-over-year basis.
Several research firms have commented on HBI. Stifel Nicolaus restated a “hold” rating and issued a $23.00 target price on shares of Hanesbrands in a research note on Tuesday. FBR & Co restated a “buy” rating and issued a $33.00 target price on shares of Hanesbrands in a research note on Thursday, September 21st. Instinet cut Hanesbrands from a “buy” rating to a “neutral” rating and set a $26.00 target price on the stock. in a research note on Thursday, September 21st. Nomura cut Hanesbrands from a “buy” rating to a “neutral” rating and set a $26.00 target price on the stock. in a research note on Thursday, September 21st. Finally, Barclays PLC began coverage on Hanesbrands in a research note on Tuesday, September 19th. They issued an “overweight” rating and a $31.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $27.27.
In other Hanesbrands news, insider John T. Marsh sold 10,325 shares of the business’s stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $24.27, for a total transaction of $250,587.75. Following the transaction, the insider now owns 99,997 shares of the company’s stock, valued at approximately $2,426,927.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Richard D. Moss sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $24.08, for a total value of $481,600.00. Following the transaction, the chief financial officer now directly owns 254,487 shares in the company, valued at approximately $6,128,046.96. The disclosure for this sale can be found here. Insiders have sold a total of 73,704 shares of company stock worth $1,737,713 in the last ninety days. Insiders own 1.10% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in shares of Hanesbrands by 6.2% during the 1st quarter. Vanguard Group Inc. now owns 36,962,193 shares of the textile maker’s stock worth $767,336,000 after acquiring an additional 2,158,679 shares during the last quarter. Park Avenue Institutional Advisers LLC acquired a new position in shares of Hanesbrands during the 1st quarter worth approximately $534,000. BB&T Corp increased its holdings in shares of Hanesbrands by 3.2% during the 2nd quarter. BB&T Corp now owns 561,111 shares of the textile maker’s stock worth $12,995,000 after acquiring an additional 17,312 shares during the last quarter. Freestone Capital Holdings LLC increased its holdings in shares of Hanesbrands by 14.0% during the 2nd quarter. Freestone Capital Holdings LLC now owns 180,729 shares of the textile maker’s stock worth $4,186,000 after acquiring an additional 22,190 shares during the last quarter. Finally, Morgan Stanley increased its holdings in shares of Hanesbrands by 21.2% during the 1st quarter. Morgan Stanley now owns 4,009,081 shares of the textile maker’s stock worth $83,228,000 after acquiring an additional 701,732 shares during the last quarter. 94.28% of the stock is currently owned by institutional investors and hedge funds.
ILLEGAL ACTIVITY NOTICE: “Zacks: Analysts Expect Hanesbrands Inc. (HBI) Will Announce Earnings of $0.60 Per Share” was first reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this piece of content on another publication, it was illegally copied and reposted in violation of US & international copyright and trademark laws. The legal version of this piece of content can be viewed at https://www.thecerbatgem.com/2017/09/28/zacks-analysts-expect-hanesbrands-inc-hbi-will-announce-earnings-of-0-60-per-share.html.
Hanesbrands (NYSE:HBI) opened at 25.19 on Thursday. Hanesbrands has a 12-month low of $18.91 and a 12-month high of $27.07. The company has a 50-day moving average price of $24.37 and a 200-day moving average price of $22.33. The firm has a market cap of $9.18 billion, a P/E ratio of 16.51 and a beta of 0.71.
The business also recently declared a quarterly dividend, which was paid on Wednesday, September 6th. Shareholders of record on Tuesday, August 15th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 2.38%. The ex-dividend date was Friday, August 11th. Hanesbrands’s dividend payout ratio (DPR) is 39.47%.
Hanesbrands Company Profile
Hanesbrands Inc is a marketer of basic innerwear and activewear apparel in the Americas, Europe, Australia and Asia/Pacific under apparel brands, such as Hanes, Champion, Maidenform, DIM, Bali, Playtex, Bonds, JMS/Just My Size, Nur Die/Nur Der, L’eggs, Lovable, Wonderbra, Flexees, Gear for Sports and Berlei.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Stock Ratings for Hanesbrands Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hanesbrands Inc. and related stocks with our FREE daily email newsletter.