Hibbett Sports (HIBB) Trading Up 5.9% on Better-Than-Expected Earnings
Hibbett Sports, Inc. (NASDAQ:HIBB)’s share price was up 5.9% on Monday following a better than expected earnings announcement. The company traded as high as $23.25 and last traded at $23.25. Approximately 1,151,623 shares were traded during trading, an increase of 36% from the average daily volume of 847,566 shares. The stock had previously closed at $21.95.
The company reported $0.51 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.15. The company had revenue of $266.70 million for the quarter, compared to analyst estimates of $261.37 million. Hibbett Sports had a net margin of 3.62% and a return on equity of 10.37%. The business’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same period last year, the business posted $0.54 earnings per share.
Several equities research analysts have weighed in on HIBB shares. ValuEngine upgraded shares of Hibbett Sports from a “buy” rating to a “strong-buy” rating in a report on Sunday, December 31st. BidaskClub lowered shares of Hibbett Sports from a “strong-buy” rating to a “buy” rating in a report on Saturday, January 6th. Canaccord Genuity upgraded shares of Hibbett Sports from a “hold” rating to a “buy” rating and set a $11.00 target price on the stock in a report on Monday, January 8th. Bank of America upgraded shares of Hibbett Sports from an “underperform” rating to a “buy” rating and cut their target price for the stock from $14.00 to $12.00 in a report on Tuesday, January 16th. Finally, Stephens reiterated a “hold” rating and issued a $22.00 target price on shares of Hibbett Sports in a report on Monday, February 26th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Hibbett Sports has an average rating of “Hold” and a consensus price target of $22.30.
The company has a market capitalization of $450.85, a PE ratio of 12.95 and a beta of 0.85.
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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