Hanesbrands (NYSE:HBI) Posts Quarterly Earnings Results, Beats Estimates By $0.04 EPS

Hanesbrands (NYSE:HBI) announced its quarterly earnings results on Thursday. The textile maker reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.04, RTT News reports. Hanesbrands had a positive return on equity of 5.84% and a negative net margin of 0.31%. The business had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter last year, the business posted ($0.06) EPS. The business’s revenue was down 16.8% on a year-over-year basis.

Hanesbrands Price Performance

NYSE:HBI traded up $0.23 during trading hours on Thursday, reaching $4.69. 5,836,907 shares of the company’s stock were exchanged, compared to its average volume of 8,475,627. Hanesbrands has a 12 month low of $3.54 and a 12 month high of $5.86. The business’s 50-day simple moving average is $5.09 and its two-hundred day simple moving average is $4.54. The company has a market capitalization of $1.65 billion, a P/E ratio of -94.98 and a beta of 1.62. The company has a quick ratio of 0.65, a current ratio of 1.64 and a debt-to-equity ratio of 7.72.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Wedbush upped their target price on shares of Hanesbrands from $4.50 to $5.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 3rd. Citigroup boosted their price target on Hanesbrands from $4.50 to $5.50 and gave the stock a “neutral” rating in a research report on Wednesday, April 3rd.

Hanesbrands Company Profile

Hanesbrands Inc, a consumer goods company, designs, manufactures, sources, and sells a range of range of innerwear apparels for men, women, and children in the Americas, Europe, the Asia pacific, and internationally. The company operates through three segments: Innerwear, Activewear, and International.