Hanesbrands (NYSE:HBI) Updates Q2 2024 Earnings Guidance

Hanesbrands (NYSE:HBI) updated its second quarter 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 0.070-0.110 for the period, compared to the consensus estimate of 0.100. The company issued revenue guidance of $1.3 billion-$1.4 billion, compared to the consensus revenue estimate of $1.3 billion. Hanesbrands also updated its FY 2024 guidance to 0.420-0.480 EPS.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Citigroup raised their price objective on Hanesbrands from $4.50 to $5.50 and gave the stock a neutral rating in a research note on Wednesday, April 3rd. Wedbush increased their target price on Hanesbrands from $4.50 to $5.00 and gave the stock a neutral rating in a research report on Wednesday, April 3rd.

Hanesbrands Trading Up 1.8 %

Shares of HBI stock opened at $4.54 on Thursday. The stock has a 50-day simple moving average of $5.09 and a 200 day simple moving average of $4.54. Hanesbrands has a fifty-two week low of $3.54 and a fifty-two week high of $5.86. The stock has a market capitalization of $1.60 billion, a P/E ratio of -88.98 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.

Hanesbrands (NYSE:HBI) last released its quarterly earnings results on Thursday, May 9th. The textile maker reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.04. 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 during the quarter, compared to analyst estimates of $1.19 billion. During the same quarter last year, the company posted ($0.06) EPS. Hanesbrands’s revenue for the quarter was down 16.8% on a year-over-year basis. On average, sell-side analysts expect that Hanesbrands will post 0.44 earnings per share for the current fiscal year.

About Hanesbrands

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.