Hanesbrands (NYSE:HBI) Updates Q2 Earnings Guidance

Hanesbrands (NYSE:HBI) updated its second quarter earnings guidance on Thursday. The company provided EPS guidance of $0.07-0.11 for the period, compared to the consensus EPS estimate of $0.10. The company issued revenue guidance of $1.335-1.375 billion, compared to the consensus revenue estimate of $1.34 billion. Hanesbrands also updated its FY24 guidance to $0.42-0.48 EPS.

Analyst Ratings Changes

A number of brokerages have commented on HBI. Citigroup upped 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. Wedbush lifted their target price on shares of Hanesbrands from $4.50 to $5.00 and gave the company a neutral rating in a research note on Wednesday, April 3rd.

Hanesbrands Price Performance

Hanesbrands stock opened at $4.45 on Thursday. Hanesbrands has a 12-month low of $3.54 and a 12-month high of $5.86. The company has a current ratio of 1.64, a quick ratio of 0.65 and a debt-to-equity ratio of 7.72. The firm has a 50-day moving average price of $5.09 and a 200-day moving average price of $4.54. The firm has a market capitalization of $1.56 billion, a PE ratio of -88.98 and a beta of 1.62.

Hanesbrands (NYSE:HBI) last issued its quarterly earnings results on Thursday, May 9th. The textile maker reported ($0.02) earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same period in the prior year, the business posted ($0.06) earnings per share. The company’s revenue for the quarter was down 16.8% on a year-over-year basis. As a group, equities research analysts forecast that Hanesbrands will post 0.44 EPS for the current 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.