Hanesbrands (NYSE:HBI) Posts Quarterly Earnings Results, Misses Estimates By $0.01 EPS

Hanesbrands (NYSE:HBI) released its quarterly earnings data on Thursday. The textile maker reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.01), Zacks reports. The firm had revenue of $891.68 million during the quarter, compared to analysts’ expectations of $905.37 million. Hanesbrands had a net margin of 9.34% and a return on equity of 129.43%. Hanesbrands’s revenue was down 1.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.15 EPS.

Hanesbrands Stock Performance

HBI traded up $0.04 during midday trading on Friday, reaching $6.39. The company had a trading volume of 3,900,545 shares, compared to its average volume of 6,262,908. The business has a 50-day moving average of $6.60 and a two-hundred day moving average of $5.54. The company has a market cap of $2.26 billion, a P/E ratio of 6.94 and a beta of 1.50. Hanesbrands has a 1 year low of $3.96 and a 1 year high of $9.10. The company has a quick ratio of 0.74, a current ratio of 1.51 and a debt-to-equity ratio of 4.94.

Analysts Set New Price Targets

A number of brokerages recently commented on HBI. Wall Street Zen upgraded Hanesbrands from a “hold” rating to a “strong-buy” rating in a report on Saturday, August 9th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Hanesbrands in a report on Wednesday, October 8th. Wells Fargo & Company upgraded shares of Hanesbrands from a “strong sell” rating to an “equal weight” rating and upped their price target for the stock from $5.00 to $6.00 in a research note on Thursday, August 14th. UBS Group upped their price objective on Hanesbrands from $8.00 to $9.00 and gave the company a “buy” rating in a research report on Friday, August 8th. Finally, Citigroup upped their target price on shares of Hanesbrands from $5.50 to $7.00 and gave the company a “neutral” rating in a research note on Thursday, October 23rd. One analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $6.60.

Institutional Investors Weigh In On Hanesbrands

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Strs Ohio bought a new position in shares of Hanesbrands in the first quarter worth about $38,000. Corient Private Wealth LLC increased its position in Hanesbrands by 42.5% in the second quarter. Corient Private Wealth LLC now owns 16,618 shares of the textile maker’s stock worth $76,000 after purchasing an additional 4,954 shares during the last quarter. FORA Capital LLC purchased a new stake in Hanesbrands during the second quarter valued at $82,000. IHT Wealth Management LLC lifted its holdings in shares of Hanesbrands by 23.0% in the 2nd quarter. IHT Wealth Management LLC now owns 18,665 shares of the textile maker’s stock valued at $85,000 after acquiring an additional 3,490 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in shares of Hanesbrands by 21.2% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 19,328 shares of the textile maker’s stock valued at $89,000 after purchasing an additional 3,380 shares during the last quarter. 80.31% of the stock is owned by institutional investors.

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.