Brokerages expect Hanesbrands Inc. (NYSE:HBI) to announce sales of $1.43 billion for the current quarter, according to Zacks Investment Research. Six analysts have provided estimates for Hanesbrands’ earnings, with the highest sales estimate coming in at $1.44 billion and the lowest estimate coming in at $1.42 billion. Hanesbrands posted sales of $1.38 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 3.6%. The company is scheduled to report its next earnings results after the market closes on Tuesday, May 1st.
According to Zacks, analysts expect that Hanesbrands will report full year sales of $6.74 billion for the current fiscal year, with estimates ranging from $6.70 billion to $6.78 billion. For the next financial year, analysts forecast that the business will post sales of $6.87 billion per share, with estimates ranging from $6.80 billion to $6.92 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Hanesbrands.
Hanesbrands (NYSE:HBI) last posted its quarterly earnings results on Thursday, February 8th. The textile maker reported $0.52 EPS for the quarter, meeting the consensus estimate of $0.52. The firm had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.63 billion. Hanesbrands had a return on equity of 72.30% and a net margin of 0.96%. The company’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.53 EPS.
Several research firms have commented on HBI. Barclays upped their price target on Hanesbrands from $26.00 to $27.00 and gave the company an “overweight” rating in a report on Thursday, January 25th. ValuEngine cut Hanesbrands from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Zacks Investment Research cut Hanesbrands from a “hold” rating to a “sell” rating in a report on Tuesday, December 19th. Citigroup reaffirmed a “neutral” rating and issued a $23.00 price target on shares of Hanesbrands in a report on Tuesday, December 19th. Finally, Credit Suisse Group began coverage on Hanesbrands in a report on Monday, March 12th. They issued a “neutral” rating and a $21.00 price target for the company. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and seven have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $24.87.
In other news, insider W Howard Upchurch, Jr. sold 51,743 shares of the stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $20.70, for a total value of $1,071,080.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.06% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in HBI. New York State Common Retirement Fund increased its holdings in Hanesbrands by 1.7% during the 3rd quarter. New York State Common Retirement Fund now owns 861,899 shares of the textile maker’s stock valued at $21,237,000 after purchasing an additional 14,500 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Hanesbrands by 0.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,383,535 shares of the textile maker’s stock valued at $34,089,000 after purchasing an additional 6,108 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec increased its holdings in Hanesbrands by 74.6% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 61,333 shares of the textile maker’s stock valued at $1,518,000 after purchasing an additional 26,200 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its holdings in Hanesbrands by 16.6% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 56,699 shares of the textile maker’s stock valued at $1,398,000 after purchasing an additional 8,067 shares in the last quarter. Finally, Allianz Asset Management GmbH increased its holdings in Hanesbrands by 1,429.0% during the 3rd quarter. Allianz Asset Management GmbH now owns 358,080 shares of the textile maker’s stock valued at $8,823,000 after purchasing an additional 334,661 shares in the last quarter. 99.99% of the stock is owned by hedge funds and other institutional investors.
Hanesbrands stock traded down $0.43 during trading hours on Thursday, hitting $18.13. The stock had a trading volume of 6,772,777 shares, compared to its average volume of 5,031,385. The company has a quick ratio of 0.85, a current ratio of 1.90 and a debt-to-equity ratio of 5.40. The stock has a market cap of $6,686.11, a price-to-earnings ratio of 9.39, a price-to-earnings-growth ratio of 1.17 and a beta of 0.73. Hanesbrands has a fifty-two week low of $17.94 and a fifty-two week high of $25.73.
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Hanesbrands Inc is a marketer of basic innerwear and activewear apparel in the Americas, Europe, Australia and Asia/Pacific under apparel brands, such as Hanes, Champion, Maidenform, DIM, Bali, Playtex, Bonds, JMS/Just My Size, Nur Die/Nur Der, L’eggs, Lovable, Wonderbra, Flexees, Gear for Sports and Berlei.
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