Hanesbrands (NYSE:HBI) released its earnings results on Thursday. The textile maker reported $0.45 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.01, Morningstar.com reports. Hanesbrands had a return on equity of 66.47% and a net margin of 8.13%. The company had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.75 billion. During the same quarter in the previous year, the firm posted $0.45 EPS. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. Hanesbrands updated its Q3 guidance to $0.52-0.55 EPS and its FY19 guidance to $1.72-1.80 EPS.
Shares of HBI traded up $0.11 on Friday, reaching $15.16. The stock had a trading volume of 7,076,825 shares, compared to its average volume of 5,145,629. The stock has a market cap of $5.44 billion, a price-to-earnings ratio of 8.87, a PEG ratio of 2.84 and a beta of 1.10. The company has a debt-to-equity ratio of 3.84, a current ratio of 1.66 and a quick ratio of 0.64. The company’s 50-day moving average is $16.70. Hanesbrands has a twelve month low of $11.57 and a twelve month high of $19.38.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 4th. Investors of record on Tuesday, August 13th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.96%. The ex-dividend date is Monday, August 12th. Hanesbrands’s dividend payout ratio is currently 35.09%.
Several research firms have issued reports on HBI. Bank of America dropped their target price on Hanesbrands from $20.00 to $17.00 and set a “neutral” rating on the stock in a research report on Friday. Citigroup dropped their target price on Hanesbrands from $19.00 to $16.00 and set a “neutral” rating on the stock in a research report on Friday. ValuEngine cut Hanesbrands from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 2nd. Finally, Zacks Investment Research cut Hanesbrands from a “hold” rating to a “sell” rating in a research report on Thursday, April 25th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $17.44.
In other news, CFO Barry Hytinen purchased 10,000 shares of the stock in a transaction that occurred on Wednesday, May 8th. The shares were acquired at an average price of $17.56 per share, for a total transaction of $175,600.00. Following the acquisition, the chief financial officer now directly owns 176,312 shares in the company, valued at approximately $3,096,038.72. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 1.04% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BHK Investment Advisors LLC acquired a new stake in shares of Hanesbrands in the 2nd quarter worth approximately $200,000. Comerica Bank grew its holdings in shares of Hanesbrands by 2.7% in the 2nd quarter. Comerica Bank now owns 72,853 shares of the textile maker’s stock worth $1,201,000 after acquiring an additional 1,889 shares during the period. Envestnet Asset Management Inc. lifted its stake in Hanesbrands by 145.0% in the 2nd quarter. Envestnet Asset Management Inc. now owns 734,238 shares of the textile maker’s stock valued at $12,644,000 after buying an additional 434,565 shares in the last quarter. Sigma Planning Corp lifted its stake in Hanesbrands by 97.2% in the 2nd quarter. Sigma Planning Corp now owns 22,901 shares of the textile maker’s stock valued at $394,000 after buying an additional 11,287 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its stake in Hanesbrands by 130.1% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 73,935 shares of the textile maker’s stock valued at $1,286,000 after buying an additional 41,799 shares in the last quarter. Institutional investors and hedge funds own 91.58% of the company’s stock.
Hanesbrands, Inc is a consumer goods company, which engages in the design, manufacture, sourcing, and sale of everyday basic innerwear and activewear apparel in the Americas, Europe, Australia and Asia Pacific. It operates through the following three segments: Innerwear, Activewear and International.
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