Telsey Advisory Group Weighs in on Hibbett, Inc.’s Q1 2024 Earnings (NASDAQ:HIBB)

Hibbett, Inc. (NASDAQ:HIBB – Get Rating) – Telsey Advisory Group lowered their Q1 2024 EPS estimates for shares of Hibbett in a note issued to investors on Tuesday, May 23rd. Telsey Advisory Group analyst C. Fernandez now forecasts that the company will post earnings per share of $2.85 for the quarter, down from their previous forecast of $3.15. Telsey Advisory Group has a “Outperform” rating and a $80.00 price target on the stock. The consensus estimate for Hibbett’s current full-year earnings is $9.54 per share. Telsey Advisory Group also issued estimates for Hibbett’s Q2 2024 earnings at $1.33 EPS and Q4 2025 earnings at $3.25 EPS.

HIBB has been the topic of a number of other research reports. Jefferies Financial Group began coverage on shares of Hibbett in a research report on Tuesday, March 14th. They issued a “hold” rating and a $69.00 price target on the stock. Williams Trading downgraded shares of Hibbett from a “buy” rating to a “hold” rating in a research report on Sunday, May 21st. Benchmark reissued a “buy” rating and set a $80.00 target price on shares of Hibbett in a research note on Monday, March 6th. Robert W. Baird increased their target price on shares of Hibbett from $75.00 to $80.00 and gave the stock an “outperform” rating in a research note on Monday, March 6th. Finally, Bank of America increased their target price on shares of Hibbett from $75.00 to $85.00 and gave the stock a “buy” rating in a research note on Tuesday, March 7th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $78.80.

Hibbett Stock Performance

Shares of NASDAQ HIBB opened at $44.16 on Wednesday. The company has a market capitalization of $562.91 million, a P/E ratio of 4.60, a price-to-earnings-growth ratio of 0.39 and a beta of 1.58. Hibbett has a 52-week low of $42.12 and a 52-week high of $75.38. The company’s 50 day moving average price is $55.70 and its 200-day moving average price is $63.28.

Hibbett (NASDAQ:HIBB – Get Rating) last posted its earnings results on Friday, March 3rd. The company reported $2.91 EPS for the quarter, missing the consensus estimate of $2.96 by ($0.05). Hibbett had a return on equity of 38.15% and a net margin of 7.50%. The business had revenue of $458.30 million for the quarter, compared to analyst estimates of $476.57 million. During the same quarter in the prior year, the business earned $1.25 earnings per share. The firm’s quarterly revenue was up 19.6% on a year-over-year basis.

Institutional Trading of Hibbett

Institutional investors and hedge funds have recently made changes to their positions in the company. DekaBank Deutsche Girozentrale purchased a new stake in shares of Hibbett in the first quarter valued at about $32,000. Quarry LP raised its holdings in shares of Hibbett by 138.7% in the first quarter. Quarry LP now owns 678 shares of the company’s stock valued at $40,000 after purchasing an additional 394 shares during the last quarter. Coppell Advisory Solutions Corp. purchased a new stake in shares of Hibbett in the fourth quarter valued at about $47,000. Belpointe Asset Management LLC purchased a new stake in Hibbett during the fourth quarter worth about $50,000. Finally, Acadian Asset Management LLC purchased a new stake in Hibbett during the first quarter worth about $50,000. Hedge funds and other institutional investors own 97.94% of the company’s stock.

Insiders Place Their Bets

In other Hibbett news, Director Dorlisa K. Flur sold 714 shares of the company’s stock in a transaction on Monday, April 10th. The shares were sold at an average price of $60.00, for a total transaction of $42,840.00. Following the transaction, the director now owns 5,598 shares in the company, valued at $335,880. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, Director James A. Hilt sold 8,154 shares of the stock in a transaction dated Thursday, April 13th. The shares were sold at an average price of $61.18, for a total value of $498,861.72. Following the completion of the sale, the director now owns 2,380 shares in the company, valued at $145,608.40. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Dorlisa K. Flur sold 714 shares of the stock in a transaction dated Monday, April 10th. The shares were sold at an average price of $60.00, for a total transaction of $42,840.00. Following the completion of the sale, the director now owns 5,598 shares of the company’s stock, valued at approximately $335,880. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 14,473 shares of company stock worth $943,300. Insiders own 2.98% of the company’s stock.

Hibbett Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 28th. Shareholders of record on Thursday, March 16th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, March 15th. This represents a $1.00 annualized dividend and a yield of 2.26%. Hibbett’s payout ratio is 10.42%.

Hibbett Company Profile

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Hibbett, Inc engages in the provision of sporting goods business. Its stores are operating under the Hibbett Sporting Goods and City Gear banners and an omni-channel platform. The firm features a core selection of brand name merchandise emphasizing athletic footwear, athletic and fashion apparel, team sports equipment and related accessories.