Brokerages expect that Hanesbrands Inc. (NYSE:HBI) will announce sales of $1.86 billion for the current quarter, Zacks reports. Three analysts have issued estimates for Hanesbrands’ earnings. Hanesbrands posted sales of $1.85 billion during the same quarter last year, which would indicate a positive year over year growth rate of 0.5%. The company is scheduled to report its next earnings report on Thursday, November 7th.
On average, analysts expect that Hanesbrands will report full year sales of $6.93 billion for the current financial year, with estimates ranging from $6.89 billion to $6.96 billion. For the next fiscal year, analysts expect that the business will report sales of $6.93 billion, with estimates ranging from $6.74 billion to $7.20 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that follow Hanesbrands.
Hanesbrands (NYSE:HBI) last announced its quarterly earnings results on Thursday, August 1st. The textile maker reported $0.45 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.01. Hanesbrands had a return on equity of 63.57% and a net margin of 8.13%. The firm had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.75 billion. During the same period in the prior year, the business posted $0.45 earnings per share. The company’s revenue was up 2.7% on a year-over-year basis.
HBI has been the subject of several recent research reports. Zacks Investment Research cut Hanesbrands from a “hold” rating to a “sell” rating in a report on Thursday, April 25th. ValuEngine cut Hanesbrands from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 2nd. Bank of America cut their target price on Hanesbrands from $20.00 to $17.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Finally, Citigroup cut their target price on Hanesbrands from $19.00 to $16.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Two analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. Hanesbrands currently has a consensus rating of “Hold” and a consensus target price of $17.44.
In other news, insider Joia M. Johnson purchased 7,100 shares of the company’s stock in a transaction on Wednesday, August 14th. The shares were bought at an average price of $13.97 per share, for a total transaction of $99,187.00. Following the completion of the purchase, the insider now owns 115,830 shares of the company’s stock, valued at $1,618,145.10. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Gerald Evans purchased 10,000 shares of the company’s stock in a transaction on Wednesday, August 7th. The stock was purchased at an average price of $14.74 per share, for a total transaction of $147,400.00. Following the purchase, the chief executive officer now directly owns 1,655,880 shares of the company’s stock, valued at approximately $24,407,671.20. The disclosure for this purchase can be found here. 1.04% of the stock is currently owned by company insiders.
Several large investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP increased its stake in Hanesbrands by 12.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,674,276 shares of the textile maker’s stock worth $33,505,000 after acquiring an additional 300,681 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Hanesbrands by 7.6% during the fourth quarter. Geode Capital Management LLC now owns 4,784,175 shares of the textile maker’s stock worth $59,844,000 after buying an additional 335,912 shares during the period. Deutsche Bank AG boosted its position in shares of Hanesbrands by 33.7% during the fourth quarter. Deutsche Bank AG now owns 634,118 shares of the textile maker’s stock worth $7,942,000 after buying an additional 159,773 shares during the period. Retirement Systems of Alabama boosted its position in shares of Hanesbrands by 1.2% during the first quarter. Retirement Systems of Alabama now owns 168,296 shares of the textile maker’s stock worth $3,009,000 after buying an additional 2,049 shares during the period. Finally, Trilogy Capital Inc. purchased a new position in shares of Hanesbrands during the first quarter worth $679,000. Institutional investors own 91.41% of the company’s stock.
Shares of NYSE:HBI traded up $0.18 during midday trading on Wednesday, hitting $13.80. The company had a trading volume of 4,621,376 shares, compared to its average volume of 5,321,942. Hanesbrands has a twelve month low of $11.57 and a twelve month high of $19.38. The company has a debt-to-equity ratio of 3.56, a current ratio of 1.77 and a quick ratio of 0.69. The stock has a market cap of $4.92 billion, a price-to-earnings ratio of 8.07, a price-to-earnings-growth ratio of 1.71 and a beta of 1.10. The business’s 50-day simple moving average is $15.80 and its 200-day simple moving average is $17.06.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 4th. Shareholders of record on Tuesday, August 13th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Monday, August 12th. This represents a $0.60 annualized dividend and a dividend yield of 4.35%. Hanesbrands’s payout ratio is currently 35.09%.
Hanesbrands Company Profile
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.
Featured Article: Green Investing
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Hanesbrands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hanesbrands and related companies with MarketBeat.com's FREE daily email newsletter.