Hanesbrands (NYSE:HBI) Issues FY 2021 Earnings Guidance

Hanesbrands (NYSE:HBI) updated its FY 2021 earnings guidance on Tuesday. The company provided EPS guidance of $1.510-1.590 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.610. The company issued revenue guidance of $6.20 billion-6.30 billion, compared to the consensus revenue estimate of $6.72 billion.Hanesbrands also updated its Q2 2021 guidance to $0.370-0.400 EPS.

Several brokerages recently weighed in on HBI. TheStreet upgraded shares of Hanesbrands from a c rating to a b rating in a research report on Tuesday, May 11th. Wells Fargo & Company raised shares of Hanesbrands from an underweight rating to an equal weight rating and set a $20.00 price objective for the company in a research note on Wednesday, May 12th. Zacks Investment Research raised shares of Hanesbrands from a sell rating to a hold rating and set a $20.00 price objective for the company in a research note on Thursday, February 11th. Finally, Stifel Nicolaus raised shares of Hanesbrands from a hold rating to a buy rating and lifted their price objective for the stock from $18.00 to $25.00 in a research note on Wednesday, May 12th. Four analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Hanesbrands currently has an average rating of Buy and an average price target of $20.11.

Shares of HBI stock traded up $0.06 on Friday, hitting $19.12. The stock had a trading volume of 10,619 shares, compared to its average volume of 4,902,655. The company has a debt-to-equity ratio of 7.53, a quick ratio of 0.90 and a current ratio of 1.64. The business has a 50 day moving average price of $20.09. The company has a market capitalization of $6.68 billion, a P/E ratio of -20.06, a PEG ratio of 1.46 and a beta of 1.53. Hanesbrands has a one year low of $10.27 and a one year high of $22.82.

Hanesbrands (NYSE:HBI) last released its quarterly earnings data on Tuesday, May 11th. The textile maker reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.13. The firm had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.50 billion. Hanesbrands had a positive return on equity of 71.51% and a negative net margin of 4.83%. The firm’s quarterly revenue was up 25.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.05 earnings per share. On average, research analysts predict that Hanesbrands will post 1.58 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 1st. Stockholders of record on Friday, May 21st were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Thursday, May 20th. This represents a $0.60 annualized dividend and a dividend yield of 3.14%. Hanesbrands’s dividend payout ratio (DPR) is currently 41.38%.

In related news, Director Cheryl K. Beebe acquired 5,000 shares of the business’s stock in a transaction dated Thursday, May 13th. The shares were purchased at an average price of $19.17 per share, for a total transaction of $95,850.00. Following the completion of the acquisition, the director now directly owns 14,603 shares in the company, valued at approximately $279,939.51. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Joseph W. Cavaliere acquired 13,675 shares of the business’s stock in a transaction dated Thursday, May 13th. The shares were bought at an average price of $18.76 per share, for a total transaction of $256,543.00. Following the acquisition, the insider now owns 77,884 shares of the company’s stock, valued at $1,461,103.84. The disclosure for this purchase can be found here. Corporate insiders own 0.82% of the company’s stock.

About Hanesbrands

Hanesbrands Inc, a consumer goods company, designs, manufactures, sources, and sells a range of basic apparel for men, women, and children in the United States. The company operates through three segments: Innerwear, Activewear, and International. It sells men's underwear, women's panties, children's underwear, activewear, and socks, as well as intimate apparel, such as bras and shapewears; home goods; and T-shirts, fleece, sport shirts, performance T-shirts and shorts, sports bras, and thermals, as well as licensed logo apparel in collegiate bookstores, mass retailers, and other channels.

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