Hibbett Sports (HIBB) Expected to Announce Earnings of $1.13 Per Share

Wall Street analysts expect that Hibbett Sports (NASDAQ:HIBB) will post earnings of $1.13 per share for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Hibbett Sports’ earnings, with the lowest EPS estimate coming in at $1.06 and the highest estimate coming in at $1.21. Hibbett Sports reported earnings per share of $0.97 during the same quarter last year, which would indicate a positive year-over-year growth rate of 16.5%. The business is expected to issue its next quarterly earnings results on Thursday, May 17th.

According to Zacks, analysts expect that Hibbett Sports will report full year earnings of $1.91 per share for the current fiscal year, with EPS estimates ranging from $1.80 to $2.15. For the next fiscal year, analysts anticipate that the business will report earnings of $2.06 per share, with EPS estimates ranging from $1.90 to $2.23. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that cover Hibbett Sports.

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Hibbett Sports (NASDAQ:HIBB) last announced its quarterly earnings data on Friday, March 16th. The company reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.15. Hibbett Sports had a return on equity of 10.37% and a net margin of 3.62%. The business had revenue of $266.70 million during the quarter, compared to analysts’ expectations of $261.37 million. During the same period in the previous year, the firm earned $0.54 earnings per share. The firm’s quarterly revenue was up 8.0% compared to the same quarter last year.

A number of research firms have issued reports on HIBB. Canaccord Genuity raised Hibbett Sports from a “hold” rating to a “buy” rating and set a $11.00 target price for the company in a research note on Monday, January 8th. Stephens reissued a “hold” rating and issued a $22.00 target price on shares of Hibbett Sports in a research note on Monday, February 26th. Consumer Edge raised Hibbett Sports from a “neutral” rating to an “outperform” rating in a research note on Wednesday, February 7th. ValuEngine raised Hibbett Sports from a “hold” rating to a “buy” rating in a research note on Wednesday, March 7th. Finally, Credit Suisse Group boosted their target price on Hibbett Sports from $13.50 to $16.50 and gave the company a “sell” rating in a research note on Monday, March 19th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $22.30.

In other news, VP Cathy E. Pryor sold 6,500 shares of the business’s stock in a transaction dated Thursday, March 22nd. The stock was sold at an average price of $22.58, for a total value of $146,770.00. Following the sale, the vice president now directly owns 13,300 shares in the company, valued at $300,314. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.60% of the company’s stock.

Several institutional investors have recently modified their holdings of HIBB. Hotchkis & Wiley Capital Management LLC bought a new stake in Hibbett Sports during the third quarter worth about $143,000. MetLife Investment Advisors LLC bought a new stake in Hibbett Sports during the fourth quarter worth about $208,000. Cornerstone Capital Management Holdings LLC. bought a new stake in Hibbett Sports during the fourth quarter worth about $257,000. Macquarie Group Ltd. bought a new stake in Hibbett Sports during the third quarter worth about $204,000. Finally, Aperio Group LLC raised its holdings in Hibbett Sports by 26.8% during the fourth quarter. Aperio Group LLC now owns 15,899 shares of the company’s stock worth $324,000 after acquiring an additional 3,364 shares in the last quarter.

NASDAQ:HIBB traded up $0.30 on Monday, reaching $24.25. The company’s stock had a trading volume of 826,261 shares, compared to its average volume of 824,795. Hibbett Sports has a 1-year low of $9.40 and a 1-year high of $29.55. The stock has a market cap of $491.93, a price-to-earnings ratio of 14.57, a PEG ratio of 1.55 and a beta of 0.84.

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About Hibbett Sports

Hibbett Sports, Inc, together with its subsidiaries, operates athletic specialty stores in small and mid-sized markets primarily in the South, Southwest, Mid-Atlantic, and the Midwest regions of the United States. Its stores offer a range of merchandise, including athletic footwear, team sports equipment, athletic and fashion apparel, and related accessories.

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Earnings History and Estimates for Hibbett Sports (NASDAQ:HIBB)

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