$1.88 Billion in Sales Expected for Hanesbrands Inc. (HBI) This Quarter

Equities analysts expect that Hanesbrands Inc. (NYSE:HBI) will post sales of $1.88 billion for the current quarter, according to Zacks. Four analysts have issued estimates for Hanesbrands’ earnings, with the highest sales estimate coming in at $1.89 billion and the lowest estimate coming in at $1.87 billion. Hanesbrands posted sales of $1.80 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 4.4%. The firm is scheduled to announce its next quarterly earnings report on Wednesday, November 7th.

On average, analysts expect that Hanesbrands will report full year sales of $6.77 billion for the current year, with estimates ranging from $6.75 billion to $6.79 billion. For the next year, analysts anticipate that the business will post sales of $6.86 billion, with estimates ranging from $6.78 billion to $6.92 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Hanesbrands.

Hanesbrands (NYSE:HBI) last posted its quarterly earnings results on Wednesday, August 1st. The textile maker reported $0.45 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.46 by ($0.01). The business had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.71 billion. Hanesbrands had a return on equity of 78.67% and a net margin of 0.58%. The business’s quarterly revenue was up 4.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.53 earnings per share.

Several equities analysts have recently weighed in on HBI shares. Buckingham Research decreased their price target on shares of Hanesbrands from $28.00 to $26.00 and set a “buy” rating on the stock in a research note on Thursday, August 16th. Zacks Investment Research raised shares of Hanesbrands from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a research note on Tuesday, July 24th. Barclays downgraded shares of Hanesbrands from an “overweight” rating to an “equal weight” rating and set a $22.00 price target on the stock. in a research note on Thursday, August 2nd. Macquarie decreased their price target on shares of Hanesbrands from $15.00 to $14.00 and set a “hold” rating on the stock in a research note on Thursday, August 23rd. Finally, Bank of America decreased their price target on shares of Hanesbrands from $24.00 to $20.00 and set a “hold” rating on the stock in a research note on Thursday, August 2nd. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $22.88.

A number of institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its position in Hanesbrands by 4.5% during the second quarter. BlackRock Inc. now owns 23,662,833 shares of the textile maker’s stock worth $521,053,000 after purchasing an additional 1,028,890 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in Hanesbrands by 1.4% during the second quarter. Massachusetts Financial Services Co. MA now owns 20,855,642 shares of the textile maker’s stock worth $459,242,000 after purchasing an additional 290,491 shares during the last quarter. Parnassus Investments CA increased its position in Hanesbrands by 11.5% during the second quarter. Parnassus Investments CA now owns 16,280,808 shares of the textile maker’s stock worth $358,503,000 after purchasing an additional 1,680,808 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its position in shares of Hanesbrands by 46.4% during the first quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 15,109,168 shares of the textile maker’s stock valued at $278,311,000 after acquiring an additional 4,785,830 shares during the last quarter. Finally, Cooke & Bieler LP increased its position in shares of Hanesbrands by 8.0% during the first quarter. Cooke & Bieler LP now owns 5,662,158 shares of the textile maker’s stock valued at $104,297,000 after acquiring an additional 418,003 shares during the last quarter. Hedge funds and other institutional investors own 99.58% of the company’s stock.

Shares of NYSE:HBI traded up $0.22 during midday trading on Monday, hitting $17.41. The company’s stock had a trading volume of 3,924,000 shares, compared to its average volume of 6,377,608. The company has a current ratio of 2.02, a quick ratio of 0.84 and a debt-to-equity ratio of 5.41. The company has a market cap of $6.64 billion, a P/E ratio of 9.06, a P/E/G ratio of 1.05 and a beta of 0.37. Hanesbrands has a 12-month low of $16.38 and a 12-month high of $24.12.

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 bras, panties, men's underwear, children's underwear, activewear, socks, hosiery, intimate apparel, shapewears, and 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.

Featured Story: Dividend Aristocrat Index

Get a free copy of the Zacks research report on Hanesbrands (HBI)

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.

Leave a Reply