Analysts Expect Hibbett Sports, Inc. (HIBB) Will Post Quarterly Sales of $299.30 Million

Analysts predict that Hibbett Sports, Inc. (NASDAQ:HIBB) will report sales of $299.30 million for the current quarter, according to Zacks. Two analysts have made estimates for Hibbett Sports’ earnings, with the highest sales estimate coming in at $319.90 million and the lowest estimate coming in at $278.70 million. Hibbett Sports reported sales of $266.74 million in the same quarter last year, which indicates a positive year-over-year growth rate of 12.2%. The company is scheduled to issue its next earnings report on Friday, March 15th.

On average, analysts expect that Hibbett Sports will report full year sales of $1.00 billion for the current fiscal year, with estimates ranging from $981.50 million to $1.02 billion. For the next financial year, analysts anticipate that the company will post sales of $1.13 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover Hibbett Sports.

Hibbett Sports (NASDAQ:HIBB) last issued its quarterly earnings results on Tuesday, November 27th. The company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.02). The company had revenue of $216.89 million during the quarter, compared to analyst estimates of $217.56 million. Hibbett Sports had a return on equity of 9.45% and a net margin of 3.25%. The company’s revenue was down 8.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.37 earnings per share.

A number of analysts have recently weighed in on the stock. Bank of America reaffirmed an “underperform” rating and issued a $15.00 price target (down from $18.00) on shares of Hibbett Sports in a research note on Friday, November 30th. Zacks Investment Research raised shares of Hibbett Sports from a “sell” rating to a “hold” rating in a research note on Friday, November 30th. ValuEngine lowered shares of Hibbett Sports from a “sell” rating to a “strong sell” rating in a research note on Friday, November 30th. Canaccord Genuity set a $20.00 price target on shares of Hibbett Sports and gave the stock a “hold” rating in a research note on Wednesday, November 28th. Finally, BidaskClub lowered shares of Hibbett Sports from a “buy” rating to a “hold” rating in a research note on Saturday, November 17th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $21.30.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HIBB. Millennium Management LLC raised its holdings in shares of Hibbett Sports by 2,591.2% in the 2nd quarter. Millennium Management LLC now owns 415,043 shares of the company’s stock worth $9,504,000 after purchasing an additional 399,621 shares in the last quarter. Canada Pension Plan Investment Board raised its holdings in shares of Hibbett Sports by 170.6% in the 3rd quarter. Canada Pension Plan Investment Board now owns 526,400 shares of the company’s stock worth $9,896,000 after purchasing an additional 331,900 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of Hibbett Sports by 162.5% in the 3rd quarter. AQR Capital Management LLC now owns 451,308 shares of the company’s stock worth $8,485,000 after purchasing an additional 279,353 shares in the last quarter. Renaissance Technologies LLC bought a new stake in shares of Hibbett Sports in the 2nd quarter worth approximately $6,272,000. Finally, American Century Companies Inc. bought a new stake in shares of Hibbett Sports in the 2nd quarter worth approximately $5,533,000.

Shares of NASDAQ:HIBB opened at $15.72 on Friday. The company has a market capitalization of $288.92 million, a PE ratio of 9.64, a P/E/G ratio of 1.22 and a beta of 0.56. Hibbett Sports has a twelve month low of $14.86 and a twelve month high of $29.60. The company has a quick ratio of 1.10, a current ratio of 3.06 and a debt-to-equity ratio of 0.08.

Hibbett Sports Company Profile

Hibbett Sports, Inc, together with its subsidiaries, operates athletic specialty stores. Its stores offer a range of merchandise, including athletic footwear, athletic and fashion apparel, sports equipment, and related accessories. The company also operates Hibbett.com, an e-commerce Website. As of March 28, 2018, it operated approximately 1,000 stores primarily in small and mid-sized communities in the United States.

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