Hibbett Sports (NASDAQ:HIBB) Announces Quarterly Earnings Results

Hibbett Sports (NASDAQ:HIBB) posted its earnings results on Friday. The company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.03, Morningstar.com reports. The company had revenue of $252.40 million for the quarter, compared to analyst estimates of $255.71 million. Hibbett Sports had a net margin of 3.19% and a return on equity of 12.28%. Hibbett Sports’s revenue was up 19.6% on a year-over-year basis. During the same period in the previous year, the business posted ($0.06) EPS. Hibbett Sports updated its FY 2020 guidance to $2.15-2.25 EPS and its FY20 guidance to $2.15-2.25 EPS.

Hibbett Sports stock opened at $15.16 on Friday. The company’s 50 day simple moving average is $17.81 and its 200-day simple moving average is $19.52. The company has a market capitalization of $303.96 million, a price-to-earnings ratio of 7.52, a price-to-earnings-growth ratio of 1.25 and a beta of 0.38. Hibbett Sports has a 1 year low of $13.08 and a 1 year high of $25.24. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.62 and a current ratio of 1.74.

Several research firms have weighed in on HIBB. BidaskClub lowered shares of Hibbett Sports from a “hold” rating to a “sell” rating in a report on Tuesday, August 20th. Bank of America boosted their target price on shares of Hibbett Sports from $18.00 to $20.00 and gave the company an “underperform” rating in a report on Monday, May 27th. Zacks Investment Research lowered shares of Hibbett Sports from a “strong-buy” rating to a “hold” rating and set a $21.00 target price on the stock. in a report on Monday, July 29th. Finally, Robert W. Baird boosted their target price on shares of Hibbett Sports to $26.00 and gave the company a “neutral” rating in a report on Friday, May 24th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $22.06.

Several institutional investors have recently added to or reduced their stakes in HIBB. Bank of America Corp DE raised its stake in shares of Hibbett Sports by 92.7% in the 4th quarter. Bank of America Corp DE now owns 87,442 shares of the company’s stock valued at $1,250,000 after acquiring an additional 42,061 shares during the period. Norges Bank purchased a new stake in shares of Hibbett Sports in the 4th quarter valued at approximately $582,000. BNP Paribas Arbitrage SA raised its stake in shares of Hibbett Sports by 22.2% in the 1st quarter. BNP Paribas Arbitrage SA now owns 12,237 shares of the company’s stock valued at $279,000 after acquiring an additional 2,226 shares during the period. Quantamental Technologies LLC raised its stake in shares of Hibbett Sports by 24.1% in the 1st quarter. Quantamental Technologies LLC now owns 6,079 shares of the company’s stock valued at $139,000 after acquiring an additional 1,179 shares during the period. Finally, Janney Montgomery Scott LLC purchased a new stake in shares of Hibbett Sports in the 1st quarter valued at approximately $393,000.

About Hibbett Sports

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. It operates approximately 1,100 stores under the Hibbett Sports and City Gear names primarily in small and mid-sized communities in the United States.

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Earnings History for Hibbett Sports (NASDAQ:HIBB)

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