Hanesbrands (NYSE:HBI) Releases Q2 2024 Earnings Guidance

Hanesbrands (NYSE:HBI) issued an update on its second quarter 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 0.070-0.110 for the period, compared to the consensus estimate of 0.100. The company issued revenue guidance of $1.3 billion-$1.4 billion, compared to the consensus revenue estimate of $1.3 billion. Hanesbrands also updated its FY 2024 guidance to 0.420-0.480 EPS.

Hanesbrands Stock Up 1.8 %

Shares of HBI opened at $4.54 on Thursday. Hanesbrands has a 52 week low of $3.54 and a 52 week high of $5.86. The stock has a market capitalization of $1.60 billion, a price-to-earnings ratio of -88.98 and a beta of 1.62. The company has a debt-to-equity ratio of 7.72, a quick ratio of 0.65 and a current ratio of 1.64. The stock has a fifty day moving average of $5.09 and a 200-day moving average of $4.54.

Hanesbrands (NYSE:HBI) last announced its earnings results on Thursday, May 9th. The textile maker reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.04. The business had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.19 billion. Hanesbrands had a positive return on equity of 5.84% and a negative net margin of 0.31%. Hanesbrands’s revenue for the quarter was down 16.8% compared to the same quarter last year. During the same period last year, the company earned ($0.06) EPS. As a group, sell-side analysts anticipate that Hanesbrands will post 0.44 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

HBI has been the subject of several research analyst reports. Citigroup lifted their price objective on Hanesbrands from $4.50 to $5.50 and gave the stock a neutral rating in a research report on Wednesday, April 3rd. Wedbush boosted their target price on shares of Hanesbrands from $4.50 to $5.00 and gave the company a neutral rating in a research report on Wednesday, April 3rd.

Hanesbrands Company Profile

Hanesbrands Inc, a consumer goods company, designs, manufactures, sources, and sells a range of range of innerwear apparels for men, women, and children in the Americas, Europe, the Asia pacific, and internationally. The company operates through three segments: Innerwear, Activewear, and International.