Hanesbrands (NYSE:HBI) Releases Q2 Earnings Guidance

Hanesbrands (NYSE:HBI) updated its second quarter earnings guidance on Thursday. The company provided earnings per share guidance of $0.07-0.11 for the period, compared to the consensus earnings per share estimate of $0.10. The company issued revenue guidance of $1.335-1.375 billion, compared to the consensus revenue estimate of $1.34 billion. Hanesbrands also updated its FY24 guidance to $0.42-0.48 EPS.

Hanesbrands Stock Performance

NYSE:HBI opened at $4.45 on Thursday. The company has a quick ratio of 0.65, a current ratio of 1.64 and a debt-to-equity ratio of 7.72. Hanesbrands has a fifty-two week low of $3.54 and a fifty-two week high of $5.86. The firm’s fifty day simple moving average is $5.09 and its 200-day simple moving average is $4.54. The stock has a market cap of $1.56 billion, a PE ratio of -88.98 and a beta of 1.62.

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

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Citigroup boosted their price objective on shares of Hanesbrands from $4.50 to $5.50 and gave the stock a neutral rating in a research report on Wednesday, April 3rd. Wedbush increased their price target 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.