Brokerages Expect Hanesbrands Inc. (NYSE:HBI) Will Post Quarterly Sales of $1.54 Billion

Wall Street analysts expect Hanesbrands Inc. (NYSE:HBIGet Rating) to announce $1.54 billion in sales for the current fiscal quarter, Zacks reports. Four analysts have made estimates for Hanesbrands’ earnings, with the highest sales estimate coming in at $1.55 billion and the lowest estimate coming in at $1.53 billion. Hanesbrands posted sales of $1.51 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 2%. The company is scheduled to report its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that Hanesbrands will report full-year sales of $7.04 billion for the current financial year, with estimates ranging from $7.01 billion to $7.07 billion. For the next fiscal year, analysts forecast that the business will report sales of $7.35 billion, with estimates ranging from $7.30 billion to $7.47 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover Hanesbrands.

Hanesbrands (NYSE:HBIGet Rating) last announced its earnings results on Thursday, February 3rd. The textile maker reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. Hanesbrands had a return on equity of 108.10% and a net margin of 1.14%. The firm had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.75 billion. During the same quarter last year, the firm posted $0.38 EPS. The business’s revenue was up 3.7% on a year-over-year basis.

A number of research analysts have recently issued reports on HBI shares. Zacks Investment Research upgraded Hanesbrands from a “sell” rating to a “hold” rating and set a $16.00 target price on the stock in a research report on Thursday, March 17th. StockNews.com assumed coverage on Hanesbrands in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Wells Fargo & Company reduced their price objective on Hanesbrands from $20.00 to $18.00 and set an “overweight” rating for the company in a research note on Tuesday, April 5th. Finally, Credit Suisse Group reduced their price objective on Hanesbrands from $26.00 to $23.00 and set an “outperform” rating for the company in a research note on Friday, February 4th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $21.25.

In other Hanesbrands news, Director Cheryl K. Beebe purchased 6,250 shares of the stock in a transaction dated Tuesday, February 8th. The stock was acquired at an average cost of $15.61 per share, for a total transaction of $97,562.50. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Stephen B. Bratspies purchased 34,292 shares of the stock in a transaction dated Thursday, February 24th. The shares were acquired at an average price of $14.63 per share, with a total value of $501,691.96. The disclosure for this purchase can be found here. 0.29% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Captrust Financial Advisors grew its holdings in shares of Hanesbrands by 393.6% during the 3rd quarter. Captrust Financial Advisors now owns 81,073 shares of the textile maker’s stock worth $1,391,000 after purchasing an additional 64,647 shares during the period. Allspring Global Investments Holdings LLC purchased a new position in Hanesbrands during the 4th quarter valued at about $5,484,000. PNC Financial Services Group Inc. boosted its holdings in Hanesbrands by 10.3% during the 3rd quarter. PNC Financial Services Group Inc. now owns 138,527 shares of the textile maker’s stock valued at $2,376,000 after acquiring an additional 12,926 shares during the period. Yousif Capital Management LLC purchased a new position in Hanesbrands during the 4th quarter valued at about $3,208,000. Finally, Jump Financial LLC purchased a new position in Hanesbrands during the 3rd quarter valued at about $837,000. Institutional investors and hedge funds own 89.16% of the company’s stock.

Shares of NYSE:HBI traded down $0.04 during midday trading on Wednesday, reaching $14.08. 2,703,715 shares of the company’s stock traded hands, compared to its average volume of 4,533,505. Hanesbrands has a 1 year low of $13.71 and a 1 year high of $22.82. The company has a market cap of $4.91 billion, a P/E ratio of 64.00 and a beta of 1.49. The company has a debt-to-equity ratio of 4.73, a quick ratio of 0.84 and a current ratio of 1.52. The company has a fifty day simple moving average of $15.13 and a two-hundred day simple moving average of $16.29.

Hanesbrands announced that its Board of Directors has initiated a share repurchase program on Thursday, February 3rd that authorizes the company to repurchase $600.00 million in shares. This repurchase authorization authorizes the textile maker to repurchase up to 10.8% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 8th. Shareholders of record on Tuesday, February 15th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.26%. The ex-dividend date of this dividend was Monday, February 14th. Hanesbrands’s dividend payout ratio (DPR) is presently 272.73%.

About Hanesbrands (Get Rating)

Hanesbrands, Inc is a consumer goods company, which engages in the design, manufacture, sourcing, and sale of everyday basic innerwear and activewear apparel in the Americas, Europe, Australia and Asia Pacific. It operates through the following three segments: Innerwear, Activewear, and International.

Read More

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

Earnings History and Estimates for Hanesbrands (NYSE:HBI)

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.