Hanesbrands (NYSE:HBI) Updates Q2 2022 Earnings Guidance

Hanesbrands (NYSE:HBIGet Rating) updated its second quarter 2022 earnings guidance on Monday. The company provided earnings per share guidance of $0.32-$0.36 for the period, compared to the consensus earnings per share estimate of $0.42. The company issued revenue guidance of $1.68 billion-$1.73 billion, compared to the consensus revenue estimate of $1.79 billion.Hanesbrands also updated its FY 2022 guidance to $1.64-$1.81 EPS.

A number of equities research analysts recently weighed in on the company. StockNews.com assumed coverage on Hanesbrands in a report on Thursday, March 31st. They set a hold rating for the company. Wells Fargo & Company decreased their price objective on Hanesbrands from $20.00 to $18.00 and set an overweight rating on the stock in a research report on Tuesday, April 5th. Zacks Investment Research upgraded Hanesbrands from a sell rating to a hold rating and set a $16.00 price objective on the stock in a research report on Thursday, March 17th. Credit Suisse Group decreased their price objective on Hanesbrands from $26.00 to $23.00 and set an outperform rating on the stock in a research report on Friday, February 4th. Finally, Citigroup decreased their price objective on Hanesbrands from $17.00 to $14.00 in a research report on Friday. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Hanesbrands currently has a consensus rating of Hold and an average price target of $19.11.

HBI stock traded up $0.06 during midday trading on Monday, hitting $12.66. 554,671 shares of the company’s stock were exchanged, compared to its average volume of 5,024,026. The stock’s fifty day moving average is $14.62. The company has a debt-to-equity ratio of 4.27, a quick ratio of 0.84 and a current ratio of 1.60. The company has a market cap of $4.41 billion, a P/E ratio of 9.69 and a beta of 1.47. Hanesbrands has a one year low of $12.20 and a one year high of $22.82.

Hanesbrands (NYSE:HBIGet Rating) last posted its earnings results on Thursday, May 5th. The textile maker reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.06. The firm had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.54 billion. Hanesbrands had a return on equity of 93.47% and a net margin of 6.68%. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.39 earnings per share. On average, analysts predict that Hanesbrands will post 1.68 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 31st. Shareholders of record on Tuesday, May 10th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 4.74%. The ex-dividend date of this dividend is Monday, May 9th. Hanesbrands’s dividend payout ratio is 45.80%.

Hanesbrands announced that its board has initiated a stock buyback plan on Thursday, February 3rd that permits the company to repurchase $600.00 million in outstanding shares. This repurchase authorization permits the textile maker to reacquire up to 10.8% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

In related news, Director Cheryl K. Beebe bought 6,250 shares of the stock in a transaction that occurred on Tuesday, February 8th. The shares were acquired at an average price of $15.61 per share, with a total value of $97,562.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Stephen B. Bratspies bought 34,292 shares of the stock in a transaction that occurred on Thursday, February 24th. The stock was bought at an average cost of $14.63 per share, for a total transaction of $501,691.96. The disclosure for this purchase can be found here. Company insiders own 0.29% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the stock. Neo Ivy Capital Management increased its position in shares of Hanesbrands by 19.3% in the fourth quarter. Neo Ivy Capital Management now owns 4,215 shares of the textile maker’s stock valued at $70,000 after acquiring an additional 681 shares during the last quarter. Canada Pension Plan Investment Board grew its holdings in Hanesbrands by 42.4% during the fourth quarter. Canada Pension Plan Investment Board now owns 3,530 shares of the textile maker’s stock worth $59,000 after purchasing an additional 1,051 shares during the period. NewEdge Advisors LLC grew its holdings in Hanesbrands by 18.3% during the fourth quarter. NewEdge Advisors LLC now owns 32,096 shares of the textile maker’s stock worth $537,000 after purchasing an additional 4,958 shares during the period. Legal & General Group Plc grew its holdings in Hanesbrands by 0.6% during the fourth quarter. Legal & General Group Plc now owns 871,639 shares of the textile maker’s stock worth $14,574,000 after purchasing an additional 5,429 shares during the period. Finally, MML Investors Services LLC grew its holdings in Hanesbrands by 14.8% during the fourth quarter. MML Investors Services LLC now owns 54,339 shares of the textile maker’s stock worth $909,000 after purchasing an additional 7,015 shares during the period. 87.58% of the stock is currently owned by institutional investors and hedge funds.

Hanesbrands Company Profile (Get Rating)

Hanesbrands Inc, a consumer goods company, designs, manufactures, sources, and sells a range of basic apparel for men, women, and children. The company operates through three segments: Innerwear, Activewear, and International. It sells men's underwear, women's panties, children's underwear, activewear, and socks, as well as intimate apparel, such as bras and shapewears; home goods; and T-shirts, fleece, performance apparel, sport shirts, performance T-shirts and shorts, sports bras, teamwear, and thermals, as well as licensed logo apparel in collegiate bookstores, mass retailers, and other channels.

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Earnings History and Estimates for Hanesbrands (NYSE:HBI)

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