Q2 2022 EPS Estimates for Hanesbrands Inc. Decreased by B. Riley (NYSE:HBI)

Hanesbrands Inc. (NYSE:HBI – Get Rating) – Equities research analysts at B. Riley reduced their Q2 2022 earnings estimates for shares of Hanesbrands in a research report issued on Friday, May 6th. B. Riley analyst S. Anderson now forecasts that the textile maker will earn $0.34 per share for the quarter, down from their prior forecast of $0.40. B. Riley also issued estimates for Hanesbrands’ Q3 2022 earnings at $0.54 EPS, FY2022 earnings at $1.68 EPS and FY2023 earnings at $1.94 EPS.

Hanesbrands (NYSE:HBI – Get Rating) last posted its quarterly earnings results on Thursday, May 5th. The textile maker reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.06. The firm had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.54 billion. Hanesbrands had a net margin of 6.68% and a return on equity of 93.47%. The company’s revenue was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.39 earnings per share.

Other equities research analysts have also issued reports about the stock. Citigroup lowered their target price on shares of Hanesbrands from $17.00 to $14.00 in a research note on Friday. Zacks Investment Research upgraded shares of Hanesbrands from a “sell” rating to a “hold” rating and set a $16.00 price target for the company in a report on Thursday, March 17th. StockNews.com began coverage on shares of Hanesbrands in a research report on Thursday, March 31st. They set a “hold” rating for the company. Stifel Nicolaus cut shares of Hanesbrands from a “buy” rating to a “hold” rating and decreased their price target for the company from $26.00 to $13.00 in a research report on Thursday. Finally, Wells Fargo & Company decreased their price target on shares of Hanesbrands from $20.00 to $18.00 and set an “overweight” rating for the company in a research report on Tuesday, April 5th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $19.11.

Shares of HBI opened at $12.60 on Monday. The stock has a market capitalization of $4.39 billion, a price-to-earnings ratio of 9.62 and a beta of 1.47. The company has a quick ratio of 0.84, a current ratio of 1.60 and a debt-to-equity ratio of 4.27. Hanesbrands has a 1-year low of $12.20 and a 1-year high of $22.82. The firm’s fifty day moving average is $14.62.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 31st. Stockholders of record on Tuesday, May 10th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 4.76%. The ex-dividend date of this dividend is Monday, May 9th. Hanesbrands’s payout ratio is 45.80%.

Hanesbrands declared that its Board of Directors has authorized a stock repurchase plan on Thursday, February 3rd that allows the company to buyback $600.00 million in outstanding shares. This buyback authorization allows the textile maker to buy up to 10.8% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its shares are undervalued.

In other Hanesbrands news, Director Cheryl K. Beebe purchased 6,250 shares of Hanesbrands stock in a transaction on Tuesday, February 8th. The shares were bought at an average price of $15.61 per share, with a total value of $97,562.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Stephen B. Bratspies acquired 34,292 shares of the business’s stock in a transaction dated Thursday, February 24th. The stock was purchased at an average cost 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 insiders.

Several hedge funds have recently made changes to their positions in the company. FSB Premier Wealth Management Inc. acquired a new stake in shares of Hanesbrands during the fourth quarter worth $28,000. CWM LLC acquired a new position in shares of Hanesbrands in the fourth quarter worth about $38,000. Acadian Asset Management LLC boosted its holdings in shares of Hanesbrands by 109.5% in the fourth quarter. Acadian Asset Management LLC now owns 2,715 shares of the textile maker’s stock worth $44,000 after buying an additional 1,419 shares during the period. Quent Capital LLC purchased a new stake in shares of Hanesbrands in the fourth quarter worth approximately $44,000. Finally, Daiwa Securities Group Inc. lifted its position in shares of Hanesbrands by 35.0% in the third quarter. Daiwa Securities Group Inc. now owns 2,735 shares of the textile maker’s stock worth $47,000 after purchasing an additional 709 shares in the last quarter. Institutional investors and hedge funds own 87.58% of the company’s stock.

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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