$1.70 Billion in Sales Expected for Hanesbrands Inc. (NYSE:HBI) This Quarter

Wall Street analysts predict that Hanesbrands Inc. (NYSE:HBI – Get Rating) will post sales of $1.70 billion for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Hanesbrands’ earnings, with the highest sales estimate coming in at $1.71 billion and the lowest estimate coming in at $1.67 billion. Hanesbrands posted sales of $1.75 billion in the same quarter last year, which indicates a negative year over year growth rate of 2.9%. The firm is expected to report its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Hanesbrands will report full-year sales of $7.03 billion for the current financial year, with estimates ranging from $7.00 billion to $7.04 billion. For the next financial year, analysts expect that the company will report sales of $7.29 billion, with estimates ranging from $7.22 billion to $7.35 billion. Zacks’ sales averages are a mean average based on a survey of research firms that follow Hanesbrands.

Hanesbrands (NYSE:HBI – Get Rating) last issued its earnings results on Thursday, May 5th. The textile maker reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.06. The company had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.54 billion. Hanesbrands had a net margin of 6.68% and a return on equity of 93.47%. The firm’s revenue was up 4.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.39 EPS.

A number of equities analysts have issued reports on HBI shares. Zacks Investment Research upgraded shares of 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. Barclays decreased their price objective on shares of Hanesbrands from $20.00 to $18.00 in a research report on Tuesday, May 10th. Stifel Nicolaus decreased their price objective on shares of Hanesbrands from $13.00 to $11.00 in a research report on Wednesday, May 18th. Wells Fargo & Company decreased their price objective on shares of Hanesbrands from $20.00 to $18.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 5th. Finally, Credit Suisse Group lowered 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. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $18.00.

HBI stock opened at $11.63 on Tuesday. The firm’s 50-day moving average price is $13.95 and its two-hundred day moving average price is $15.49. Hanesbrands has a 12-month low of $11.35 and a 12-month high of $20.74. The stock has a market capitalization of $4.06 billion, a price-to-earnings ratio of 8.88 and a beta of 1.47. The company has a current ratio of 1.60, a quick ratio of 0.72 and a debt-to-equity ratio of 4.27.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 31st. Investors 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 5.16%. The ex-dividend date of this dividend is Monday, May 9th. Hanesbrands’s payout ratio is currently 45.80%.

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

In related news, CEO Stephen B. Bratspies bought 34,292 shares of the stock in a transaction that occurred on Thursday, February 24th. The shares were bought at an average cost of $14.63 per share, for a total transaction of $501,691.96. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.29% of the stock is currently owned by insiders.

Several hedge funds have recently bought and sold shares of HBI. Toroso Investments LLC boosted its stake in shares of Hanesbrands by 38.4% during the first quarter. Toroso Investments LLC now owns 51,925 shares of the textile maker’s stock valued at $773,000 after purchasing an additional 14,394 shares during the period. Keeley Teton Advisors LLC bought a new stake in shares of Hanesbrands in the first quarter valued at about $280,000. Wall Street Access Asset Management LLC raised its holdings in shares of Hanesbrands by 7.1% in the first quarter. Wall Street Access Asset Management LLC now owns 44,352 shares of the textile maker’s stock valued at $659,000 after acquiring an additional 2,945 shares in the last quarter. Continuum Advisory LLC bought a new stake in shares of Hanesbrands in the first quarter valued at about $325,000. Finally, KB Financial Partners LLC raised its holdings in shares of Hanesbrands by 14.1% in the first quarter. KB Financial Partners LLC now owns 19,534 shares of the textile maker’s stock valued at $291,000 after acquiring an additional 2,407 shares in the last quarter. 87.58% of the stock is owned by hedge funds and other institutional investors.

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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