Hibbett, Inc. (NASDAQ:HIBB) Expected to Post Q1 2023 Earnings of $3.24 Per Share

Hibbett, Inc. (NASDAQ:HIBBGet Rating) – Stock analysts at Telsey Advisory Group reduced their Q1 2023 earnings per share (EPS) estimates for shares of Hibbett in a research report issued on Tuesday, May 24th. Telsey Advisory Group analyst C. Fernandez now expects that the company will earn $3.24 per share for the quarter, down from their prior forecast of $3.56. Telsey Advisory Group currently has a “Outperform” rating and a $65.00 target price on the stock. Telsey Advisory Group also issued estimates for Hibbett’s Q2 2023 earnings at $2.38 EPS, Q3 2023 earnings at $1.96 EPS, Q4 2023 earnings at $1.77 EPS, FY2023 earnings at $9.40 EPS, Q1 2024 earnings at $3.60 EPS, Q2 2024 earnings at $2.53 EPS, Q3 2024 earnings at $2.05 EPS, Q4 2024 earnings at $1.76 EPS and Q4 2024 earnings at $1.76 EPS.

Hibbett (NASDAQ:HIBBGet Rating) last issued its quarterly earnings results on Friday, March 4th. The company reported $1.25 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.25. The company had revenue of $383.35 million during the quarter, compared to analyst estimates of $383.87 million. Hibbett had a net margin of 10.31% and a return on equity of 48.53%. Hibbett’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.40 EPS.

Several other equities research analysts have also issued reports on HIBB. Robert W. Baird dropped their price target on Hibbett from $100.00 to $75.00 and set an “outperform” rating for the company in a research note on Monday, February 21st. Zacks Investment Research raised Hibbett from a “hold” rating to a “strong-buy” rating and set a $71.00 price target for the company in a research report on Tuesday, February 1st. StockNews.com began coverage on shares of Hibbett in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Monness Crespi & Hardt lowered their target price on shares of Hibbett from $120.00 to $80.00 and set a “buy” rating for the company in a report on Tuesday, February 22nd. Finally, Benchmark dropped their price target on shares of Hibbett from $125.00 to $80.00 and set a “buy” rating on the stock in a research note on Monday, March 7th. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $76.50.

Shares of NASDAQ HIBB opened at $41.57 on Wednesday. The company has a market cap of $546.19 million, a P/E ratio of 3.85, a P/E/G ratio of 1.12 and a beta of 1.89. Hibbett has a 52 week low of $39.58 and a 52 week high of $101.65. The business has a 50-day simple moving average of $45.05 and a two-hundred day simple moving average of $58.88.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 29th. Stockholders of record on Thursday, March 17th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date of this dividend was Wednesday, March 16th. Hibbett’s dividend payout ratio (DPR) is 9.27%.

A number of hedge funds have recently bought and sold shares of the business. CWM LLC purchased a new stake in Hibbett in the 4th quarter worth $35,000. Comerica Bank lifted its position in shares of Hibbett by 58.6% in the third quarter. Comerica Bank now owns 24,139 shares of the company’s stock worth $1,959,000 after buying an additional 8,919 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in Hibbett during the fourth quarter valued at approximately $1,536,000. Legend Financial Advisors Inc. bought a new position in Hibbett during the third quarter valued at approximately $744,000. Finally, Quantedge Capital Pte Ltd grew its holdings in Hibbett by 28.2% during the 4th quarter. Quantedge Capital Pte Ltd now owns 10,900 shares of the company’s stock valued at $784,000 after buying an additional 2,400 shares in the last quarter. Institutional investors and hedge funds own 91.79% of the company’s stock.

Hibbett Company Profile (Get Rating)

Hibbett, Inc together with its subsidiaries, engages in the retail of athletic-inspired fashion products in small and mid-sized communities in the United States. Its stores offer a range of merchandise, including athletic footwear, athletic and fashion apparel, team sports equipment, and related accessories.

Further Reading

Earnings History and Estimates for Hibbett (NASDAQ:HIBB)

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