Brokers Set Expectations for Hibbett, Inc.’s Q1 2024 Earnings (NASDAQ:HIBB)

Hibbett, Inc. (NASDAQ:HIBB – Get Rating) – Investment analysts at Jefferies Financial Group issued their Q1 2024 earnings per share estimates for shares of Hibbett in a report issued on Tuesday, March 14th. Jefferies Financial Group analyst A. Glaessgen forecasts that the company will post earnings per share of $3.17 for the quarter. Jefferies Financial Group has a “Hold” rating and a $69.00 price objective on the stock. The consensus estimate for Hibbett’s current full-year earnings is $9.64 per share. Jefferies Financial Group also issued estimates for Hibbett’s Q2 2024 earnings at $1.75 EPS, Q3 2024 earnings at $1.62 EPS, Q4 2024 earnings at $3.00 EPS, FY2024 earnings at $9.55 EPS, Q1 2025 earnings at $3.50 EPS, Q2 2025 earnings at $1.95 EPS, Q3 2025 earnings at $1.81 EPS, Q4 2025 earnings at $3.25 EPS and FY2025 earnings at $10.50 EPS.

Several other analysts have also recently issued reports on the company. Bank of America increased their target price on Hibbett from $75.00 to $85.00 and gave the company a “buy” rating in a research report on Tuesday, March 7th. Telsey Advisory Group reiterated an “outperform” rating and set a $80.00 price objective on shares of Hibbett in a report on Monday, March 6th. TheStreet upgraded Hibbett from a “c+” rating to a “b-” rating in a report on Tuesday, December 13th. Robert W. Baird increased their price objective on Hibbett from $75.00 to $80.00 and gave the company an “outperform” rating in a report on Monday, March 6th. Finally, StockNews.com assumed coverage on Hibbett in a report on Thursday. They set a “hold” rating for the company. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Hibbett currently has an average rating of “Moderate Buy” and a consensus target price of $78.80.

Hibbett Trading Up 1.6 %

Shares of NASDAQ HIBB opened at $63.44 on Thursday. The stock has a market capitalization of $807.59 million, a PE ratio of 6.61, a price-to-earnings-growth ratio of 0.53 and a beta of 1.63. The stock’s fifty day simple moving average is $68.86 and its two-hundred day simple moving average is $63.89. Hibbett has a 12-month low of $39.58 and a 12-month high of $75.38.

Hibbett (NASDAQ:HIBB – Get Rating) last announced its earnings results on Friday, March 3rd. The company reported $2.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.96 by ($0.05). The company had revenue of $458.30 million for the quarter, compared to the consensus estimate of $476.57 million. Hibbett had a net margin of 7.50% and a return on equity of 38.15%. The firm’s revenue was up 19.6% compared to the same quarter last year. During the same period last year, the business posted $1.25 EPS.

Hibbett Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 28th. Investors of record on Thursday, March 16th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, March 15th. This represents a $1.00 dividend on an annualized basis and a yield of 1.58%. Hibbett’s dividend payout ratio (DPR) is 10.42%.

Insider Buying and Selling

In related news, Director Terrance G. Finley sold 5,605 shares of the firm’s stock in a transaction on Tuesday, March 7th. The stock was sold at an average price of $71.65, for a total value of $401,598.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Hibbett

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Natixis acquired a new stake in Hibbett during the 4th quarter worth about $1,337,000. Macquarie Group Ltd. grew its position in Hibbett by 1.6% during the 4th quarter. Macquarie Group Ltd. now owns 525,106 shares of the company’s stock worth $35,823,000 after purchasing an additional 8,018 shares during the period. Truist Financial Corp acquired a new stake in Hibbett during the 4th quarter worth about $478,000. Coppell Advisory Solutions Corp. acquired a new stake in Hibbett during the 4th quarter worth about $47,000. Finally, Alliancebernstein L.P. grew its position in Hibbett by 12.0% during the 4th quarter. Alliancebernstein L.P. now owns 17,645 shares of the company’s stock worth $1,204,000 after purchasing an additional 1,892 shares during the period. 97.94% of the stock is owned by institutional investors and hedge funds.

About Hibbett

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Hibbett, Inc engages in the provision of sporting goods business. Its stores are operating under the Hibbett Sporting Goods and City Gear banners and an omni-channel platform. The firm features a core selection of brand name merchandise emphasizing athletic footwear, athletic and fashion apparel, team sports equipment and related accessories.