Hanesbrands Inc. (NYSE:HBI) Expected to Post Earnings of $0.54 Per Share

Wall Street analysts expect Hanesbrands Inc. (NYSE:HBI) to report earnings of $0.54 per share for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Hanesbrands’ earnings, with estimates ranging from $0.54 to $0.55. Hanesbrands posted earnings of $0.55 per share during the same quarter last year, which suggests a negative year-over-year growth rate of 1.8%. The company is scheduled to announce its next earnings report before the market opens on Thursday, October 31st.

According to Zacks, analysts expect that Hanesbrands will report full year earnings of $1.76 per share for the current fiscal year, with EPS estimates ranging from $1.72 to $1.78. For the next financial year, analysts forecast that the company will post earnings of $1.80 per share, with EPS estimates ranging from $1.70 to $1.84. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side analysts that cover Hanesbrands.

Hanesbrands (NYSE:HBI) last announced its earnings results on Thursday, August 1st. The textile maker reported $0.45 EPS for the quarter, beating the consensus estimate of $0.44 by $0.01. Hanesbrands had a return on equity of 63.57% and a net margin of 8.13%. The business had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.75 billion. During the same period last year, the business posted $0.45 EPS. The company’s revenue was up 2.7% on a year-over-year basis.

Several equities research analysts have issued reports on the company. Bank of America dropped their price objective on Hanesbrands from $20.00 to $17.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Citigroup dropped their price objective on Hanesbrands from $19.00 to $16.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. ValuEngine upgraded Hanesbrands from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 2nd. Finally, UBS Group dropped their price objective on Hanesbrands from $16.00 to $15.00 and set a “neutral” rating on the stock in a report on Friday, September 6th. Two analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. Hanesbrands presently has a consensus rating of “Hold” and a consensus target price of $16.29.

In other news, CEO Gerald Evans bought 10,000 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was bought at an average price of $14.74 per share, for a total transaction of $147,400.00. Following the transaction, the chief executive officer now owns 1,655,880 shares in the company, valued at $24,407,671.20. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Joia M. Johnson acquired 7,100 shares of Hanesbrands stock in a transaction that occurred on Wednesday, August 14th. The shares were bought at an average price of $13.97 per share, with a total value of $99,187.00. Following the transaction, the insider now directly owns 115,830 shares in the company, valued at $1,618,145.10. The disclosure for this purchase can be found here. 1.04% of the stock is currently owned by company insiders.

Large investors have recently added to or reduced their stakes in the stock. Golden State Wealth Management LLC grew its holdings in Hanesbrands by 511.7% during the second quarter. Golden State Wealth Management LLC now owns 2,514 shares of the textile maker’s stock worth $43,000 after purchasing an additional 2,103 shares during the period. Private Ocean LLC bought a new position in Hanesbrands during the second quarter worth about $49,000. Redhawk Wealth Advisors Inc. bought a new position in Hanesbrands during the second quarter worth about $49,000. Stonebridge Capital Advisors LLC bought a new position in Hanesbrands during the second quarter worth about $49,000. Finally, Investors Research Corp grew its holdings in Hanesbrands by 22.2% during the second quarter. Investors Research Corp now owns 3,300 shares of the textile maker’s stock worth $57,000 after purchasing an additional 600 shares during the period. Institutional investors and hedge funds own 90.21% of the company’s stock.

HBI stock traded down $0.22 during midday trading on Friday, hitting $15.95. 4,086,879 shares of the company’s stock were exchanged, compared to its average volume of 5,184,992. The company has a current ratio of 1.77, a quick ratio of 0.69 and a debt-to-equity ratio of 3.56. Hanesbrands has a 12-month low of $11.57 and a 12-month high of $19.38. The firm has a 50 day moving average price of $15.03 and a 200-day moving average price of $16.04. The stock has a market capitalization of $5.73 billion, a price-to-earnings ratio of 9.33, a price-to-earnings-growth ratio of 2.13 and a beta of 1.17.

About Hanesbrands

Hanesbrands, Inc is a consumer goods company, which engages in the design, manufacture, sourcing, and sale of everyday basic innerwear and activewear apparel in the Americas, Europe, Australia and Asia Pacific. It operates through the following three segments: Innerwear, Activewear and International.

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Earnings History and Estimates for Hanesbrands (NYSE:HBI)

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