Hanesbrands Inc. Plans Quarterly Dividend of $0.15 (NYSE:HBI)

Hanesbrands Inc. (NYSE:HBI) declared a quarterly dividend on Tuesday, July 28th, Zacks reports. Investors of record on Tuesday, August 11th will be paid a dividend of 0.15 per share by the textile maker on Tuesday, September 1st. This represents a $0.60 dividend on an annualized basis and a yield of 4.13%. The ex-dividend date of this dividend is Monday, August 10th.

Hanesbrands has increased its dividend by an average of 36.4% per year over the last three years. Hanesbrands has a dividend payout ratio of 87.0% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Research analysts expect Hanesbrands to earn $1.52 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 39.5%.

NYSE:HBI traded down $0.11 on Thursday, reaching $14.53. 170,216 shares of the stock traded hands, compared to its average volume of 7,889,643. The company has a current ratio of 2.21, a quick ratio of 1.11 and a debt-to-equity ratio of 5.26. The company has a market capitalization of $5.06 billion, a price-to-earnings ratio of 10.23, a PEG ratio of 4.71 and a beta of 1.54. Hanesbrands has a 12 month low of $6.96 and a 12 month high of $16.40. The company’s fifty day simple moving average is $12.09 and its 200 day simple moving average is $11.44.

Hanesbrands (NYSE:HBI) last released its quarterly earnings data on Thursday, April 30th. The textile maker reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.06). The business had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.33 billion. Hanesbrands had a net margin of 7.75% and a return on equity of 50.63%. The business’s revenue was down 17.2% compared to the same quarter last year. During the same period last year, the company posted $0.27 earnings per share. Equities analysts anticipate that Hanesbrands will post 0.91 EPS for the current fiscal year.

HBI has been the subject of a number of recent analyst reports. Stifel Nicolaus boosted their target price on Hanesbrands from $14.00 to $16.00 and gave the stock a “buy” rating in a research report on Sunday, July 19th. Deutsche Bank cut their target price on shares of Hanesbrands from $15.00 to $9.00 and set a “hold” rating for the company in a research report on Friday, April 24th. B. Riley increased their price target on Hanesbrands from $14.00 to $16.00 in a report on Wednesday, July 22nd. UBS Group lifted their price objective on Hanesbrands from $9.00 to $9.50 and gave the stock a “neutral” rating in a report on Monday, May 4th. Finally, Credit Suisse Group raised Hanesbrands from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $13.00 to $15.00 in a research report on Tuesday, July 14th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $13.58.

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.

Read More: Why is the ex-dividend date different from the record date?

Dividend History for Hanesbrands (NYSE:HBI)

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