Hanesbrands (NYSE:HBI) Updates Q2 2021 Earnings Guidance

Hanesbrands (NYSE:HBI) issued an update on its second quarter 2021 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $0.370-0.400 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.410. The company issued revenue guidance of $1.56 billion-1.59 billion, compared to the consensus revenue estimate of $1.61 billion.Hanesbrands also updated its FY 2021 guidance to $1.510-1.590 EPS.

HBI traded up $0.06 during trading on Friday, reaching $19.12. 10,619 shares of the stock were exchanged, compared to its average volume of 4,902,655. The stock’s 50 day moving average price is $20.09. The company has a debt-to-equity ratio of 7.53, a current ratio of 1.64 and a quick ratio of 0.90. The firm has a market capitalization of $6.68 billion, a P/E ratio of -20.06, a price-to-earnings-growth ratio of 1.46 and a beta of 1.53. Hanesbrands has a 1 year low of $10.27 and a 1 year high of $22.82.

Hanesbrands (NYSE:HBI) last released its quarterly earnings results on Tuesday, May 11th. The textile maker reported $0.39 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.13. Hanesbrands had a positive return on equity of 71.51% and a negative net margin of 4.83%. The company had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.50 billion. During the same period in the previous year, the firm posted $0.05 earnings per share. The business’s revenue for the quarter was up 25.3% compared to the same quarter last year. Equities research analysts anticipate that Hanesbrands will post 1.58 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 1st. Stockholders of record on Friday, May 21st were issued a $0.15 dividend. The ex-dividend date of this dividend was Thursday, May 20th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.14%. Hanesbrands’s dividend payout ratio (DPR) is 41.38%.

A number of equities analysts have recently weighed in on the company. Zacks Investment Research raised Hanesbrands from a sell rating to a hold rating and set a $20.00 price target for the company in a report on Thursday, February 11th. Wells Fargo & Company upgraded Hanesbrands from an underweight rating to an equal weight rating and set a $20.00 target price for the company in a research note on Wednesday, May 12th. TheStreet upgraded Hanesbrands from a c rating to a b rating in a research note on Tuesday, May 11th. Finally, Stifel Nicolaus upgraded Hanesbrands from a hold rating to a buy rating and upped their target price for the company from $18.00 to $25.00 in a research note on Wednesday, May 12th. Four equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Hanesbrands presently has a consensus rating of Buy and a consensus target price of $20.11.

In related news, Director Cheryl K. Beebe bought 5,000 shares of the firm’s stock in a transaction dated Thursday, May 13th. The stock was bought at an average price of $19.17 per share, with a total value of $95,850.00. Following the completion of the transaction, the director now directly owns 14,603 shares of the company’s stock, valued at $279,939.51. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Joseph W. Cavaliere purchased 13,675 shares of Hanesbrands stock in a transaction that occurred on Thursday, May 13th. The stock was acquired at an average cost of $18.76 per share, with a total value of $256,543.00. Following the acquisition, the insider now directly owns 77,884 shares of the company’s stock, valued at approximately $1,461,103.84. The disclosure for this purchase can be found here. 0.82% of the stock is owned by corporate insiders.

Hanesbrands Company Profile

Hanesbrands Inc, a consumer goods company, designs, manufactures, sources, and sells a range of basic apparel for men, women, and children in the United States. 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, sport shirts, performance T-shirts and shorts, sports bras, and thermals, as well as licensed logo apparel in collegiate bookstores, mass retailers, and other channels.

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