$1.60 Billion in Sales Expected for Hanesbrands Inc. (NYSE:HBI) This Quarter

Equities analysts expect Hanesbrands Inc. (NYSE:HBI) to report $1.60 billion in sales for the current quarter, according to Zacks. Five analysts have made estimates for Hanesbrands’ earnings. The lowest sales estimate is $1.52 billion and the highest is $1.69 billion. Hanesbrands reported sales of $1.87 billion in the same quarter last year, which would suggest a negative year over year growth rate of 14.4%. The firm is scheduled to issue its next quarterly earnings results on Thursday, October 29th.

According to Zacks, analysts expect that Hanesbrands will report full-year sales of $6.32 billion for the current year, with estimates ranging from $6.19 billion to $6.51 billion. For the next year, analysts expect that the firm will post sales of $6.61 billion, with estimates ranging from $6.38 billion to $6.83 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that follow Hanesbrands.

Hanesbrands (NYSE:HBI) last released its earnings results on Thursday, July 30th. The textile maker reported $0.60 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.62. The business had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.17 billion. Hanesbrands had a return on equity of 55.54% and a net margin of 7.88%. The business’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.45 earnings per share.

A number of brokerages recently weighed in on HBI. Stifel Nicolaus lifted their price objective on shares of Hanesbrands from $14.00 to $16.00 and gave the company a “buy” rating in a report on Sunday, July 19th. Barclays raised Hanesbrands from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $15.00 to $18.00 in a research report on Friday, July 31st. B. Riley raised their target price on Hanesbrands from $16.00 to $18.00 in a research report on Wednesday, August 19th. Wells Fargo & Company upgraded shares of Hanesbrands from a “neutral” rating to an “outperform” rating in a report on Tuesday, July 14th. Finally, Raymond James raised shares of Hanesbrands from a “market perform” rating to a “strong-buy” rating and set a $20.00 price target for the company in a research report on Wednesday, July 15th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $14.35.

In other Hanesbrands news, Director Ann Elizabeth Ziegler sold 12,947 shares of the stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $15.90, for a total value of $205,857.30. Following the completion of the transaction, the director now directly owns 43,085 shares of the company’s stock, valued at $685,051.50. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.77% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in HBI. Parkside Financial Bank & Trust grew its holdings in Hanesbrands by 95.5% in the second quarter. Parkside Financial Bank & Trust now owns 2,714 shares of the textile maker’s stock valued at $31,000 after purchasing an additional 1,326 shares during the last quarter. NuWave Investment Management LLC increased its stake in Hanesbrands by 45.4% in the second quarter. NuWave Investment Management LLC now owns 3,479 shares of the textile maker’s stock valued at $37,000 after acquiring an additional 1,087 shares during the period. Orion Portfolio Solutions LLC raised its position in Hanesbrands by 24.3% in the second quarter. Orion Portfolio Solutions LLC now owns 4,340 shares of the textile maker’s stock worth $49,000 after purchasing an additional 849 shares in the last quarter. FDx Advisors Inc. bought a new position in Hanesbrands during the first quarter worth about $68,000. Finally, Rampart Investment Management Company LLC lifted its stake in Hanesbrands by 162.5% during the second quarter. Rampart Investment Management Company LLC now owns 7,931 shares of the textile maker’s stock worth $90,000 after purchasing an additional 4,910 shares during the period. Institutional investors and hedge funds own 93.72% of the company’s stock.

HBI stock traded up $0.20 during trading on Monday, reaching $15.95. 4,368,782 shares of the stock were exchanged, compared to its average volume of 7,981,790. The firm has a market capitalization of $5.48 billion, a price-to-earnings ratio of 10.95, a P/E/G ratio of 3.28 and a beta of 1.69. Hanesbrands has a 1 year low of $6.96 and a 1 year high of $16.75. The company has a current ratio of 2.01, a quick ratio of 1.04 and a debt-to-equity ratio of 3.69. The business has a 50 day moving average price of $15.66 and a 200-day moving average price of $11.92.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Tuesday, August 11th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 3.76%. The ex-dividend date of this dividend was Monday, August 10th. Hanesbrands’s dividend payout ratio is currently 34.09%.

Hanesbrands Company Profile

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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