Hanesbrands Inc. (NYSE:HBI) Expected to Announce Earnings of $0.02 Per Share

Equities research analysts expect Hanesbrands Inc. (NYSE:HBI) to announce earnings per share (EPS) of $0.02 for the current quarter, Zacks reports. Five analysts have provided estimates for Hanesbrands’ earnings, with estimates ranging from ($0.10) to $0.25. Hanesbrands reported earnings of $0.54 per share during the same quarter last year, which suggests a negative year-over-year growth rate of 96.3%. The business is scheduled to announce its next earnings results on Thursday, October 29th.

According to Zacks, analysts expect that Hanesbrands will report full year earnings of $1.43 per share for the current financial year, with EPS estimates ranging from $1.24 to $1.55. For the next financial year, analysts forecast that the business will report earnings of $1.66 per share, with EPS estimates ranging from $1.60 to $1.80. Zacks’ EPS averages are a mean average based on a survey of analysts that cover Hanesbrands.

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

HBI has been the subject of a number of analyst reports. Zacks Investment Research downgraded Hanesbrands from a “strong-buy” rating to a “sell” rating and set a $16.00 price objective for the company. in a research report on Wednesday. Stifel Nicolaus raised their price target on shares of Hanesbrands from $14.00 to $16.00 and gave the stock a “buy” rating in a report on Sunday, July 19th. Raymond James raised shares of Hanesbrands from a “market perform” rating to a “strong-buy” rating and set a $20.00 price objective on the stock in a research note on Wednesday, July 15th. BofA Securities upgraded shares of Hanesbrands from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $8.50 to $14.00 in a research report on Wednesday, July 15th. Finally, Wells Fargo & Company upgraded Hanesbrands from a “neutral” rating to an “outperform” rating in a report on Tuesday, July 14th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $14.35.

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

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 11th were paid a $0.15 dividend. The ex-dividend date of this dividend was Monday, August 10th. This represents a $0.60 annualized dividend and a dividend yield of 3.76%. Hanesbrands’s dividend payout ratio is presently 34.09%.

In other Hanesbrands news, Director Ann Elizabeth Ziegler sold 12,947 shares of the stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $15.90, for a total value of $205,857.30. Following the transaction, the director now owns 43,085 shares in the company, valued at $685,051.50. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.77% of the company’s stock.

Hedge funds have recently made changes to their positions in the business. Parkside Financial Bank & Trust raised its holdings in Hanesbrands by 95.5% during the second quarter. Parkside Financial Bank & Trust now owns 2,714 shares of the textile maker’s stock worth $31,000 after buying an additional 1,326 shares during the last quarter. NuWave Investment Management LLC increased its position in shares of Hanesbrands by 45.4% during the second quarter. NuWave Investment Management LLC now owns 3,479 shares of the textile maker’s stock worth $37,000 after acquiring an additional 1,087 shares in the last quarter. Orion Portfolio Solutions LLC raised its holdings in shares of Hanesbrands by 24.3% in the 2nd quarter. Orion Portfolio Solutions LLC now owns 4,340 shares of the textile maker’s stock worth $49,000 after acquiring an additional 849 shares during the last quarter. FDx Advisors Inc. bought a new position in Hanesbrands in the 1st quarter valued at about $68,000. Finally, Cigna Investments Inc. New acquired a new position in Hanesbrands during the 1st quarter valued at about $80,000. Institutional investors and hedge funds own 93.72% of the company’s stock.

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.

Featured Article: How to Trade Using Analysts Ratings

Get a free copy of the Zacks research report on Hanesbrands (HBI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Hanesbrands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hanesbrands and related companies with MarketBeat.com's FREE daily email newsletter.