Hanesbrands (NYSE:HBI – Get Free Report) updated its second quarter earnings guidance on Thursday. The company provided EPS guidance of $0.07-0.11 for the period, compared to the consensus EPS estimate of $0.10. The company issued revenue guidance of $1.335-1.375 billion, compared to the consensus revenue estimate of $1.34 billion. Hanesbrands also updated its FY24 guidance to $0.42-0.48 EPS.
Analyst Ratings Changes
A number of brokerages have commented on HBI. Citigroup upped their price target on Hanesbrands from $4.50 to $5.50 and gave the stock a neutral rating in a research report on Wednesday, April 3rd. Wedbush lifted their target price on shares of Hanesbrands from $4.50 to $5.00 and gave the company a neutral rating in a research note on Wednesday, April 3rd.
View Our Latest Stock Report on HBI
Hanesbrands Price Performance
Hanesbrands (NYSE:HBI – Get Free Report) last issued its quarterly earnings results on Thursday, May 9th. The textile maker reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.04. Hanesbrands had a positive return on equity of 5.84% and a negative net margin of 0.31%. The firm had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same period in the prior year, the business posted ($0.06) earnings per share. The company’s revenue for the quarter was down 16.8% on a year-over-year basis. As a group, equities research analysts forecast that Hanesbrands will post 0.44 EPS for the current year.
About Hanesbrands
Hanesbrands Inc, a consumer goods company, designs, manufactures, sources, and sells a range of range of innerwear apparels for men, women, and children in the Americas, Europe, the Asia pacific, and internationally. The company operates through three segments: Innerwear, Activewear, and International.
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