Hanesbrands (NYSE:HBI) Issues FY 2024 Earnings Guidance

Hanesbrands (NYSE:HBI) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 0.420-0.480 for the period, compared to the consensus estimate of 0.430. The company issued revenue guidance of $5.4 billion-$5.5 billion, compared to the consensus revenue estimate of $5.3 billion. Hanesbrands also updated its FY24 guidance to $0.42-0.48 EPS.

Analyst Upgrades and Downgrades

HBI has been the subject of a number of analyst reports. Wedbush raised their price objective 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. Citigroup upped their price target on shares of Hanesbrands from $4.50 to $5.50 and gave the company a neutral rating in a research report on Wednesday, April 3rd.

Hanesbrands Trading Up 1.8 %

Shares of HBI opened at $4.54 on Thursday. The company has a debt-to-equity ratio of 7.72, a current ratio of 1.64 and a quick ratio of 0.65. The company has a 50 day simple moving average of $5.09 and a two-hundred day simple moving average of $4.54. Hanesbrands has a 1 year low of $3.54 and a 1 year high of $5.86. The firm has a market cap of $1.60 billion, a P/E ratio of -88.98 and a beta of 1.62.

Hanesbrands (NYSE:HBI) last issued its quarterly earnings data on Thursday, May 9th. The textile maker reported ($0.02) earnings per share (EPS) 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 business had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same period in the prior year, the firm earned ($0.06) EPS. The company’s revenue for the quarter was down 16.8% on a year-over-year basis. On average, equities analysts expect that Hanesbrands will post 0.44 earnings per share for the current fiscal year.

Hanesbrands Company Profile

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.