Hanesbrands Inc. (HBI) Expected to Post Earnings of $0.56 Per Share

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Wall Street analysts predict that Hanesbrands Inc. (NYSE:HBI) will announce $0.56 earnings per share (EPS) for the current quarter, according to Zacks. Four analysts have provided estimates for Hanesbrands’ earnings, with estimates ranging from $0.54 to $0.57. Hanesbrands reported earnings of $0.60 per share in the same quarter last year, which would indicate a negative year over year growth rate of 6.7%. The business is expected to issue its next quarterly earnings report on Wednesday, November 7th.

On average, analysts expect that Hanesbrands will report full year earnings of $1.76 per share for the current financial year, with EPS estimates ranging from $1.71 to $1.78. For the next financial year, analysts expect that the business will report earnings of $1.90 per share, with EPS estimates ranging from $1.73 to $2.05. Zacks’ earnings per share calculations are an average based on a survey of sell-side research analysts that follow Hanesbrands.

Hanesbrands (NYSE:HBI) last released its quarterly earnings data on Wednesday, August 1st. The textile maker reported $0.45 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.46 by ($0.01). Hanesbrands had a return on equity of 78.67% and a net margin of 0.58%. The business had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same quarter in the previous year, the company posted $0.53 EPS. The business’s quarterly revenue was up 4.2% on a year-over-year basis.

HBI has been the topic of several research reports. Buckingham Research lowered their price objective on shares of Hanesbrands from $28.00 to $26.00 and set a “buy” rating on the stock in a report on Thursday, August 16th. Zacks Investment Research upgraded shares of Hanesbrands from a “hold” rating to a “buy” rating and set a $25.00 price objective on the stock in a report on Tuesday, July 24th. Barclays downgraded shares of Hanesbrands from an “overweight” rating to an “equal weight” rating and set a $22.00 price objective on the stock. in a report on Thursday, August 2nd. Macquarie lowered their price objective on shares of Hanesbrands from $15.00 to $14.00 and set a “hold” rating on the stock in a report on Thursday, August 23rd. Finally, Bank of America lowered their price objective on shares of Hanesbrands from $24.00 to $20.00 and set a “hold” rating on the stock in a report on Thursday, August 2nd. One analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $22.75.

HBI traded down $0.23 during trading on Tuesday, hitting $16.32. 3,793,345 shares of the company’s stock were exchanged, compared to its average volume of 4,773,595. The company has a current ratio of 2.02, a quick ratio of 0.84 and a debt-to-equity ratio of 5.41. Hanesbrands has a fifty-two week low of $16.11 and a fifty-two week high of $23.85. The company has a market cap of $5.88 billion, a price-to-earnings ratio of 8.46, a PEG ratio of 0.93 and a beta of 0.37.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. grew its position in Hanesbrands by 4.5% during the second quarter. BlackRock Inc. now owns 23,662,833 shares of the textile maker’s stock valued at $521,053,000 after buying an additional 1,028,890 shares during the period. Massachusetts Financial Services Co. MA grew its position in Hanesbrands by 1.4% during the second quarter. Massachusetts Financial Services Co. MA now owns 20,855,642 shares of the textile maker’s stock valued at $459,242,000 after buying an additional 290,491 shares during the period. Parnassus Investments CA grew its position in Hanesbrands by 11.5% during the second quarter. Parnassus Investments CA now owns 16,280,808 shares of the textile maker’s stock valued at $358,503,000 after buying an additional 1,680,808 shares during the period. Barrow Hanley Mewhinney & Strauss LLC grew its position in Hanesbrands by 46.4% during the first quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 15,109,168 shares of the textile maker’s stock valued at $278,311,000 after buying an additional 4,785,830 shares during the period. Finally, Epoch Investment Partners Inc. grew its position in Hanesbrands by 688.1% during the second quarter. Epoch Investment Partners Inc. now owns 4,381,283 shares of the textile maker’s stock valued at $96,476,000 after buying an additional 3,825,344 shares during the period. Hedge funds and other institutional investors own 99.58% of the company’s stock.

About Hanesbrands

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 bras, panties, men's underwear, children's underwear, activewear, socks, hosiery, intimate apparel, shapewears, and 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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