Zacks: Brokerages Expect Hanesbrands Inc. (HBI) Will Post Earnings of $0.24 Per Share

Brokerages predict that Hanesbrands Inc. (NYSE:HBI) will announce earnings per share (EPS) of $0.24 for the current quarter, Zacks reports. Six analysts have made estimates for Hanesbrands’ earnings, with estimates ranging from $0.24 to $0.25. Hanesbrands reported earnings per share of $0.29 in the same quarter last year, which suggests a negative year-over-year growth rate of 17.2%. The firm is expected to announce its next earnings report after the market closes on Tuesday, May 1st.

According to Zacks, analysts expect that Hanesbrands will report full year earnings of $1.76 per share for the current fiscal year, with EPS estimates ranging from $1.72 to $1.80. For the next year, analysts anticipate that the business will post earnings of $1.94 per share, with EPS estimates ranging from $1.76 to $2.05. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that cover Hanesbrands.

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Hanesbrands (NYSE:HBI) last announced its quarterly earnings data on Thursday, February 8th. The textile maker reported $0.52 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.52. The company had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.63 billion. Hanesbrands had a net margin of 0.96% and a return on equity of 72.30%. The firm’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same period last year, the business earned $0.53 EPS.

HBI has been the subject of several recent analyst reports. ValuEngine lowered shares of Hanesbrands from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Zacks Investment Research lowered shares of Hanesbrands from a “hold” rating to a “sell” rating in a report on Tuesday, December 19th. DA Davidson set a $27.00 price target on shares of Hanesbrands and gave the company a “buy” rating in a report on Friday, February 9th. Credit Suisse Group initiated coverage on shares of Hanesbrands in a report on Monday, March 12th. They issued a “neutral” rating and a $21.00 price target for the company. Finally, Citigroup reaffirmed a “neutral” rating and issued a $23.00 price target on shares of Hanesbrands in a report on Tuesday, December 19th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and seven have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $24.87.

In related news, insider W Howard Upchurch, Jr. sold 51,743 shares of Hanesbrands stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $20.70, for a total value of $1,071,080.10. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 1.06% of the company’s stock.

Large investors have recently modified their holdings of the stock. Guardian Capital LP bought a new stake in Hanesbrands in the 3rd quarter valued at about $9,494,000. Allianz Asset Management GmbH lifted its position in Hanesbrands by 1,429.0% in the 3rd quarter. Allianz Asset Management GmbH now owns 358,080 shares of the textile maker’s stock valued at $8,823,000 after purchasing an additional 334,661 shares during the last quarter. Parametric Portfolio Associates LLC lifted its position in Hanesbrands by 15.8% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 980,400 shares of the textile maker’s stock valued at $24,157,000 after purchasing an additional 133,434 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Hanesbrands by 0.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,383,535 shares of the textile maker’s stock valued at $34,089,000 after purchasing an additional 6,108 shares during the last quarter. Finally, Lapides Asset Management LLC raised its position in shares of Hanesbrands by 19.5% during the 4th quarter. Lapides Asset Management LLC now owns 188,900 shares of the textile maker’s stock worth $3,950,000 after buying an additional 30,800 shares in the last quarter. Hedge funds and other institutional investors own 99.99% of the company’s stock.

Shares of HBI stock opened at $18.58 on Tuesday. The firm has a market cap of $6,801.39, a price-to-earnings ratio of 9.63, a P/E/G ratio of 1.19 and a beta of 0.73. The company has a quick ratio of 0.85, a current ratio of 1.90 and a debt-to-equity ratio of 5.40. Hanesbrands has a 1-year low of $17.94 and a 1-year high of $25.73.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 13th. Investors of record on Tuesday, February 20th were given a $0.15 dividend. The ex-dividend date of this dividend was Friday, February 16th. This represents a $0.60 annualized dividend and a yield of 3.23%. Hanesbrands’s dividend payout ratio is presently 31.09%.

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Hanesbrands Company Profile

Hanesbrands Inc is a marketer of basic innerwear and activewear apparel in the Americas, Europe, Australia and Asia/Pacific under apparel brands, such as Hanes, Champion, Maidenform, DIM, Bali, Playtex, Bonds, JMS/Just My Size, Nur Die/Nur Der, L’eggs, Lovable, Wonderbra, Flexees, Gear for Sports and Berlei.

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