Zacks: Brokerages Expect Hibbett Sports, Inc. (NASDAQ:HIBB) Will Announce Quarterly Sales of $267.70 Million

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Analysts forecast that Hibbett Sports, Inc. (NASDAQ:HIBB) will announce $267.70 million in sales for the current quarter, Zacks reports. Two analysts have made estimates for Hibbett Sports’ earnings, with the lowest sales estimate coming in at $256.40 million and the highest estimate coming in at $279.00 million. Hibbett Sports reported sales of $216.89 million during the same quarter last year, which would suggest a positive year over year growth rate of 23.4%. The firm is expected to issue its next quarterly earnings results on Tuesday, November 26th.

According to Zacks, analysts expect that Hibbett Sports will report full year sales of $1.17 billion for the current fiscal year, with estimates ranging from $1.15 billion to $1.18 billion. For the next fiscal year, analysts forecast that the firm will report sales of $1.17 billion, with estimates ranging from $1.14 billion to $1.19 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that cover Hibbett Sports.

Hibbett Sports (NASDAQ:HIBB) last released its quarterly earnings results on Friday, August 23rd. The company reported ($0.13) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.16) by $0.03. Hibbett Sports had a return on equity of 11.89% and a net margin of 2.39%. The firm had revenue of $252.40 million for the quarter, compared to the consensus estimate of $255.71 million. During the same period last year, the business posted ($0.06) EPS. The company’s revenue for the quarter was up 19.6% on a year-over-year basis.

A number of analysts recently issued reports on HIBB shares. Susquehanna Bancshares set a $29.00 price target on Hibbett Sports and gave the company a “buy” rating in a report on Monday, August 26th. ValuEngine lowered Hibbett Sports from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 27th. Robert W. Baird set a $17.00 price objective on Hibbett Sports and gave the company a “hold” rating in a report on Monday, August 26th. BidaskClub raised Hibbett Sports from a “sell” rating to a “hold” rating in a research report on Wednesday, August 28th. Finally, Zacks Investment Research downgraded Hibbett Sports from a “strong-buy” rating to a “hold” rating and set a $21.00 target price on the stock. in a research report on Monday, July 29th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $20.26.

In related news, SVP Ronald P. Blahnik bought 6,125 shares of the stock in a transaction on Monday, September 9th. The shares were bought at an average cost of $15.84 per share, for a total transaction of $97,020.00. Following the completion of the transaction, the senior vice president now owns 14,700 shares of the company’s stock, valued at approximately $232,848. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 2.00% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the business. 6 Meridian lifted its stake in shares of Hibbett Sports by 0.9% during the second quarter. 6 Meridian now owns 57,639 shares of the company’s stock valued at $1,049,000 after buying an additional 532 shares during the period. State Board of Administration of Florida Retirement System grew its holdings in Hibbett Sports by 4.5% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 17,529 shares of the company’s stock valued at $319,000 after purchasing an additional 750 shares in the last quarter. Northern Trust Corp grew its holdings in Hibbett Sports by 0.4% during the 2nd quarter. Northern Trust Corp now owns 239,174 shares of the company’s stock valued at $4,352,000 after purchasing an additional 1,057 shares in the last quarter. Hancock Whitney Corp grew its holdings in Hibbett Sports by 2.0% during the 2nd quarter. Hancock Whitney Corp now owns 75,722 shares of the company’s stock valued at $1,378,000 after purchasing an additional 1,505 shares in the last quarter. Finally, C M Bidwell & Associates Ltd. acquired a new stake in Hibbett Sports during the 2nd quarter valued at $39,000.

Shares of HIBB traded up $0.62 during mid-day trading on Friday, reaching $18.57. 441,301 shares of the company’s stock traded hands, compared to its average volume of 734,917. The stock has a market cap of $332.03 million, a P/E ratio of 10.49, a P/E/G ratio of 0.76 and a beta of 0.45. The stock’s 50-day moving average is $16.64 and its two-hundred day moving average is $19.45. Hibbett Sports has a 12 month low of $13.08 and a 12 month high of $25.24. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.63 and a quick ratio of 0.50.

Hibbett Sports Company Profile

Hibbett Sports, Inc, together with its subsidiaries, operates athletic specialty stores. Its stores offer a range of merchandise, including athletic footwear, athletic and fashion apparel, sports equipment, and related accessories. The company also operates Hibbett.com, an e-commerce Website. It operates approximately 1,100 stores under the Hibbett Sports and City Gear names primarily in small and mid-sized communities in the United States.

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