Hanesbrands Inc. (NYSE:HBI) issued its quarterly earnings results on Tuesday, August 1st. The textile maker reported $0.53 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.53, Bloomberg Earnings reports. Hanesbrands had a return on equity of 64.80% and a net margin of 9.02%. The firm had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.65 billion. During the same quarter in the previous year, the company posted $0.51 earnings per share. The company’s revenue was up 11.8% compared to the same quarter last year. Hanesbrands updated its Q3 guidance to $0.59-0.61 EPS.
Shares of Hanesbrands (HBI) traded down 1.47% during mid-day trading on Friday, reaching $23.53. 3,650,001 shares of the company’s stock traded hands. The stock has a market capitalization of $8.58 billion, a PE ratio of 15.42 and a beta of 0.73. Hanesbrands has a 12-month low of $18.91 and a 12-month high of $28.24. The company’s 50-day moving average price is $23.44 and its 200-day moving average price is $21.73.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 6th. Shareholders of record on Tuesday, August 15th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 2.55%. The ex-dividend date is Friday, August 11th. Hanesbrands’s payout ratio is currently 39.47%.
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A number of research analysts have commented on the company. ValuEngine lowered Hanesbrands from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. BidaskClub upgraded Hanesbrands from a “hold” rating to a “buy” rating in a research note on Thursday, June 15th. Zacks Investment Research downgraded Hanesbrands from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. Buckingham Research reissued a “buy” rating and set a $30.00 price target on shares of Hanesbrands in a report on Monday, July 17th. Finally, Credit Suisse Group set a $28.00 target price on Hanesbrands and gave the stock a “buy” rating in a report on Thursday, July 27th. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Hanesbrands has a consensus rating of “Buy” and an average price target of $27.57.
In other news, insider John T. Marsh sold 11,100 shares of the stock in a transaction that occurred on Tuesday, June 13th. The shares were sold at an average price of $22.57, for a total value of $250,527.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider W Howard Upchurch, Jr. sold 55,850 shares of the stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $22.90, for a total transaction of $1,278,965.00. Following the transaction, the insider now directly owns 579,663 shares of the company’s stock, valued at approximately $13,274,282.70. The disclosure for this sale can be found here. In the last three months, insiders sold 130,329 shares of company stock valued at $3,016,617. Corporate insiders own 1.10% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in HBI. Lazard Asset Management LLC raised its stake in Hanesbrands by 25.0% in the first quarter. Lazard Asset Management LLC now owns 5,000 shares of the textile maker’s stock worth $103,000 after buying an additional 1,000 shares during the period. QS Investors LLC raised its stake in Hanesbrands by 2.8% in the second quarter. QS Investors LLC now owns 5,100 shares of the textile maker’s stock worth $118,000 after buying an additional 140 shares during the period. Carroll Financial Associates Inc. raised its stake in Hanesbrands by 24.4% in the first quarter. Carroll Financial Associates Inc. now owns 5,997 shares of the textile maker’s stock worth $124,000 after buying an additional 1,177 shares during the period. Van ECK Associates Corp raised its stake in Hanesbrands by 7.4% in the first quarter. Van ECK Associates Corp now owns 5,995 shares of the textile maker’s stock worth $124,000 after buying an additional 415 shares during the period. Finally, Washington Trust Bank raised its stake in Hanesbrands by 50.0% in the second quarter. Washington Trust Bank now owns 6,000 shares of the textile maker’s stock worth $139,000 after buying an additional 2,000 shares during the period. Institutional investors own 94.54% of the company’s stock.
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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